Dorsey names board members of his bitcoin endowment with Jay-Z
December 15, 2021, 6:10PM EST
1 min read
Twitter co-founder and Block CEO Jack Dorsey announced the board members of his bitcoin development endowment in collaboration with Jay-Z today.
The two previously announced their intention to give 500 BTC to set up ₿trust, an endowment to fund bitcoin development with a starting focus on teams based in Africa and India. When he unveiled the plan for a blind trust in February, Dorsey said he needed three board members.
"They'll now work towards defining the operating principles as they think about how to best distribute the 500 bitcoin towards development efforts," said Dorsey's tweet.
Dorsey has been a long-time supporter of Bitcoin, adding the cryptocurrency to the balance sheet of his payments firm, Block. The firm rebranded from Square earlier this month to signal a broader push into crypto. Block additionally has an ongoing grant program to fund the development of bitcoin technology.
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