Twitter CEO Jack Dorsey makes $1 million gift to Coin Center

Startups • February 10, 2021, 11:38AM EST
The Block

Twitter founder and CEO Jack Dorsey made a $1 million donation to crypto policy think tank Coin Center, the group's executive director Jerry Brito announced in a tweet on Wednesday.

Dorsey's gift comes during Coin Center's matching campaign. Grayscale Investments made a $1 million donation to the think tank late last month. On top of the direct donation, Grayscale said it would match up to an additional $1 million of donations. Brito said Coin Center had nearly reached the goal when Dorsey's donation came in, putting them "over the top and then some."

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Dorsey has long held an interest in bitcoin, both through his payments firm Square and on a personal basis. In past years, Dorsey has spoken about bitcoin as a potential currency for the native Internet.

The latest donation to Coin Center comes as a new administration takes hold in Washington, D.C. With the new administration comes fresh faces at agencies and departments that have the crypto space in their remit, including the Treasury Department under Janet Yellen, who was sworn into office late last month.

Coin Center recently led the public charge against the outgoing Trump administration's proposed wallet regulations, which the now-former Treasury Secretary Steve Mnuchin sought to advance with a truncated comment period. The proposal now carries the traditional 60-day comment period after a multitude of comments were submitted in opposition to the initial process.

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.