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 Africa and India.

• Bitcoin advocate Dorsey tweeted the funds will go into a new endowment trust named “₿trust” initially focused on those two areas.
• “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.

Read more: Twitter CEO Donates $1M to Coin Center