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- 1 GiveCrypto, an investment firm associated with Coinbase, announced a donation for Brink, a firm working for the betterment of the Bitcoin blockchain.
- 2 With these funds, we will continue our mission to support the Bitcoin developer ecosystem through funding, education, and mentoring, said Mike Schmidt.
- 3 Brian Armstrong, the Chief Executive Officer of Coinbase, recently disclosed thrilling insights into the considerable majority of Bitcoin ETF assets held within Coinbase’s custodial solutions.
GiveCrypto, an investment firm of Coinbase Global Inc, has announced the donation of $3.6 Million to Brink, a firm working for the betterment of Bitcoin.
Brink is a non-profit organization that supports the developers of the Bitcoin blockchain. On February 16, 2024, the firm posted the information of the funds received from the GiveCrypto on its X account.
The post extended the company’s gratitude to Brian Armstrong, Coinbase, and the employees who supported the firm.
“100% of the no-strings-attached funds will go towards Brink engineers and their open-source development work on Bitcoin,” said the firm in its post. Coinbase and several other crypto-based companies have already funded the companies working to improve the Bitcoin blockchain.
Brink was founded in 2020 to work for the betterment and development of the Bitcoin blockchain. John Newbery and Mike Schmidt collectively founded the firm and have employed several other experts and engineers.
Mike Schmidt said, “Brink is excited to receive one of the biggest Bitcoin open-source developer donations from one of the biggest companies in the space, Coinbase.” He adds, “With these funds, we will continue our mission to support the Bitcoin developer ecosystem through funding, education, and mentoring.”
As per Mike Coinbase’s recent donation, the “largest single Bitcoin developer donations in history,” earlier, the centralized exchange donated $300,000 to Brink.
Coinbase said following the donation, “Brink is working to strengthen the Bitcoin software and protocol, and GiveDirectly is better equipped to ensure crypto donations reach those who need them most and will experience sustained benefits.”
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Brian Armstrong, a renowned crypto enthusiast and the Chief Executive Officer of Coinbase, recently disclosed thrilling insights into the considerable majority of Bitcoin ETF assets held within Coinbase’s custodial solutions.
Crypto Market Update
The entire cryptocurrency market is flourishing at an impressive rate, and in the past few months, a significant boost in global crypto adoption has been seen. Bitcoin (BTC) is the most popular cryptocurrency that dominates around 52% of the market.
In the past few weeks, the market capitalization of the crypto industry has surged significantly, and earlier on February 16, the market cap made several attempts to surpass the much-awaited milestone of $2 Trillion.
When writing, the market cap of the crypto industry was $1.93 Trillion, after reflecting a significant decline in the intraday time frame. However, BTC also showed a minute decline in the past 24 hours, and it was trading at $51,645 at the time of publishing.
Since its approval in January 2024, the Bitcoin spot ETF has accumulated $37.29 Billion in assets under Management (AUM).
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
