Coinbase’s Brian Armstrong onboard with The Giving Pledge

Coinbase CEO Brian Armstrong has become the first crypto entrepreneur to join The Giving Pledge, which was set up by Bill and Melinda Gates and Warren Buffett and focuses on billionaires publicly dedicating the majority of their wealth to philanthropy.

Armstrong has issued the following statement: “About ten years ago I wrote down a goal: “start a billion dollar tech company.” I associated a billion dollar valuation with scale and impact. It meant creating a product that reached millions of people around the world and building an amazing team to do it.

At the time it seemed ridiculous. I had never started a company worth a thousand dollars, much less a billion, so I had no business attempting something so ambitious. But day after day, I continued writing down that goal, figuring it wouldn’t hurt to stay focused. Fast forward ten years, and through a lot of determination and luck I am now the founder of a multi-billion dollar company.

Once a certain level of wealth is reached, there is little additional utility from spending more on yourself. One’s ambition begins to move outwards. I’ve always admired founders and leaders whose ambition to improve the world supersedes any goal related to personal wealth.

This year, I started my first philanthropic effort, GiveCrypto.org, which makes direct cash transfers to people living in poverty. I’m excited about the potential for this organisation to help people, but I’m still early on my journey of discovering how to have the most impact via philanthropy.

There is a quote I saw recently which read “The greatest good you can do for another is not just to share your riches, but to reveal to him their own.” This stuck with me. Whether it’s through improving education, creating a more level playing field, or increasing economic freedom, I’m interested in helping more people see their ideas come to fruition in the world. My hope is that more people will write down a “crazy” goal some day, just like I did ten years ago, and it will turn out to be not so crazy after all.”

Bravo, Brian, bravo!