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BlockFi Sponsors Brink to Support Open Source Bitcoin Development

Published, 4 June, 2021

BlockFi is proud to announce its sponsorship of Brink, a 501(c)(3) non-profit organization dedicated to strengthening the Bitcoin protocol and network through fundamental research and development. BlockFi recently donated $150,000 to aid in Brink’s mission of providing access to funding, education, and mentoring for the Bitcoin developer community.

Launched in November 2020, Brink helps drive open source Bitcoin development by giving financial support to the work of established Bitcoin protocol engineers through a grants program, while also supporting and mentoring new contributors to open source Bitcoin development through its fellowship program.

One of the primary reasons Bitcoin has been so successful as a global digital currency is the critical work done by developers who build and test its fundamental infrastructure. In many cases, these developers work independently, without the formal aid or support of institutions.

By providing both financial and educational assistance to these developers, Brink is playing an important role in strengthening Bitcoin—and cryptocurrency as a whole—as an alternative to traditional financial systems. These values are shared by BlockFi, which is committed to expanding cryptocurrency access and inclusivity around the globe.

“BlockFi has always been dedicated to making the underlying technology powering the Bitcoin market as stable and strong as possible, and that’s why this sponsorship of Brink is a natural fit for us,” said Zac Prince, Founder and CEO of BlockFi. “Brink’s focus on transparency and accountability make it an invaluable resource for Bitcoin developers from all walks of life.”

Brink Co-Founders John Newbery and Mike Schmidt are experienced technologists within the crypto space. Their initiative is entirely funded by donations from individuals and organizations who wish to support the open source Bitcoin network and protocol.

“Brink is grateful for BlockFi’s generous financial support and excited that a large industry participant like BlockFi realizes the value of both supporting existing developers and educating talented new contributors,” Brink Co-Founder Mike Schmidt said.

To address the need for more developers, Brink is offering a one-year onsite fellowship program to onboard exceptional candidates into Bitcoin protocol development, as well as rolling one-year grants that allow established contributors to focus on Bitcoin full-time. The grants program is open to developers worldwide.

If you'd like to learn more about Brink, apply to their programs, or contribute to their organization, you can find out more at brink.dev.

Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person's nationality, residence or otherwise.

Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections. Learn more at BlockFi.com.

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Last updated on June 4th, 2021

As of February 14, 2022, the BlockFi Interest Account (BIA) is no longer available to new clients who are US persons or persons located in the US and existing US clients with BIA accounts are unable to transfer new assets to their BIAs. Learn More.

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See blockfi.com/terms for more information.

BlockFi Sponsors Brink to Support Open Source Bitcoin Development

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