Over a span of five years, Jack Dorsey plans to donate $5M to Bitcoin developers

Jack Dorsey, the co-founder of Twitter and CEO of fintech company Block, has made a commitment to donate $5 million to the Brink Foundation. This foundation provides support to developers working on the bitcoin ecosystem and Lightning technology. The contribution will be disbursed over a period of five years as part of Dorsey’s Start Small initiative.

Founded in 2020 by Bitcoin developers John Newbery and Mike Schmidt, the Brink Foundation’s mission is to strengthen the Bitcoin protocol and network through basic research and development. The foundation also aims to support the Bitcoin developer community by providing funding, education, and mentorship opportunities.

Dorsey’s Start Small initiative, launched three years ago, initially focused on supporting projects affected by the pandemic. With an initial investment of $1 billion, Dorsey has extended his financial support to various industry projects, including the Tor Project, Signal Technology Foundation, Calyx Institute, and others.