3 Teams Receive Funding from $1.2 Million Bitcoin Development Grant, More Funds Incoming Author: Timothy Sohn Last Updated: 09 January 2017 (CoinJournal) – Late last year, a letter was posted on BitcoinDevelopmentGrant.com that announced a $1.2 million grant fund for those working on Bitcoin protocol development. Attached to the letter were five principles agreed to by the signers, which included a wide range of individuals from Bitcoin Core contributor Luke Dashir to Coinbase CEO Brian Armstrong.