• About Us
  • Privacy Policy
  • Contact Us
  • Advertise With Us
  • Home
Metrowatchonline
Sunday, June 1, 2025
  • Home
  • News
  • Security
  • World
No Result
View All Result
  • Home
  • News
  • Security
  • World
No Result
View All Result
Metrowatchonline
No Result
View All Result
Home Highlights

Twitter Co-founder Jack Dorsey Appoints 3 Nigerians to Lead Bitcoin Trust Fund

ayothisday by ayothisday
December 16, 2021
in Highlights, Top News, World
0

Twitter co-founder Jack Dorsey has appointed three Nigerians to the board of the Bitcoin (BTrust) trust fund.

Dorsey, who resigned as Twitter CEO in late November, formed the Bitcoin trust fund in partnership with American hip-hop star Jay Z.

“I’m so grateful for you all and so inspired,” Dorsey tweeted on Wednesday while announcing the leaders of the Bitcoin trust fund.

The Nigerians appointed into the Bitcoin trust fund are Abubakar Nur Khalil, Obi Nwosu, Ojoma Ochai, and South African, Carla Kirk-Cohen. All four have worked to promote bitcoin development efforts across Africa. Dorsey said a team selected the four developers from a pool of 7,000 applicants.

ALSO READ...

Moody’s Upgrade of Nigeria’s Credit Rating, Positive Sign to Investors, Tinubu Says

PSG Thrash Inter Milan 5-0 to Win First Champions League Title

“They’ll now work towards defining the operating principles as they think about how to best distribute the 500 bitcoin towards development efforts,” Dorsey tweeted.

Dorsey and Jay Z had previously announced their intention to give 500 BTC to set up ₿trust, an endowment to fund bitcoin development with a starting focus on teams based in Africa and India.

The former Twitter CEO has been a long-time supporter of Bitcoin and added the cryptocurrency to the payment platforms of his payments firm, Block. He had consistently hinted about spearheading a global push for cryptocurrency acceptance amid stiff opposition by countries, including Nigeria where three of his BTrust leaders are from.

Dorsey in June 2021 said “the people of Nigeria will lead bitcoin” despite the Nigerian authorities clamping down on the trading of cryptocurrencies with a ban in place by the Central Bank of Nigeria (CBN).

The Nigerian government’s stance against cryptocurrency trading extends to fintech companies and traditional banks serving as a gateway for trading and exchange of funds.

CBN in February 2021 ordered banks to identify and close down all accounts involved in the transfer or exchange of cryptocurrencies and reminded “regulated financial institutions that dealing with cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited.”

Despite the ban, many young Nigerians are circumventing the ban to continue buying and selling cryptocurrencies as the country’s currency, the naira, continues to slide against the dollar.

Nigeria ranks as the third country with the highest volume of cryptocurrency trading – over 400 million – only behind the United States and Russia, according to Statista, a global market data tracker.

(The Guardian)

Tags: Bitcoin Trust FundNigeriansTwitter
Previous Post

South Africa: Court Terminates ex-President Zuma’s Medical Parole, Orders Him Back to Prison

Next Post

OBITUARY | South African Apartheid Fighter, Desmond Tutu, Dies at 90

ayothisday

ayothisday

Related Posts

Skales

Nigerians Now Run to VDM for Help Instead of Government, Says Skales

December 11, 2024
FG to Impose Tax on Foreigners, Proposes NIN for those Resident in Nigeria

Our Mistakes Should Not Follow us into the Future Says Tinubu to Nigerians

October 1, 2024
OPINION | The Year of Renewed Hope, By Fredrick Nwabufo | METROWATCH

OPINION | The Year of Renewed Hope, By Fredrick Nwabufo | METROWATCH

December 18, 2023
OPINION | There will be No Christmas Rice in Nigeria,  By Prince Charles Dickson PhD | METROWATCH

OPINION | There will be No Christmas Rice in Nigeria, By Prince Charles Dickson PhD | METROWATCH

November 6, 2023
Oluremi Tinubu

Prioritise Your Mental Health, Oluremi Tinubu Urges Nigerians | METROWATCH

October 11, 2023
OPINION | ‘And Uphold Her Honour and Glory’, By  Monday Philips Ekpe  | METROWATCH

OPINION | ‘And Uphold Her Honour and Glory’, By Monday Philips Ekpe  | METROWATCH

October 8, 2023
Next Post

OBITUARY | South African Apartheid Fighter, Desmond Tutu, Dies at 90

  • About Us
  • Privacy Policy
  • Contact Us
  • Advertise With Us
  • Home

© 2024 Metrowatch Online Published by Miraculous Media Connect Limited. All rights reserved

No Result
View All Result
  • Home
  • News
  • Security
  • World

© 2024 Metrowatch Online Published by Miraculous Media Connect Limited. All rights reserved

Go to mobile version