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.

AccessTimeIconAug 13, 2021 at 2:15 p.m. UTC
Updated Sep 14, 2021 at 1:39 p.m. UTC

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.

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