Home BusinessFinance Jack Dorsey donates $1 million to crypto think tank Coin Center

Jack Dorsey donates $1 million to crypto think tank Coin Center

Jack Dorsey donates $1 million to crypto think tank Coin Center

Jack Dorsey, chief executive officer of Twitter Inc. and Square Inc., speaks during an Empowering Entrepreneurs events at Ryerson University in Toronto, Ontario, Canada, on Tuesday, April 2, 2019.

Cole Burston | Bloomberg | Getty Images

Twitter CEO Jack Dorsey made a $1 million donation to non-profit cryptocurrency think tank Coin Center, the organization said Wednesday.

The donation, which was made in cash, will bolster Coin Center’s research and lobbying efforts in Washington, D.C. It comes after a similar move from digital asset manager Grayscale Investments, which donated $1 million to the group last month.

“I’m thrilled to announce that Coin Center has received donations to claim the amazing $1 million match from @Grayscale in full,” Jerry Brito, executive director of Coin Center, tweeted Wednesday. “We’ve been stunned by the outpouring of support from the community.”

“Coin Center has received and incredibly generous gift of $1 million from @jack — we’re speechless,” Brito added. “We were almost to our goal for the matching campaign when he put us over the top and then some. Your confidence in our work is incredibly humbling.”

Based in Washington, D.C., Coin Center is a non-profit research and advocacy group that aims to address public policy issues facing cryptocurrencies likes bitcoin. Its supporters include the Silicon Valley venture capital firm Andreessen Horowitz and cryptocurrency exchange Coinbase.

Dorsey is no stranger to promoting bitcoin, having once claimed he believes it will become the “single currency” of the internet. Square, Dorsey’s fintech company where he also serves as CEO, made a $50 million investment in bitcoin last year. Square’s Cash App lets users buy and sell bitcoin.

This article is auto-generated by Algorithm Source: www.cnbc.com

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