Co-Creator of Tezos Intends to Donate Millions To Charity of Their Given Future XTZ Fortune
You may remember the Tezos Initial Coin Offering (ICO). At the time, the company had one of the biggest ICOs and was able to raise $232 million USD. Kathleen Breitman, the co-founder of Tezos, has recently talked about what she will do with her part of the money.
According to her, the XTZ tokens that she owns from the event are still not on her pocked until now, but she has signed a commitment affirming that she would give 15% of them to charity. More specifically, she will donate the part of the money to Founder’s Pledge, a popular charity company.
At the moment, she still does not have the money, as her part of the proceedings were locked for some years. The money currently amounts to millions of dollars, but she affirmed that the final value of the donation will really depend on how much the tokens will be worth when they are finally unlocked.
She also affirmed that other founders should donate their tokens as well, instead of keeping them. Breitman currently has 68 million XTZ tokens (worth around $17 million USD).
Founder’s Pledge, the company that she is donating to, has the goal of getting as many entrepreneurs as possible to commit to donating to charity. According to the company, this year ICOs will raise at least $200 billion USD. If more founders were to donate, they could really make a huge difference, as most of them don’t even need all that money.
Joey Krug, the creator of Augur and a partner at Pantera Capital, has also promised to give 5% of his proceedings for the next company that the works with. According to him, cryptos are an excellent venue for charity, so this is considered by him a very interesting approach that most people are simply not considering at the moment.