Jack Dorsey and Jay-Z announces a 500 Bitcoin development trust in India, Africa

Spread the love

Just hours after an anonymous source reported that India will issue a blanket ban on all cryptocurrencies, Jack Dorsey and Jay-Z announced a 500 bitcoin development trust.

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

Dorsey announced the formation of a trust on Feb. 12, at the same time as sending a call for three board members to initially oversee the blind trust.

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

RECOMMENDED READ:  Binance Coin (BNB) sets a new all-time high one day before the token burns.

The Twitter CEO’s tweet came only hours after news emerged regarding India’s reported attempts to fully prohibit the usage of cryptocurrencies inside its borders. The world’s second most populous country could soon move to ban all crypto assets, allowing 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 non-profit organisation Coin Center, which also received a $2 million donation from Grayscale asset management company. Dorsey’s continuing infatuation with Bitcoin recently saw him set up a full-node bitcoin on his Macbook, suggesting that he now has a hand in testing the blockchain bitcoin.

 316 Interactions,  2 today

Shark Tank’s Mr. Wonderful is opening up to Bitcoin; here’s how much he’s planning to spend in BTC.

When Bitcoin rises in mass acceptance, it doesn't come as a surprise that some of the asset's detractors have changed Read more

RECOMMENDED READ:  Bitcoin Adds Another $500 to Its Growing Price
Aave, Binance Coin, Zcash Price Movement Analysis for 2nd March, 2021

Aave travelled within a descending triangle, but at the time of publishing, its technical indicators did not support a breakout. Read more

Class-action lawsuit filed against MoneyGram for False allegation about XRP

After Ripple Laboratories, the payment giant MoneyGram is the next to be caught at the end of the legal entanglement, Read more

How Bitcoin shaping the success of Coinbase IPO

Coinbase began its journey by helping users to purchase Bitcoin. Fast-forward 8 years and consumers will be able to buy Read more

Leave a Reply

Your email address will not be published.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

Contact Us

%d bloggers like this: