Twitter CEO Jack Dorsey and rapper Jay-Z have teamed up to donate 500 bitcoins ($ 23.5 million) to teams in Africa and India. The co-founder of the social network wrote about this in a separate tweet:
“JAY-Z and I will donate 500 BTC to a new fund called ₿trust to fund Bitcoin development, initially targeting teams in Africa and India. It will be created as a trust, not subject to our management. First, we need 3 board members . “
With his message, he attached an application form that must be filled out for membership in the council of the trust.
CEO of Binance CZ was nominated the first member kriptosoobschestva, but rejected the offer, saying that he was “not the best candidate, because I pulled in different directions, and time is too short.”
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
The head of the world’s leading cryptocurrency exchange added that, without being able to participate in the work of the trust, when it launches, he would be happy to make a donation.
For several days, Dorsey donated $ 1 million to Coin Center, a leading non-profit organization dedicated to the political issues facing cryptocurrencies. The fund is focused on India and Africa, while at the same time not setting a geographic framework.
The CEO of Indian crypto exchange WazirX commented on Dorsey’s move:
“Great initiative for Indian developers. Such initiatives would not have been possible if India had planned to ban cryptocurrencies. “