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Bitcoin Development Boost: FTX Is Donating $450K to Brink
Sam Bankman-Fried's crypto exchange is committing to a three-year sponsorship of the coding nonprofit.
By Zack Seward
Updated Sep 14, 2021, 1:39 p.m. Published Aug 13, 2021, 2:15 p.m. 1 min read
FTX is sponsoring the development of the thing that brought us here: Bitcoin.
- The cryptocurrency exchange is committing $150,000 a year for the next three years to Brink, an organization that helps fund Bitcoin's open-source developer community, according to an announcement on Friday.
- "Bitcoin is foundational to the entire crypto space, and Brink is doing phenomenal work recruiting and supporting a new generation of talent to keep the network strong," FTX founder Sam Bankman-Fried said in a statement.
- Brink launched in 2020 with funding from the Human Rights Foundation, Square Crypto and crypto exchange Gemini. Crypto lender Nexo and others have chipped in since then.
- FTX joins a growing list of crypto firms stepping up to the plate to keep the open-source work of Bitcoin Core contributors well supported. It is the first company to make a multiyear donation commitment.
Read more: Human Rights Foundation, Compass Mining Give $80K to Sponsor Bitcoin Developer
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Welcome to The Protocol, CoinDesk's weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk.
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