Coinbase is shutting down the nonprofit organization Givecrypto

ChainCatcher news, cryptocurrency exchange Coinbase announced that it is gradually ending the Givecrypto program, a nonprofit funded by its CEO Brian Armstrong, aimed at providing cryptocurrency to those in need. The announcement details: "While it has had a positive impact, we cannot create lasting change purely through unconditional cash transfers." Givecrypto is one of Coinbase's charitable initiatives, dedicated to "increasing economic freedom globally," the company stated, emphasizing: "After careful consideration, we recognize that we need to take a new direction."