Grayscale Investments Donates $1 Million to Coin Center
Pledges to Match Donations Up to an Additional $1 Million
Grayscale to carry on the commitment first initiated by Kraken in 2018 in support of leading crypto industry think tank
New York, Jan. 25, 2021 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital currency asset manager, today announced that it will be donating $1 million to Coin Center, the leading non-profit think tank focused on public policy affecting cryptocurrency networks. In addition, Grayscale has pledged to match donations to Coin Center of up to an additional $1 million through February 2021.
This donate-and-match commitment was first initiated by Kraken in 2018, when its million dollar donation became Coin Center’s single largest contribution to date. The crypto community further took up Kraken’s pledge to match donations up to another million, allowing Coin Center to raise over $3 million that year.
“Education is both a key challenge and opportunity for our industry today — educating our community, the public, and regulators,” said Jesse Powell, CEO of Kraken. “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 works to inform policymakers and ensure that the government’s approach to cryptocurrencies is based on a sound understanding of the technology and respects individual rights of speech and privacy. Through producing and publishing research, educating policymakers, and engaging in advocacy, it hopes to preserve the freedom of cryptocurrency developers and users to continue pushing this technology forward.
“There’s not been a better time to invest in the growth of this industry, following a year which saw cryptocurrencies becoming recognized 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. “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.”
The fundraising campaign will happen throughout the month of February, the proceeds of which will go toward Coin Center’s ongoing advocacy mission.
“We’re grateful and humbled by this generous commitment from Grayscale and the ongoing commitment by so many other individuals and firms who support us,” said Jerry Brito, executive director of Coin Center. “We exist to ensure that there’s a voice in Washington for open, permissionless cryptocurrency networks, which are public goods from which everyone benefits. The funds we raise are crucial to helping our team do all we can in ensuring that the ecosystem continues to mature and grow.”
In addition to supporting Coin Center, Grayscale Investments is a member and financial supporter of Blockchain Association, a digital currency trade association that focuses on promoting better policymaking for cryptocurrencies and blockchain networks.
You can join the matching campaign and see who has already donated by visiting coincenter.org/matching.
About Grayscale Investments®
Grayscale Investments is the world’s largest digital currency asset manager, with more than $24.2B in assets under management as of January 22, 2021. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. For more information, please visit www.grayscale.co and follow @Grayscale.
About Coin Center
Based in Washington, D.C., Coin Center is the leading non-profit research and advocacy center focused on the public policy issues facing cryptocurrency and decentralized computing technologies like Bitcoin and Ethereum. Their mission is to build a better understanding of these technologies and to promote a regulatory climate that preserves the freedom to innovate using permissionless blockchain technologies. They do this by producing and publishing policy research from respected academics and experts, educating policymakers and the media about blockchain technology, and by engaging in advocacy for sound public policy.