The U.S. SEC has issued a Wells notice to Coinbase. As a result, Coinbase warns that the U.S. government’s regulatory approach to crypto has created an uncertain and unstable environment. Meanwhile, other countries, such as France, the U.K., and the European Union, are building friendlier crypto regulation ecosystems and becoming crypto hubs, causing the U.S. to lose its status as the leading hub of the crypto sector. (Read More)
Tl;dr:Coinbase commits $1 million for Public Goods through Gitcoin, including $200,000 for upcoming Grants Round 14.
Today, Coinbase is pleased to announce its ongoing support of digital public goods — or open-source software supporting open-source protocols — in collaboration with Gitcoin. With this $1 million commitment, Coinbase has committed one of the largest single donations to the public goods treasury in Gitcoin history — funded jointly by Coinbase Giving and Coinbase Cloud. Coinbase joins prominent names like the Ethereum Foundation, ENS, Optimism, NounsDAO and Polygon as one of the largest donors helping support the cryptoeconomy’s infrastructure. The funds will be allocated in an increasing stepwise manner over GR14, GR15, and GR16.
Coinbase remains committed to building a cryptoeconomy with equitable access for all. Investing in and backing secure public infrastructure is a critical component of this work. Our efforts are spread across a variety of teams at Coinbase, including Coinbase Giving, Coinbase Cloud, and developer relations, all of whom share the goal of improving digital public goods for the cryptoeconomy.
“If web3 is a city, then open source software is its infrastructure — the roads, bridges, and electrical grids it relies on. But just like a city, to create the kind of thriving, interconnected web3 we want to see we all need to do our part to maintain it. We’re proud to see Coinbase continuing to show exactly that kind of commitment here, by funding and empowering developers in the ecosystem to build for the public good.” — Scott Moore, Co-Founder and Head of Ecosystem Development at Gitcoin.
We believe helping to connect and grow the cryptoeconomy is essential to advancing economic freedom around the world. That’s why a portion of the donation ($200,000) will be allocated to Gitcoin’s upcoming Grants Round 14 Quadratic Funding match pool, taking place in June 2022. Thanks in part to Coinbase’s contribution, the upcoming Grants Round main will include a new pool specifically dedicated to funding and scaling Ethereum protocol development.
See Gitcoin’s impact measurement dashboard for more details on how we’re making a difference and driving impact with our partners. For more information, follow @Gitcoin and @Coinbase, and join the conversation on the future of web3.