Crypto exchange company Coinbase has launched a charitable organization that the company says will focus on „driving philanthropic initiatives underpinned by a common goal of increasing economic freedom.”
Coinbase Giving will support causes that fall under three main categories: increasing education and access to crypto, speeding up the developments of crypto protocols, and supporting the next generation of professionals in the crypto ecosystem.
The organization will be rolled out in three stages. The first stage will focus on integrating the non-profit GiveCrypto into Coinbase as a 501(c)(3) foundation. By converting the non-profit into a private foundation, Coinbase will increase funding and allow its customers to donate directly to the programs they would like to support.
The second stage will focus on expanding the Crypto Community Fund, a fund meant to develop research and support open-source projects. The exchange expects to put forward $2 million to expand this program.
Bitcoin Plummets After SEC Sues Binance for Securities Violations
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Binance – the world’s largest crypto…