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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 Edgea non-profit organization dedicated to funding bitcoin developers.
Brink is pleased to announce a $3.6 million donation to our bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin GiveCrypto Development Funding Efforts!
thanks to @brian_armstrong and the @coinbase equipment as well as @johnhering and @FEhrsam Thank you for your support in making this happen!
– Edge (@bitcoinbrink) February 16, 2024
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 Brink scholarships and grants and view an updated list of recipients and alumni on their website. here.
“This donation to core bitcoin developers through Coinbase's GiveCrypto program is one of the largest donations to bitcoin developers in history,” said Brink's co-founder and CEO. Michael Schmidt. “Brink is honored to receive this donation and the belief it demonstrates in the important work that Brink engineers do day after day on the open source software at the core of the bitcoin ecosystem.”
GiveCrypto's significant donation will allow Brink to expand its efforts to fund bitcoin developers and support essential projects within the bitcoin ecosphere. By providing resources and funding to motivated 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 to developers with no conditions on contribution,” Schmidt continued. “I would like to personally thank Brian Armstrong and John Hering, as well as the Coinbase team for making this fantastic developer funding donation a reality.”
Last December, Coinbase Announced that they were shutting down GiveCrypto, despite its positive impact, because the company wanted to “go in a new direction.” Therefore, Coinbase stated that they would do so. donate the remaining GiveCrypto funds to Brink and Give directly.
“Brink is working to strengthen the bitcoin software and protocol and GiveDirectly is better equipped to ensure that cryptocurrency donations reach those who need them most and experience sustained benefits,” Coinbase stated at the time.