Jack Dorsey’s relief fund donates $5M to Bitcoin nonprofit.
Brink, a non-profit organization that aims to support Bitcoin developers, has announced that it has received a $5 million donation from Block CEO Jack Dorsey and his Start Small funding group.
Brink tweeted on June 14 that Dorsey and Start Small have pledged to donate $1 million annually for the next five years as part of their “developer funding efforts.” Dorsey launched the fund in April 2020 to combat the COVID-19 pandemic before stepping down as CEO of Twitter. At that time, he had seeded the fund with $1 billion.
According to Start Small’s website, the fund had more than $1.4 billion in funding at the time of publication, with over $500 million distributed to projects such as the Tor Project, which is behind the anonymous Tor Browser; the Signal Technology Foundation, which supports the Signal messaging app; and the Calyx Institute, a digital privacy education platform.
Brink tweeted, “Honored to receive a very generous $5,000,000 pledge to our developer funding efforts from @jack and #startsmall Brink will receive $1,000,000 per year for the next 5 years. Thank you for supporting #bitcoin developers!”
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— Brink (@bitcoinbrink) June 14, 2023
Founded in 2020, Brink offers fellowship and grant programs to support open-source Bitcoin (BTC) developers and engineers. Aside from crypto supporters like Dorsey, digital asset firms such as Nexo have previously made donations to the group as part of efforts to support BTC developers.
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Different firms within the crypto and blockchain space have made similar efforts to start funds encouraging developers to come out of the woodwork. Dogecoin (DOGE) started a fund for core developers in December 2022 with $360,000, and metaverse developer Animoca Brands reportedly planned a billion-dollar fund for startups.
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