According to the official blog, cryptocurrency exchange Coinbase announced that it will shut down its non-profit charity organization “Givecrypto”. Coinbase said that although Givecrypto has distributed cryptocurrency to thousands of people in need over the past few years, the organization has failed to achieve the change it aimed to create through unconditional cash transfers. Remaining funds will be donated to Brink and GiveDirectly to continue pursuing this mission.
Givecrypto is a charity project launched by Coinbase CEO Brian Armstrong in June 2018, focusing on using cryptocurrency to provide assistance to poor people around the world.
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