Culture hash: Bitcoin philanthropy

Bitcoin was a gift to the world that has made a lot of people rich. Some of those people and companies give back, to keep the momentum going.

• Why it matters: Bitcoin, like many other prominent blockchains, has no central company to steward its ecosystem — it relies on the largesse of its adherents to keep growing.

Driving the news: Digital asset finance company Unchained announced several philanthropic initiatives to advance the Bitcoin ecosystem this week.

Among its latest plans:

• Investing in community hubs, contributing cash to the Bitcoin Policy Institute, and launching a bitcoin-focused university endowment at the University of Austin in Texas.
• It will also match bitcoin donations in its donor-advised fund up to 1 BTC to partner organizations, such as the pro-freedom Human Rights Foundation and research and development organization Brink.

Between the lines: The interesting thing about the donor-advised fund is that, by donating BTC, donors can get the full fair market value for their contribution without taking a capital gains tax hit on the gains.

Flashback: We spoke to Unchained in April 2023, as one of the very few crypto lenders that didn't sink in the market turmoil of 2022.

Brady's thought bubble: The strongest cryptocurrencies are communities rather than companies. Like any community, participants get back what they put in.