Crypto billionaire Sam Bankman-Fried donates $450,000 to a nonprofit that supports bitcoin developers

Sam Bankman-Fried, founder of FTX and Alameda Research — FTX

Sam Bankman-Fried has pledged a multi-year donation to a nonprofit that supports bitcoin developers.
The founder of FTX has committed a $150,000 per year three-year commitment to support Brink Technology.
The amount will sponsor bitcoin developers going through their fellowship programs.
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Cryptocurrency billionaire Sam Bankman-Fried has pledged nearly half a million to a nonprofit that supports bitcoin developers, in step with the 29-year-old's philosophy of "earning-to-give."

The founder of FTX, a cryptocurrency derivatives exchange, has committed a $150,000 per year three-year commitment to support Brink Technology, an organization that supports the bitcoin community. The value will sponsor bitcoin developers undergoing their fellowship programs.

Bankman-Fried's donation is Brink's first multi-year commitment from a cryptocurrency exchange.

Brink, founded by bitcoin core contributors and education veterans, aims to create a pipeline of new engineering talent in a bid to keep the asset's open-source software strengthen the asset's protocol and network.

Hong Kong-based Bankman-Fried said he believes in the importance of educational programs like Brink's to further expand the rapidly evolving space.

"We're delighted that FTX is the first donor to commit to multiple years of funding, giving us the financial stability to make long-term investments in bitcoin's open-source developer community," Brink co-founder John Newbery said in a statement.

Bankman-Fried, who is famously low-profile, has long made it known that he intends to give away most of the money he earns to causes he believes in.

Among those was the presidential campaign of President Joe Biden. Bankman-Fried was among Biden's biggest donors, contributing as much as big-time CEOs such as Google's Eric Schmidt and Netflix's Reed Hastings.

Read the original article on Business Insider