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

"It‘ll be set up as a blind irrevocable trust, taking zero direction from us," said Dorsey.

Feb 12, 2021, 10:11 AM

Updated Aug 19, 2021, 7:14 AM

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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.

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