{"id":36351,"date":"2021-02-12T14:08:36","date_gmt":"2021-02-12T12:08:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36351"},"modified":"2025-08-29T05:55:40","modified_gmt":"2025-08-29T02:55:40","slug":"jack-dorsey-and-jay-z-to-earmark-500-btc-for-bitcoin-developers","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/jack-dorsey-and-jay-z-to-earmark-500-btc-for-bitcoin-developers\/","title":{"rendered":"Jack Dorsey and Jay-Z to earmark 500 BTC for Bitcoin developers"},"content":{"rendered":"<p>CEO Twitter Jack Dorsey announced that, together with rapper and producer Sean Corey Carter, known as Jay-Z, he would allocate 500 BTC (~$23.6 million) to a fund financing Bitcoin developers. <!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">JAY-Z\/<a href=\\\"https:\/\/twitter.com\/S_C_?ref_src=twsrc%5Etfw\\\">@S_C_<\/a> and I are giving 500 BTC to a new endowment named \u20bftrust to fund <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> development, initially focused on teams in Africa &#038; India. It\u2018ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: <a href=\\\"https:\/\/t.co\/L4mRBryMJe\\\">https:\/\/t.co\/L4mRBryMJe<\/a><\/p>\n<p>\u2014 jack (@jack) <a href=\\\"https:\/\/twitter.com\/jack\/status\/1360114881978982403?ref_src=twsrc%5Etfw\\\">February 12, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><br \/>\nThe \u20bftrust fund will be primarily aimed at professionals from Africa and India.<\/p>\n<blockquote>\n<p>&#8220;It will be set up as a blind irrevocable trust, taking no direction from us. To begin with, we will need three board members,&#8221; Dorsey clarified.<\/p>\n<\/blockquote>\n<p>He attached the application form for candidates to the tweet. In the replies, some suggested that the Binance CEO join the board.<\/p>\n<blockquote>\n<p>Thanks for the nomination, but I am not a good candidate as I am dragged in a lot of different directions, too little time. Happy to make a donation once this is up and running though. Good luck <a href=\\\"https:\/\/twitter.com\/jack?ref_src=twsrc%5Etfw\\\">@jack<\/a>. Awesome work!<\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\\\"https:\/\/twitter.com\/cz_binance\/status\/1360120456926269440?ref_src=twsrc%5Etfw\\\">February 12, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In the fund&#8217;s governance mission, Dorsey describes Bitcoin as the currency of the Internet. Earlier, he had repeatedly called digital gold <a href=\"https:\/\/u1f987.com\/en\/news\/jack-dorsey-bitcoin-is-the-best-implementation-of-an-online-currency\">the best candidate<\/a> for this role.<\/p>\n<p>The cryptocurrency arm of the company Square, founded and led by Dorsey, has repeatedly funded Bitcoin developers. In 2019 and 2020, Square Crypto awarded grants to develop the Bitcoin&#8217;s second-layer network, the Lightning Network.<\/p>\n<p>In November last year the firm <a href=\"https:\/\/u1f987.com\/en\/news\/square-crypto-awards-grant-to-bitcoin-wallet-interface-designer\">financially supported<\/a> the Bitcoin wallet designer Maggie Valentine.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/coin-center-receives-1-million-donation-from-jack-dorsey\">Earlier, Jack Dorsey <a href=\"https:\/\/u1f987.com\/en\/news\/coin-center-receives-1-million-donation-from-jack-dorsey\">donated $1 million<\/a> to Coin Center, following <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-investments-donates-1-million-to-coin-center-to-defend-crypto-industry-interests\">the example set by Grayscale Investments<\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CEO Twitter Jack Dorsey announced that, together with rapper and producer Sean Corey Carter, known as Jay-Z, he would allocate 500 BTC (~$23.6 million) to a fund financing Bitcoin developers.<\/p>\n","protected":false},"author":1,"featured_media":36352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1192,1330,1133],"class_list":["post-36351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-developers","tag-jack-dorsey","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36351"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36351\/revisions"}],"predecessor-version":[{"id":36353,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36351\/revisions\/36353"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36352"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}