TechFlow news: Coinbase will shut down the GiveCrypto nonprofit organization. Coinbase stated, "For years, GiveCrypto has distributed cryptocurrency to tens of thousands of people in need. However, we have found that unconditional cash transfers alone cannot create lasting change."
All remaining GiveCrypto funds will be donated to Brink and GiveDirectly. Brink is working to strengthen Bitcoin software and protocols, while GiveDirectly is better positioned to ensure cryptocurrency donations reach those most in need and provide sustained benefits.
GiveCrypto was a charitable initiative launched by Coinbase CEO Brian Armstrong in June 2018.
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