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OpenSats Receives $1 Million Donation from The Reynolds Foundation

OpenSats Receives $1 Million Donation from The Reynolds Foundation

Apr 23, 2024

OpenSats Receives $1 Million Donation from The Reynolds Foundation

OpenSats has announced receiving a substantial donation of $1 million from The Reynolds Foundation. This contribution is aimed at advancing projects centered around Bitcoin and freedom tech.

Dr. Álvaro Salas-Castro, President & CEO of The Reynolds Foundation, expressed his organization's commitment to the cause: "As new supporters of OpenSats, we are deeply appreciative of the opportunity to engage with a community that exemplifies transparency, professionalism, and inclusivity, all while championing the acceleration of freedom," he stated. "We firmly believe that the process is just as crucial, if not more so, than the outcome."

The Reynolds Foundation's donation will be allocated entirely to the support of open-source projects and contributors who are dedicated to creating technology that promotes freedom. OpenSats has assured that because their operational budget is covered separately, they can commit the entirety of donations to their open-source funds.

Dr. Salas-Castro underscored the collaborative nature of this initiative, saying, "This ethos, cultivated by the Reynolds Foundation under the visionary leadership of our founder, Tim Reynolds, embodies our commitment to freedom and scalability."

OpenSats took the opportunity to extend an invitation to other philanthropists to contribute to this cause, emphasizing the impact that such collaborative efforts can have on the community they serve. "Together, we can fix the money to fix the world," Salas-Castro added.

The announcement underscores the significance of sustainable funding for technological projects that aim to offer tools for freedom and privacy in the digital age. By directing 100% of the donation to its intended purpose, OpenSats sets an example for how non-profits can operate with financial transparency and dedication to their mission.

OpenSats Blog Post

Bitcoin Magazine Article


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