Cryptocurrency exchange giant Coinbase is making a big bet on the future of Bitcoin. They’ve announced a $3.6 million donation to the non-profit Brink, dedicated to supporting the developers building and maintaining the Bitcoin protocol. This generous contribution wraps up Coinbase’s “GiveCrypto” initiative, which aimed to distribute crypto to underprivileged communities.
Launched in December 2020, Brink focuses on strengthening the Bitcoin network through various initiatives. They offer a fellowship program to onboard new engineers and a grant program to fuel ongoing development by experienced Bitcoin builders. This fresh injection of funds from Coinbase will empower Brink to further empower these dedicated developers, ultimately strengthening the foundation of Bitcoin itself.
This isn’t Brink’s first rodeo. Back in June 2023, they received a $5 million boost from Jack Dorsey’s “Start Small” initiative, and just this January, investment firm VanEck pledged to donate 5% of its Bitcoin ETF profits to the non-profit. Now, with Coinbase throwing its weight behind them, Brink’s position as a crucial supporter of Bitcoin development becomes even more solidified.
Brink co-founder Mike Schmidt expressed his excitement about the partnership, calling it “one of the biggest Bitcoin open-source developer donations from one of the biggest companies in the space.” He emphasized that the funds will directly support their mission to “sustain the Bitcoin developer ecosystem through funding, education, and mentoring.”
This move signifies a powerful collaboration between industry giants and dedicated non-profits, propelling Bitcoin’s development forward. With increased support for its core developers, the future of the world’s first and most iconic cryptocurrency shines even brighter.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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