Jack Dorsey, Jay-Z Put 500 Bitcoin Into Trust Supporting Africa and India

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.

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.