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Jack Dorsey, Jay-Z Put 500 Bitcoin Into Trust Supporting Africa and India
"It‘ll be set up as a blind irrevocable trust, taking zero direction from us," said Dorsey.
Updated Sep 14, 2021, 12:10 p.m. Published Feb 12, 2021, 10:11 a.m.
Twitter CEO Jack Dorsey announced Friday that he will partner with rapper Jay-Z and donate 500 bitcoin (currently worth about $23.6 million) to set up a new endowment trust supporting Bitcoin development in Africa and India.
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- Bitcoin advocate Dorsey tweeted the funds will go into a new endowment trust named “₿trust” initially focused on those two regions.
- "It‘ll be set up as a blind irrevocable trust, taking zero direction from us," said Dorsey.
- Dorsey shared a link for potential ₿trust board members to apply to help oversee the trust.
- On Wednesday, Dorsey donated $1 million to cryptocurrency policy think tank Coin Center, according to an announcement tweeted by the organization's director Jerry Brito.
JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: https://t.co/L4mRBryMJe
— jack⚡️ (@jack) February 12, 2021
Read more: Twitter CEO Donates $1M to Coin Center
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