Brink, a nonprofit organization aimed at supporting bitcoin developers, has announced a $5 million donation from Block CEO Jack Dorsey and his Start Small funding group.
In a June 14 tweet, Brink said Dorsey and Start Small had pledged to donate $1 million per year for the next five years as part of a "developer funding effort." Before stepping down as Twitter CEO, Dorsey launched the fund in April 2020 to fight the COVID-19 pandemic. At the time, the Twitter CEO said he had committed $1 billion to the fund.
According to Start Small's website, the fund had more than $1.4 billion at launch, with more than $500 million allocated to projects including the Tor Project the nonprofit behind the anonymous Tor browser and Signal Technology, which supports Signal. Foundation messaging app and digital privacy education platform Calyx Institute. Founded in 2020, Brink offers scholarships and funding programs to support open-source Bitcoin developers and engineers. In addition to cryptocurrency supporters like Dorsey, digital asset firms like Nexo have previously donated to the organization as part of efforts to support BTC developers.
Different companies in the cryptocurrency and blockchain space have made similar efforts to launch funds, encouraging developers to come out of the woods. Dogecoin In December 2022, Metaverse developer Animoca Brands launched a fund for core developers with $360,00 0, and it was reported that Metaverse developer Animoca Brands plans to set up a $1 billion fund for startups.
