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Brink, a non-profit organization aimed at supporting Bitcoin developers, announced a $5 million donation from Block CEO Jack Dorsey and his fundraising group Start Small.
In a June 14 tweet, Brink said Dorsey and Start Small have committed to donating $1 million annually for the next five years as part of developer funding efforts. Prior to his departure as CEO of Twitter, Dorsey launched the fund in April 2020 with the aim of combating the COVID-19 pandemic. At the time, Twitter’s CEO said he endowed the fund with $1 billion.
According to the Start Smalls website, the fund had more than $1.4 billion in funding at press time, with more than $500 million distributed to projects including the Tor Project, the non-profit organization. nonprofit behind anonymous Tor browser, Signal Technology Foundation backing Signal messaging app. , and the Calyx Institute, a digital privacy education platform.
Founded in 2020, Brink offers scholarship and grant programs to support open source Bitcoin (BTC) developers and engineers. Along with crypto supporters like Dorsey, digital asset companies like Nexo have already made donations to the group as part of efforts to support BTC developers.
Related: US Share of Global Crypto Developers Dropped 26% in 5 Years a16z
Different companies in the crypto and blockchain space have made similar efforts to launch funds encouraging developers to come out of the woods. Dogecoin (DOGE) launched a core developer fund in December 2022 with $360,000, and metaverse developer Animoca Brands is reportedly planning a $1 billion fund for startups.
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