Black_background_logo_BitcoinWorld-removebg-preview
Coinbase's GiveCrypto Donates $3.6 Million To ‘Brink’ To Fund Bitcoin Developers
Latest News News

Coinbase’s GiveCrypto Donates $3.6 Million To ‘Brink’ To Fund Bitcoin Developers

GiveCrypto, an initiative founded by Coinbase CEO Brian Armstrong “to make direct donations to people in need”, has made a significant donation of $3.6 million to Brink, a non-profit organization dedicated to funding Bitcoin developers.

Brink, founded by renowned Bitcoin developers John Newbery and Mike Schmidt, aims to provide financial support and mentorship to promising developers working on open-source Bitcoin development. 

Interested Bitcoin developers can apply for fellowships and grants from Brink, and see a current list of grantees and alumni on their website here.

“This donation to Bitcoin Core Developers through Coinbase’s GiveCrypto program is one of the largest single Bitcoin developer donations in history,” stated Brink Co-founder and Executive Director Mike Schmidt. 

See Also: Coinbase Named As ‘Custodian In 5 Of 8 Ethereum ETF Applications’ As Revenue Jumped 45%

“Brink is honored to be the recipient of this donation and for the conviction this shows in the important work that Brink engineers are doing day in and day out on the open source software at the core of the Bitcoin ecosystem.”

The substantial donation from GiveCrypto will enable Brink to expand its efforts in funding Bitcoin developers and supporting essential projects within the Bitcoin ecosphere. 

By providing resources and funding to driven developers, Brink aims to accelerate the advancement of the Bitcoin protocol and drive innovation.

“This builds on our previous partnership with Coinbase’s Crypto Community Fund and 100% of these funds will go toward the developers with no strings attached to the contribution,” Schmidt continued.

“I’d like to personally thank Brian Armstrong and John Hering, as well as the team at Coinbase for making this fantastic developer funding donation happen.”

This past December, Bitcoinworld reported that Coinbase announced that they were winding down GiveCrypto, despite its positive impact, because the company wanted to “take a new direction.” 

See Also: Coinbase To Delist The Status (SNT) Altcoin From Its Platform Soon

Therefore, Coinbase declared that they would donate the remaining funds of GiveCrypto to Brink and GiveDirectly

“Brink is working to strengthen the Bitcoin software and protocol and GiveDirectly is better equipped to ensure crypto donations reach those who need them most and will experience sustained benefits,” Coinbase stated then.

#Binance #WRITE2EARN

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.