FTX Makes a $450,000 Multi-Year Commitment to Brink Technology

Kavya  |  Aug 14, 2021

FTX, the world's fastest-growing cryptocurrency exchange, made a $450,000 multi-year commitment to Brink Technology for the next three years. Under the terms of the agreement, the exchange will contribute $150K per year to Brink.

FTX Makes A $45,000 Commitment To Brink Technology

Brink is a non-profit dedicated to assisting the Bitcoin community through grant programs and development fellowships. This is the first time a cryptocurrency exchange has made a multi-year commitment to Brink.

According to the conditions of the FTX-Brink cooperation, FTX will reimburse the costs of Bitcoin developers participating in Brink's fellowship program. 

Brink is working to establish an environment that encourages active Bitcoin developers and develops new talent to keep the open-source software development of Bitcoin alive and well. 

It was developed by Bitcoin's main contributors and veterans of the Bitcoin education community.

Perspectives On The Partnership

Both FTX and Brink Technologies' co-founders expressed their opinions on the partnership. Sam Bankman-Fried, the CEO of FTX, said,

“Bitcoin is the backbone of the crypto ecosystem, and Brink is doing an incredible job of hiring and nurturing a new generation of talent to keep the network strong. 

We feel that educational programs and research opportunities like this are critical, and this relationship is one of several that FTX plans to launch to help educate anyone interested in learning more about this new and emerging field.”

Brink's Co-Founder, John Newberry, went on to say,

“Brink's objective is to support open-source developers while also enhancing the Bitcoin protocol and network. 

We are ecstatic that FTX is the first donor to commit to multiple years of financing, allowing us to make long-term investments in the Bitcoin open-source development community.”

Traders Built It For Traders

Options, industry-leading derivatives, tokenized equities, prediction markets, leveraged tokens, and other innovative products are available on FTX, which was founded by traders for traders. 

FTX is a user-friendly platform that is suitable for a wide range of consumers and is one of the most creative cryptocurrency exchanges.

Strengthening Bitcoin's Network

Blink Technologies' development and research efforts are aimed at dramatically improving the Bitcoin protocol. It also provides mentoring, funding, and instruction to the Bitcoin developer community.

The $900 Million Round Of Funding

Since its inception, FTX has grown to over a million registered members, ranging from seasoned traders to day traders and family offices. 

FTX recently made headlines by raising the largest private equity investment in crypto history, earning $900 million in a Series B fundraising round, boosting its valuation to more than $18 billion.

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