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The Pineapple Fund plans to donate $86 million dollars worth of Bitcoins to a variety of charities. Initial charitable donations include $1M to Watsi, The Water Project, Electronic Frontier Foundation, and $500k to the BitGive Foundation.
The project includes links to the valid transactions made on the Bitcoin blockchain giving proof of the validity and amount of the donations.
Pineapple Fund was created as an experiment for the sake of philanthropy. The fund used a crypto bubble in 2017 to turn 5104 Bitcoin (BTC) into $55 million which was donated to charities. Pineapple Fund was created by an anonymous donor that goes by the alias name Pine. The fund has donated to 60 different charities and has stopped operations after donating the $55M.
Pine, and their fund's goal, was to set a standard for altruism in the cryptocurrency industry. Some major recipients of Pineapple Fund's donations include the Electronic Frontier Foundation, OpenStreetMap, and the Multidisciplinary Association for Psychedelic Studies (MAPS). These recipients are organizations that aim to combat mental illnesses, provide maps of the world, and to support neutrality on the internet.
