GiveCrypto, an initiative founded by Coinbase CEO Brian Armstrong to “make direct donations to people in need,” has made a major donation of $3.6 million to Brink, a non-profit dedicated to funding Bitcoin developers.
Brink's is pleased to announce a $3.6 million donation to our foundation #Bitcoin GiveCrypto's development funding efforts!
Thank you @BrianArmstrong And the @coinbase The team as well @johnhring And @FEhrsam For your support in making this happen!
– Brink (@bitcoinbrink) February 16, 2024
Founded by renowned Bitcoin developers John Newberry and Mike Schmidt, Brink 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 view the 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 Bitcoin developer donations in history,” said Mike Schmidt, co-founder and CEO of Brink. “Brink is honored to be the recipient of this donation and for the conviction that this shows in the important work that Brink engineers do day in and day out on the open source software at the heart of the Bitcoin ecosystem.”
The significant donation from GiveCrypto will enable Brink to expand its efforts in funding Bitcoin developers and supporting core projects within the Bitcoin ecosystem. By providing resources and funding to developers, Brink aims to accelerate the progress 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 to developers without any restrictions associated with contributing,” Schmidt continued. “I would like to personally thank Brian Armstrong and John Herring, as well as the Coinbase team for making this amazing developer funding donation.”
Last December, Coinbase announced that it was terminating GiveCrypto, despite its positive impact, because the company wanted to “take a new direction.” Therefore, Coinbase abandoned its desire to do so Donate remaining funds from GiveCrypto to Brink and GiveDirectly.
“Brink is enhancing Bitcoin’s software and protocol, and GiveDirectly is better equipped to ensure that cryptocurrency donations reach those who need them most and will receive sustainable benefits,” Coinbase said at the time.
