FTX Contributes $450,000 to Brink's Bitcoin Development

The development of the item that got us here, Bitcoin, is being sponsored by FTX.

- According to a statement on Friday, the cryptocurrency exchange would donate $150,000 each year for the next three years to Brink, a nonprofit that helps support Bitcoin's open-source development community.

- In a statement, FTX founder Sam Bankman-Fried stated, "Bitcoin is fundamental to the entire crypto industry, and Brink is doing great work hiring and supporting a new generation of talent to keep the network healthy."

- Brink was founded in 2020 with support from the Human Rights Foundation, Square Crypto, and Gemini, a cryptocurrency exchange. Since then, Nexo, a cryptocurrency lender, and others have contributed.

- FTX joins a growing number of cryptocurrency companies who are stepping up to assist Bitcoin Core members' open-source efforts. It is the first business to commit to a multi-year contribution.

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