Crypto billionaire Sam Bankman-Fried donates $ 450,000 to nonprofit that supports bitcoin developers

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FTX

Sam Bankman-Fried has pledged a multi-year donation to a nonprofit that supports bitcoin developers. The founder of FTX has pledged $ 150,000 per year over three years to support Brink Technology. The proceeds will sponsor bitcoin developers as part of their scholarship programs. Sign up for our daily newsletter, 10 things before the opening bell here.

Cryptocurrency billionaire Sam Bankman-Fried has pledged nearly half a million to a nonprofit that supports bitcoin developers, in keeping with the 29-year-old “win-to-give” philosophy.

The founder of FTX, a cryptocurrency derivatives exchange, has pledged $ 150,000 per year over three years to support Brink Technology, an organization that supports the bitcoin community. The value will sponsor bitcoin developers participating in their scholarship programs.

Bankman-Fried’s donation is Brink’s first multi-year commitment from a cryptocurrency exchange.

Brink, founded by senior Bitcoin contributors and education veterans, aims to create a pipeline of new engineering talent with the goal of keeping open source software active to strengthen the protocol and network of the active.

Hong Kong-based Bankman-Fried said he believes in the importance of educational programs like Brink’s to further expand the rapidly changing space.

“We are delighted that FTX is the first donor to commit to multiple years of funding, which gives us the financial stability necessary to invest in the long-term Bitcoin open source developer community,” said the co-founder of Brink, John Newbery, in a statement.

Bankman-Fried, who is notoriously low-key, has long made it known that he intends to donate most of the money he earns to causes he believes in.

Among these was President Joe Biden’s presidential campaign. Bankman-Fried was one of Biden’s biggest donors, contributing as much as high-profile CEOs like Google’s Eric Schmidt and Netflix’s Reed Hastings.

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