Brian Armstrong Declines Charity, Calling It a 'Net Negative' for the World

Coinbase CEO Brian Armstrong has sparked controversy after stating he would never give to charity and views philanthropy as 'net negative' on the world.

In an appearance on the Katie Miller Podcast, Armstrong said his approach to wealth is different from that of other billionaires. He pointed to Microsoft co-founder Bill Gates as an example of a billionaire using charitable giving to repair their public image after criticism.

'The common view is that philanthropy is a noble cause,' Armstrong said, but added 'I guess I have sort of a contrarian view where a lot of charities and philanthropies are actually net negative on the world.'

Armstrong also stated that charitable institutions can become driven by politics rather than service, making it difficult to find a foundation that has not been captured by ideology.