Coinbase CEO to Launch Charity Crypto Fund

At the moment, the fund has already raised $ 3.5 million, of which $ 1 million was personally invested by Armstrong
28 June 2018   2158

Brian Armstrong, co-founder and CEO of Coinbase, announced the launch of a charitable cryptocurrency fund called GiveCrypto. Armstrong plans to attract $ 1 billion in the next two years. This is reported by Brian himself via Twitter.

According to Armstrong, having managed to earn big money on bitcoin and other crypto-currencies, community members should help the needy all over the world, and not position themselves as cool guys in Lamborghini. This will help to open new scenarios for the use of cryptocurrency, and, undoubtedly, will promote its further popularization.

He also noted that donations in the cryptocurrency can reach people directly, eliminating the likelihood of corruption and abuse.

Cryptocurrency is unique in that it can be used to send small amounts of money anywhere in the world, in real-time directly to an individual in need — they just need a mobile device with an internet connection. With distribution of aid to foreign countries, high fees and corruption are unfortunately common; cryptocurrency is a way of circumventing both.
 

Brian Armstrong

CEO, Coinbase

To date, the fund has already raised $ 3.5 million, of which $ 1 million was personally invested by Armstrong. Also reported that the contribution of more than $ 1 million was made by the executive chairman and co-founder of Ripple Chris Larsen.

Other contributors are Chinese mining giant Bitmain and venture capitalist Fred Wilson; they contributed more than $ 100,000 each.

GiveCrypto plans to start helping those in need after the amount of donations reaches $ 10 million, but the long-term goal of the fund is $ 1 billion over the next two years.

US OCC to Hire Coinbase's Chief Legal Officer

Brian Brooks will be the Office of the Comptroller of the Currency COO and  Senior Deputy Comptroller since 1st of April
17 March 2020   430

The U.S. Office of the Comptroller of the Currency (OCC) has recruited Coinbase's cryptocurrency exchange legal director, Brian Brooks, as its chief operating officer and first deputy head of department.

Brooks will take office on April 1st. He has been in charge of Coinbase's legal affairs since September 2018. At Brooks' new location, they announced that he would leave Coinbase and replace current COO Morris Morgan. Brooks is also a member of the board of directors of the mortgage company Fannie Mae, but will leave this post with a new appointment.

He is a visionary thinker with a passion for service and a deep understanding of how the financial services industry supports our nation's prosperity. We are fortunate to attract such an experienced and talented individual to join our federal agency.

 

Joseph Otting

Current Comptroller of the Currency

The Office of the Comptroller of the Currency is part of the US Department of the Treasury and supervises national banks. The agency has been operating since 1863 and is taking measures against banks, the practices of which it considers to be excessively risky.