The Start Small fund, initiated by Dorsey to combat the COVID-19 pandemic, has amassed over $1.4 billion in funding, with more than $500 million distributed to projects.
Block CEO Jack Dorsey and his Start Small funding group have pledged a substantial $5 million donation to Brink, a nonprofit organization that supports Bitcoin developers. This substantial contribution marks a significant milestone for Brink and the ongoing efforts to foster innovation within the cryptocurrency space.
Brink took to Twitter on June 14 to share the news of this substantial donation. In their announcement, they revealed that Dorsey and Start Small would be committing to donating $1 million annually for the next five years. This long-term commitment demonstrates their dedication to supporting the development of Bitcoin and showcases their belief in the importance of investing in the future of this rapidly evolving technology.
The philanthropic initiative spearheaded by Dorsey, known for his role as the former CEO of Twitter, originally took shape in April 2020. Back then, Dorsey established the Start Small fund with a staggering $1 billion initial investment, aiming to combat the devastating effects of the COVID-19 pandemic. Since its inception, the fund has grown significantly, amassing over $1.4 billion in funding.
Brink’s recent announcement also shed light on the diverse range of projects that have received financial support from the Start Small fund. Among the notable beneficiaries are the Tor Project, responsible for the anonymous Tor Browser, the Signal Technology Foundation, supporting the Signal messaging app, and the Calyx Institute, an educational platform focused on digital privacy. These initiatives have collectively received more than $500 million in funding, enabling them to continue their essential work within the cryptocurrency and privacy sectors.
Established in 2020, Brink has rapidly emerged as a vital force in the Bitcoin community. The organization operates fellowship and grant programs designed to empower and nurture open-source Bitcoin developers and engineers. Brink’s mission aligns perfectly with the objectives of Start Small, making this donation an ideal partnership that will undoubtedly drive innovation and progress within the Bitcoin ecosystem.
The collective efforts of these organizations and philanthropic individuals like Jack Dorsey are instrumental in fostering a vibrant and thriving Bitcoin ecosystem. They empower developers to push the boundaries of innovation and accelerate the mainstream adoption of cryptocurrencies by providing financial resources, mentorship, and opportunities for growth.