• Jack Dorsey, CEO of Block and former head of Twitter, has donated $10 million to Open Sats, a non-profit bitcoin-focused social media network.
• Open Sats supports and maintains a sustainable ecosystem of funding for free and open-source projects related to Bitcoin and its flourishing.
• Recently, Dorsey created a defense fund for several developers who had previously worked for Australian computer scientist Craig Wright after they were named as defendants in a lawsuit.
Jack Dorsey Donates $10 Million to Bitcoin Non-Profit
Former Twitter head and current chief executive of Block Jack Dorsey has pledged a $10 million donation to a non-profit called Open Sats. The money is slated to be fully, 100 percent put towards a bitcoin-focused social media network.
Open Sats‘ Mission
Open Sats is based in the city of Raleigh, North Carolina. The company received its non-profit status back in the year 2021 per data site Charity Navigator. Interestingly, the company started out with less than $200K to its name, though this sudden donation from Dorsey is likely to make a huge change for both the company and whatever projects it has on its roster. In a recent statement, the company made it clear that bitcoin – and assets like it – are aligned with its primary values: „We believe that free software and open protocols are necessary for a free and prosperous society.“ Their goal is „to support and maintain a sustainable ecosystem of funding for free and open-source projects and contributors,“ particularly those related to Bitcoin or helping it flourish.
Dorsey’s Crypto Advocacy
Dorsey has long been an advocate of cryptocurrency; five years ago he predicted that bitcoin would soon become the sole currency of the world replacing all other fiat currencies like the euro or U.S dollar. Prior to COVID he even planned on touring Africa to spread awareness about blockchain technology in order for people there financially benefit from it as well as otherwise gain advantages from using digital infrastructure that was more open than before.
Defense Fund For Developers
Recently, Dorsey came forward again with his advocacy by creating an defense fund for several developers who had previously worked under Australian computer scientist Craig Wright who were being sued by him after they left his team.
Jack Dorsey has shown time after time that he stands behind his mission of advocating cryptocurrency usage around the world by donating large amounts of money or creating funds for those affected negatively due to their involvement with cryptocurrencies such as Bitcoin. He continues in showing his confidence in how much potential these digital assets have which can change how people use finance throughout our society today.