Founder of Twitter, Jack Dorsey, has appointed three Nigerians and one South African to be on the board of his Bitcoin Trust (BTrust) fund which will be disbursed for development in Africa and India.

 

Twitter founder, Jack Dorsey appoints three Nigerians to head Bitcoin Trust fund

Recall that Dorsey resigned as the Chief Executive Officer of Twitter in November 2021.

But in February, the tech boss had announced a BTrust in collaboration with American rapper, Jay Z.

BTrust is a fund with 500 BTC capital base worth N10,014,265,775.40 ($24,426,230), when pegged to late Monday’s market price of $48,815.35, and will be managed by four Africans, without oversight from Dorsey or Jay Z.

In a statement released on Wednesday via his official Twitter page, Dorsey revealed the identities of the BTrust board, three of whom are Nigerians; Abubakar Nur Khalil, Obi Nwosu, Ojoma Ochai, and South African, Carla Kirk-Cohen.

“They’ll now work towards defining the operating principles as they think about how to best distribute the 500 bitcoin towards development efforts,” the ex-Twitter chief said.

The individuals were selected from a pool of 7,000 applicants who applied to be on the board, which was initially meant to be occupied by three directors.

EBITU | #EbituBlog

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0
Ebitu
Blog | PR & COMMS | Youth Advocacy I Nation Building I Entrepreneur I

You may also like

Leave a Reply

More in:Business