Coinbase wants to give back to the community from which it came; a humble Rails project. Ever since the first commit, Coinbase has relied tremendously on open source software to build its systems and products. As they have grown over the years, they open sourced their work to assist others with their projects.
Many of the projects they used to build Coinbase, needs continued support to flourish, either in the form of code contributions or financial support. Like many fast growing startups, most of their focus has gone into growing and supporting the company and they didn't have the means, time or resources to devote to helping these projects. Now they have the chance and are now dedicating monthly resources and time to assist and support these projects.
To give back to the community that got us started, we’re excited launch Coinbase Open Source Fund from which we’ll be donating $2500 each month to open source projects.
Specific projects will be selected monthly by the members of Coinbase’s engineering team based on Coinbase’s current and future use. We’ll also consider projects we think benefit to the greater open source community and don’t have a significant corporate sponsor. Each month we’ll post them to our engineering blog and to our open source site. On top of this new financial support, we will continue supporting projects through paid Pro.