Square Adds Bitcoin Policy Lead From US Chamber of Commerce
Julie Stitzel was at the U.S. Chamber of Commerce's Center for Capital Markets Competitiveness prior to joining Square.
The announcement comes as the environmental impact of mining for the world's largest cryptocurrency has come under intense scrutiny.
“If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community,” Dorsey said in the Twitter thread.
Of the remaining $25 million, $5 million was distributed to create The Bitcoin Endowment.
Crash in the leading cryptocurrency hitting related companies.
Square's Cash App generated $3.51 billion of bitcoin revenue in the first quarter of 2021, according to a shareholder letter published Thursday.