Jack Dorsey’s Fund Pledges $5 Million to Bitcoin Developers

Billionaire Twitter co-founder Jack Dorsey plans to allocate more capital to the Bitcoin ecosystem after pledging $5 million to the network’s core developers through his grantmaking organization Start Small.

The firm will distribute the funds to the Bitcoin development non-profit, Brink, over the next five years in $1 million annual installments. 

  • According to its website, Brink exists to “support the Bitcoin developer community through funding, education, and mentoring.” 
  • “We are 100% funded by donations from individuals and organizations who wish to support the open-source Bitcoin network and protocol,” the site states.
  • Unlike many blockchain projects, Bitcoin lacks any committed founder, foundation, or company with a financial stake in the protocol’s success. 
  • As such, donations and charity are largely required to support the developers who maintain its codebase, who often rotate
  • “Brink is very grateful for this extended pledge to support our Bitcoin developer funding efforts,” said Brink co-founder Mike Schmidt. “We can help make Bitcoin development a sustainable career for the talented developers that are building, securing, testing, and reviewing the Bitcoin Core codebase.”
  • Last year, Jack Dorsey launched a legal defense fund to defend Bitcoin developers to fight back against lawsuits from self-proclaimed Bitcoin founder Craig Wright. 
  • In 2021, he teamed with Jay-Z to launch a 500 BTC blind trust to assist Bitcoin development teams in Africa and India.  
  • On Thursday, Dorsey’s payment company Block unveiled the beta for its self-custody Bitcoin wallet Bitkey, which will feature special integrations with Coinbase and CashApp. 
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 98,463.38 0.04%
Ethereum (ETH) $ 3,363.47 0.77%
Tether (USDT) $ 1.00 0.00%
Solana (SOL) $ 258.25 0.10%
BNB (BNB) $ 666.21 6.01%
XRP (XRP) $ 1.53 10.03%
Dogecoin (DOGE) $ 0.470387 21.55%
USDC (USDC) $ 0.999616 0.03%
Cardano (ADA) $ 1.08 25.31%
Lido Staked Ether (STETH) $ 3,363.13 0.75%