Grayscale Investments donates $1 million to Coin Center

Grayscale has revealed a $1 million donation to credible non-profit think tank Coin Center, carrying on Kraken's donate-and-match commitment from 2018

Cryptocurrency asset manager Grayscale Investments has donated $1 million to non-profit think tank, Coin Center, according to a press release shared with Coin Rivet.

In addition, Grayscale has pledged to match donations to Coin Center of up to an additional $1 million through February 2021.

Coin Center is a think tank focused on public policy relating to cryptocurrencies, providing insight and advice on regulatory recommendations from the likes of FATF and FinCEN.

The donate-and-match commitment to Coin Center first began in 2018 by Kraken when the exchange donated $1 million to be Coin Center’s largest single donor at the time.

Kraken’s CEO, Jesse Powell, said: “Education is both a key challenge and opportunity for our industry today — educating our community, the public, and regulators.”

“At the time, we wanted to show our support and gratitude for the work that Coin Center was doing on behalf of the cryptocurrency networks that firms like Kraken are built on.

“Today, their work is even more critical, so I am very pleased to see a leading firm like Grayscale Investments stepping in and taking the baton to continue what I hope will become a tradition of giving for our industry.”

Coin Center also aims to educate policymakers on cryptocurrencies and the underlying technology in order to protect the asset class’ ethos of privacy and decentralisation.

“There’s not been a better time to invest in the growth of this industry, following a year which saw cryptocurrencies becoming recognised as a bona fide asset class, enjoying the participation of the broader investment community and notable financial services institutions,”said Michael Sonnenshein, CEO of Grayscale Investments.

He continued: “While it is the responsibility of blockchain and digital currency firms to support good policy-making in DC to drive this industry forward, it is in the interest of all users, developers, investors, and other market participants that regulators are properly informed about developments in this space.”

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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