Last January, the Free Software Foundation received a donation of $1 million or 91.45 BTC from the Pineapple Fund. The donation, which was expected to be used to “empower free software activists and developers around the world,” has seen a drastic reduction in value due to the effects of last year’s downturn in the crypto market. Continue reading Free Software Foundation $1 Million Bitcoin Donation Reduced by $140,000 Before Conversion
Cryptocurrency philanthropy is spreading. The Pineapple Fund, whose founders remain anonymous, has given $5 million worth of bitcoin to the Agoura Hills, Calif.-based Open Medicine Foundation (OMF) over two separate donations. The funds, which were deposited into the nonprofit’s BitPay account and which are reportedly being converted to US dollars, are being directed toward “accelerating much-needed research for myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS) and related chronic complex diseases.”
Someone named Pine, from the Pineapple Fund, directed the first $1 million in bitcoin to OMF on Jan. 14. That gift was followed up by a separate $4 million bitcoin donation on Feb. 2. The gift will no doubt go a long way, just as the grateful response from the cryptocurrency community to the original bitcoin gift did.