Coinbase sponsors at least two Bitcoin Core developers with a new grant program, the San Francisco-based exchange.
In a tweet, Manish Gupta, executive vice president of engineering at Coinbase, said:
“Our Crypto Community Fund aims to grow and improve the entire crypto industry, while making it simpler to use and more secure for everyone. If successful, we intend to expand the program to other types of projects and crypto communities.”
The step comes after years of concern from some Bitcoin community members that Coinbase and other exchanges have taken up the pool of coder talent and made money out of bitcoin but have not explicitly contributed to the open-source Bitcoin Core codebase.
CardCoins, a Wyoming-based startup, became one of the smallest industry players to support Bitcoin Core developers in April of this year.
- Direct contributions to Bitcoin Core
- Significant code and/or Bitcoin Improvement Proposal (BIP) review
- Contributor tooling
- Bitcoin Core libraries and tools
- Improvement to testing
Coinbase would not disclose the fund’s size but said in an emailed statement that it hopes to raise the fund over time.
The exchange contrasted this effort with other developer-focused projects that it has led in the past, such as its USDC Bootstrap Fund, launched in September 2019, which helps developers directly invest in the stablecoin liquidity protocol.