Jack Dorsey and Jay-Z to set up 500 BTC blind Bitcoin trust in India, Africa

Regulation

Twitter CEO Jack Dorsey has announced the creation of a blind Bitcoin (BTC) development trust worth 500 BTC ($23.7 million), along with rapper Jay-Z, for teams working on the project in India and Africa.

Dorsey revealed the creation of the trust on Feb. 12 while sending out a call for three board members to oversee the blind trust initially.

Dubbed the ₿Trust, the application form for board members reveals the mission statement, “Make Bitcoin the internet’s currency.”

The Twitter CEO’s tweet appeared just hours after news broke concerning India’s alleged plans to completely ban the use of cryptocurrencies within its borders. The world’s second-most populated country could soon move to ban all crypto-assets, giving users a 3–6 month grace period to liquidate their holdings, according to an anonymous source who spoke to Bloomberg.

On Feb. 10, Jack Dorsey donated $1 million to the Washington D.C-based nonprofit organization Coin Center which also received a $2 million donation from asset management firm Grayscale. Dorsey’s ongoing infatuation with Bitcoin recently saw him set up a Bitcoin full-node from his Macbook, meaning he now has a hand in verifying the Bitcoin blockchain.

Products You May Like

Articles You May Like

Price analysis 10/18: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI
Crypto as a “public good” in the 22nd century
Aussie cyber spies to control critical infrastructure during ransomware attacks
Famed Brit photographer Platon’s NFTs have stars in their eyes
Cardano price paints ‘death cross’ with ADA at two-month lows vs. Bitcoin

Leave a Reply

Your email address will not be published. Required fields are marked *