Coinbase Gives $3.6 Million to Bitcoin Developers

Coinbase, the biggest crypto exchange in the US, has donated $3.6 million to Brink, a non-profit that supports Bitcoin developers.

Funds for Bitcoin Core Developers

Brink announced the donation on Friday, February 16th. The money will go directly to engineers working on the Bitcoin network.

The donation came from GiveCrypto, a Coinbase initiative that gave crypto to people in need. Coinbase ended GiveCrypto in December because it wasn’t making a big enough difference.

Coinbase’s 2024 Plans

Coinbase CEO Brian Armstrong recently shared the company’s plans for 2024. He said:

  • Bitcoin ETFs are now the second largest commodity ETFs in the US.
  • Coinbase holds 90% of the $37 billion in Bitcoin ETF assets.
  • Coinbase will focus on increasing trading fee revenue through international expansion and derivatives.
  • The company will also develop Coinbase Wallet into an “on-chain super app.”

Coinbase shares have risen 27% in the past week, reflecting the company’s positive outlook.