Gemini cryptocurrency exchange has donated $200,000 to Bitcoin Core developers through it’s newly launched Gemini Opportunity Fund.
Gemini, founded and run by the renowned Winklevoss twins, is actively funding the ongoing development of the preeminent cryptocurrency, starting with two major donations.
As originally reported by Decrypt, the Gemini website outlines the details of the Gemini Opportunity Fund. The effort is a donor-advised fund that aims to support the ongoing development of the Bitcoin Core ecosystem through grants, fellowships, and donations.
As per the release, the fund hopes to support Bitcoin Core developers that are working on improving the usability, security, and resilience of the Bitcoin Network.
$50k to Human Rights Foundation BTC Dev Fund
The Gemini Opportunity Fund has begun its initiative with two separate donations to support Bitcoin Core developers.
$50,000 worth of BTC will be donated to the Human Rights Foundation’s Bitcoin Development Fund, which is used to directly support individuals and teams working on specific projects within the Bitcoin network. 95 percent of these donations will go to developers, while the remaining 5 percent is used to support the Human Rights Foundation’s general advocacy efforts.
The Human Rights Foundation’s Bitcoin Development Fund has received $188,668 in donations from 93 donors as of December 1, 2020. A number of reputable developers and teams have received donations from the fund.
This includes UK-based developer and Bitcoin privacy expert Chris Belcher who is working on ‘CoinSwap’, which is aimed at making it far more difficult for authorities to trace Bitcoin transactions. Gloria Zhao is another recipient of funding. The UC Berkeley Graduate is currently working on Package Mempool Accept, which aims to increase Bitcoin’s processing capability, improve Lightning Network usability, and lay the foundation for “package relay.”
Another recipient is Evan Kaloudis, creator of Zeus, which is an iOS and Android app that lets individuals use Bitcoin and Lightning nodes from personal devices.
$150k to NPO Brink
The Gemini Opportunity Fund will also donate $150,000 in BTC to London-based non-profit fellowship program Brink. The organization will provide funding and mentorship to Bitcoin developers, with former Chaincode Labs developer John Newbery and Blockstream alumnus Mike Schmidt heading up the project.
Both developers have been involved in the Bitcoin Core development space for a number of years.