Block CEO Jack Dorsey intends to donate $5 million to the Brink Foundation in order to support Bitcoin Core developers.
The funding will reportedly come from the Start Small initiative that Dorsey launched back in 2020, whose initial purpose was to provide assistance during the COVID-19 pandemic.
Brink is a non-profit organization founded by Bitcoin developers John Newbery and Mike Schmidt. It will receive $1 million from Start Small each year for five years.
According to the foundation's website:
"Brink exists to strengthen the Bitcoin protocol and network through fundamental research and development, and to support the Bitcoin developer community through funding, education, and mentoring."
Brink and mining company Marathon Digital Holdings have previously announced the launch of a $1 million funding program to support Bitcoin Core developers.