The world’s fastest-growing cryptocurrency exchange, FTX, has announced that it is committing $450K to Brink Technologies over three years. The exchange will be committing $150K per year to Brink under the partnership.
Brink is a non-profit organization that focuses on supporting the Bitcoin community through grant programs and developer fellowships. This is the first instance where Brink has secured a multi-year commitment from a cryptocurrency exchange.
Details Of The Partnership
According to the terms of the partnership between FTX and Brink, FTX will cover the costs of Bitcoin developers who are undergoing their fellowship with Brink. Brink is striving to create an environment that supports active Bitcoin developers and nurtures new talent to keep Bitcoin’s open-source software development going. Brink has been founded by core contributors to Bitcoin and veterans from the Bitcoin education field.
Views On The Partnership
The Co-Founders of both FTX and Brink Technologies shared their views on the partnership. CEO of FTX Sam Bankman-Fried commented,
“Bitcoin is foundational to the entire crypto space, and Brink is doing phenomenal work recruiting and supporting a new generation of talent to keep the network strong. We believe educational programs and opportunities for research like this are essential, and this partnership represents one of many initiatives FTX plans to make to educate further those looking to find ways to be a part of this new and expanding field.”
John Newberry, the Co-Founder of Brink, further added,
“Brink’s mission is to provide support to open-source developers and strengthen the Bitcoin protocol and network. We’re delighted that FTX is the first donor to commit to multiple years of funding, giving us the financial stability to make long-term investments in Bitcoin’s open-source developer community.”
Built By Traders, For Traders
FTX is an exchange that has been created by traders for traders, offering innovative products such as options, industry-leading derivatives, tokenized stocks, prediction markets, leveraged tokens, etc. FTX is an intuitive platform that is ideal for all kinds of users and is among the most innovative exchanges in the crypto space.
Strengthening The Bitcoin Network
Blink Technologies focuses on significantly improving the Bitcoin protocol through development and research. It also supports the Bitcoin developer community through mentoring, funding, and education.
The $900 Million Funding Round
FTX has come a long way since its beginning and today counts over a million registered users that span from experienced traders to day traders and family offices. Recently, FTX created waves when it raised the largest private equity round in crypto history, raising $900 Million in Series B fundraising round, pushing its valuation to beyond $18 Billion.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.