wordpress blog stats
Connect with us

Hi, what are you looking for?

Jay Z, Jack Dorsey Set Up Bitcoin Fund For Africa and India

Hip-Hip mogul Sean Carter, or as he is better known Jay Z, and Twitter Inc CEO Jack Dorsey have set up an endowment fund for crypto-entrepreneurs in Africa and India, they announced on Friday. Together they have provided 500 BTCs, or a little over Rs 172 crore, which will be used to fund Bitcoin development in the two regions. [embed]https://twitter.com/jack/status/1360114881978982403[/embed] The duo are also looking for three board members to join the ₿trust, which aims to make "bitcoin the internet's currency" Dorsey and Jay Z are the latest in a long line of celebrities and entrepreneurs backing crypto-currency development and trading in recent weeks. In fact, Dorsey, who heads Twitter and fintech company Sqaure added "#bitcoin" to his Twitter description. This week Dorsey made a $1 million cash donation to Coin Center, a non-profit crypto-currency think tank, CNBC reported. According Bitrates, notable celebrities and entrepreneurs who have invested in crypto-currencies or crypto-firms include Richard Branson, Serena Williams, R&B star Akon, boxer Mike Tyson, actor Jamie Foxx and hip-hop moguls Kanye West and Snoop Dogg. Earlier this week, Tesla Inc. purchased around $1.5 billion worth of Bitcoins this week and will start accepting the crypto-currency as a payments instrument. With Tesla’s latest investment, listed corporates, private companies and exchange-traded funds now own over $60.7 billion worth of Bitcoins as of date, according to Bitcoin Treasuries. Fate of India's crypto-industry uncertain Meanwhile, two weeks ago, the Indian government announced that it would introduce The Cryptocurrency and Regulation of Official Digital Currency Bill,…

Please subscribe/login to read the full story.
Written By

Reports on banking, payments, fintech and crypto-curencies. Additional reporting on media regulations, data protection and other areas.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ