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Bitcoin Exchange Kraken to Fund Ethereum Projects

Kraken will begin funding Ethereum projects on Gitcoin. The popular crypto exchange will match $150,000 in donations on the fundraising platform.

Kraken Becomes the First Crypto Exchange to Obtain Banking Charter

Key Takeaways

  • Kraken will match $150,000 in donations to fund Ethereum projects on Gitcoin.
  • The exchange will be the lead contributor to Gitcoin Grants Round 8 this month.
  • Kraken’s funding will go to developers building key Ethereum software.

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Kraken will provide funding to the Ethereum ecosystem.

The San Francisco cryptocurrency exchange has pledged to match $150,000 in donations to fund Ethereum projects with Gitcoin.

Kraken Funds Ethereum

The exchange will provide the funds as part of Gitcoin Grants Round 8, which is happening from Dec. 2 through Dec. 17. It’s the company’s first donation to an Ethereum project, and they’ll be the lead contributor to the funding. 

Kraken’s funding will go to teams in the “Ethereum Infrastructure Tech” category, aimed at projects building key software for the blockchain.

Announcing Kraken’s sponsorship, Gitcoin’s CEO Kevin Owocki said: 

“Ethereum and DeFi are built on open-source software. With their generous contribution, Kraken is excited to give back to the volunteer developers building the infrastructure of the crypto economy”

Gitcoin is a platform for funding projects related to Ethereum. Users of the site can fund a variety of different teams focusing on building infrastructure and community projects, but all applicants are heavily involved in the Ethereum space. 

The grant rounds use what Vitalik Buterin refers to as Quadratic Funding to fund “public goods” that benefit Ethereum, with contributions matched by sponsors like Kraken. The platform’s latest round raised $274,830 in contributions and $450,000 in matched funds. 

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