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Jack Dorsey reacts to Tether's 'only $250K' donation to Bitcoin devs
Block Inc. CEO and Twitter co-founder Jack Dorsey reacted to stablecoin issuer Tether’s recent donation to OpenSats, a nonprofit supporting Bitcoin and free, open-source software development.
The donation of $250,000 is aimed at funding OpenSats’ operational needs and grant programs, ensuring ongoing financial backing for diverse free and open-source initiatives, which include protocol development, privacy-focused tools, research, and educational projects.
On Oct. 16, Dorsey reacted to the announcement on X, “Why only $250k?”
What is OpenSats?
OpenSats Initiative, Inc. is a 501(c)(3) public charity dedicated to funding Bitcoin-related free and open-source software (FOSS) projects, research, and educational initiatives that strengthen the broader open-source ecosystem. The organization seeks to create a sustainable funding model for developers and contributors building tools that support Bitcoin and digital freedom.
Through its platform, donors can choose to direct their contributions toward specific project areas or the foundation’s general fund, helping ensure that independent developers and researchers working on open, censorship-resistant technologies receive consistent, long-term support.
Dorsey's Bitcoin donations
Dorsey is well known for his contributions to the development of the Bitcoin ecosystem. In May 2024, he donated $21 million to OpenSats, in addition to a previous $1 million donation, through his philanthropic initiative, StartSmall. The donation was aimed at supporting free and open-source projects advancing Bitcoin and related technologies.
In June 2023, Dorsey pledged $5 million to Brink, an organization funding open-source Bitcoin developers. The donation will be distributed over five years, at a rate of $1 million per year.
Recently, Dorsey’s foundation also granted $1 million to My First Bitcoin, a nonprofit focused on grassroots Bitcoin education, to help expand open-source Bitcoin learning tools and infrastructure worldwide.
This article has been published in thestreet.com via Yahoo News.
