Pineapple Fund

Pineapple Fund
Established December 2017
Founder Anonymous / "Pine"
Type charitable fund
Budget
5,057 Bitcoins
Disbursements $55 million[1][2]
Website https://pineapplefund.org

The Pineapple Fund was a philanthropic project by an anonymous individual which gave away 5,057 Bitcoins to 60 charities. The amount was valued at $86 million in December 2017.[3][4][5][6][7] Some of the themes supported were medical research, environmental conservation, human rights and psychedelic therapy.

History

The Pineapple Fund was announced with a post on reddit on December 14, 2017. The individual used the pseudonym "Pine", and explained that "My aims, goals, and motivations in life have nothing to do with [..] being the mega rich. So I'm doing something else: donating the majority of my bitcoins to charitable causes".[6][8]

The individual behind the fund has remained pseudonymous, but says they have been involved in Bitcoin since the early days.[6] In an interview with Forbes, the individual says they suffer from borderline personality disorder, and made the decision to start the Pineapple Fund after undergoing experimental ketamine IV therapy which had a substantial improvement.[9]

An application form was made available on the website, open to all charities around the world. Speaking to Philanthropy, the founder said that more than 10,000 applications were received.[10]

After five months, a total of 5,104 Bitcoins were donated and liquidated for a value of $55 million after exchange rate volatility.[11]

Donations

The fund's first donation was $1 million to Watsi, a charity for crowdfunding healthcare.[6]

The fund made its three largest donations of $5 million each to GiveDirectly,[12] The Open Medicine Foundation.[13] and to MAPS.[14]

The fund has also donated $1 million or more to the following organizations:

See also

References

  1. ↑ Roose, Kevin (27 December 2017). "Some Things About Tech Were Good in 2017. No, Really" – via NYTimes.com.
  2. 1 2 3 4 "Pineapple Fund". pineapplefund.org. Retrieved 2018-01-10.
  3. ↑ "Bitcoin philanthropist sets up $85M investment fund to support charities". The Next Web. 14 December 2017.
  4. ↑ Guo, Eileen (17 December 2017). "Can the $86 Million "Pineapple Fund" Save the Soul of Bitcoin?". Inverse.
  5. ↑ Coren, Michael. "A bitcoin millionaire's fortune will fund psychedelic research, a cure for aging, and clean water". Quartz.
  6. 1 2 3 4 5 6 7 Prisco, Giulio (15 December 2017). "Meet "Pine," the Bitcoin Philanthropist Who Set Up the $85 Million Pineapple Fund". Bitcoin Magazine.
  7. ↑ Murphy, David (17 December 2017). "'Pineapple Fund' Giving Away $86 Million in Bitcoins to Charity". PC Magazine.
  8. ↑ Schroeder, Stan. "Bitcoin tycoon promises to give away $86 million worth of bitcoins to charity". Mashable. Retrieved 2018-01-10.
  9. ↑ Ferenstein, Gregory. "Bitcoin Mega-Philanthropist 'Pineapple' Talks About Psychedelic Research". Forbes. Retrieved 21 September 2018.
  10. ↑ Lindsay, Drew. "'It Just Felt Like a Miracle': Small Groups Win Big in Bitcoin Donor's $56 Million Giving Spree". Philanthropy. Retrieved 21 September 2018.
  11. ↑ Tahir, Habiba. "$55 Million: Pineapple Fund Bids Farewell after Making Final Anonymous Donation". Yahoo Finance. CCN. Retrieved 21 September 2018.
  12. ↑ Weller, Chris. "The world's largest basic income experiment just received a $5 million donation in bitcoin". Business Insider.
  13. ↑ https://www.omf.ngo/2018/02/02/pineapple-fund/
  14. ↑ "PRESS RELEASE: Pineapple Fund Offers $4 Million Matching Grant to MAPS". MAPS. Retrieved 2018-01-10.
  15. ↑ "Bitcoin-Only Charity Fund Donates $1 Mln To Internet Archive". Cointelegraph.
  16. ↑ "The Pineapple Fund Donates Millions to the Organ Preservation Alliance and Methuselah Foundation". Fight Aging!. 2018-01-29. Retrieved 2018-03-02.
  17. ↑ Busby, Mattha (2017-12-24). "Pineapple Fund: why is an anonymous bitcoin millionaire giving away $86m?". The Guardian. ISSN 0261-3077. Retrieved 2018-01-10.
  18. ↑ "MAPS Receives Over $1,000,000 in Bitcoin from Cryptocurrency Philanthropist". MAPS. Retrieved 2018-01-10.
  19. ↑ Ferenstein, Gregory. "Mysterious Bitcoin Philanthropist Donated $1M To Psychedelic Research". Forbes. Retrieved 2018-01-10.
  20. ↑ "SRF Receives $1M BTC from the Pineapple Fund". SENS Research Foundation. 2017-12-16. Retrieved 2018-01-10.
  21. ↑ Dextrixhe, John. "Crypto millionaires are funding research to reverse the aging process". Retrieved 21 September 2018.
  22. ↑ "Mona Foundation". www.monafoundation.org. Retrieved 2018-01-10.
  23. ↑ Story, New (23 December 2017). "Christmas came a little early this year in the form of an incredibly generous $1M bitcoin donation from the Pineapple Fund! We're so grateful for the support!". @NewStoryCharity. Retrieved 2018-01-10.
  24. ↑ Quill (2018-01-04). "Quill.org Receives a $1 Million Donation from the Pineapple Fund to Teach Critical Thinking to 10…". Medium. Retrieved 2018-01-10.
  25. ↑ "Free Software Foundation (fsf)'s status on Monday, 29-Jan-2018 21:32:45 UTC".
  26. ↑ Free Software Foundation receives $1 million donation from Pineapple Fund, 2018-01-30
  27. ↑ Coldewey, Devin (14 February 2018). "Pineapple Fund drops $1M on the Sustainable Ocean Alliance and its new accelerator". techcrunch.com. United States of America: TechCrunch. Retrieved 14 February 2018.
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