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Coinbase has made a significant stride in fostering Bitcoin innovation by donating $3.6 million to Brink, a nonprofit committed to advancing the Bitcoin protocol. This move comes as Coinbase winds down GiveCrypto, its initiative aimed at combating poverty through cryptocurrency donations, which, despite its noble intentions, struggled to make a lasting impact. Brink, established in 2020, focuses on research, development, and supporting the Bitcoin developer community through fellowships and grants, aiming to enhance the Bitcoin ecosystem’s strength and innovation.
This donation, one of the largest to Bitcoin open-source development from a leading cryptocurrency company, underscores Coinbase’s commitment to the future of Bitcoin. Brink co-founder Mike Schmidt welcomed the donation, highlighting its potential to significantly boost their mission. By funding, educating, and mentoring Bitcoin developers, Brink aims to ensure the Bitcoin network’s continuous growth and resilience, solidifying the cryptocurrency’s foundation for years to come.
