Jack Dorsey to earmark $5 million for Bitcoin Core developers

Block’s chief Jack Dorsey will earmark $5 million for the Brink fund to support Bitcoin Core developers. This is reported by Decrypt.

Funding will be channelled under the Start Small initiative that Dorsey launched in 2020. Its initial aim was to provide relief during the COVID-19 pandemic.

The nonprofit Brink, founded by Bitcoin developers John Newbery and Mike Schmidt, will receive $1 million per year from Start Small for five years.

“Brink exists to strengthen the Bitcoin protocol and network through fundamental research and development, and to support the developer community through funding, education and mentorship,” the foundation’s site says.

Earlier, Brink and the mining company Marathon Digital Holdings announced the launch of a fundraising program в размере $1 млн to support Bitcoin Core developers.

Earlier in February 2021, 100x Group, operator of the BitMEX crypto-derivatives exchange, announced the provision of a grant to Bitcoin Core developer Michael Ford in the amount of $100,000.

Later, its colleague Jonas Schnelli left the project due to a shift in priorities and “increasing legal risks associated with writing code for Bitcoin.”