Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Twitter co-founder Jack Dorsey criticizes the size of Tether’s gift to Bitcoin devs

Source Cryptopolitan

Twitter co-founder Jack Dorsey has criticized Tether’s decision to donate only $250,000 to Bitcoin developers. This week, the stablecoin giant announced a donation to OpenSats to support Bitcoin developers and Bitcoin-related projects.

The fund was donated to boost the charity’s operations, which is expected to include the provision of grants to projects that support Bitcoin. Speaking about the funding, Paolo Ardoino, CEO of Tether, said, “We at Tether believe that Bitcoin, and the free, open-source software that powers it, are indispensable to a freer and decentralized future.” However, it seems the donation did not go down well with Dorsey, who publicly criticized the size of the gift. “Why only $250K?” Dorsey said, replying to Ardoino.

Jack Dorsey criticizes Tether’s gift to Bitcoin Devs

According to reports, Tether is one of the most profitable companies in the crypto industry. The company, which issues stablecoin USDT, posted a $13 billion profit last year. In addition, it is also reportedly hoping to raise about $20 billion in a private placement that could push its value closer to $500 billion. Bloomberg reported the development, citing two unnamed sources who had close ties to happenings inside the company.

why only $250k?
— jack (@jack) October 16, 2025

In its donation to OpenSats, Tether claimed the funds will be used to support the nonprofit’s operations and grant-making efforts. Shortly after Dorsey commented, a user on X prodded him on his financial contributions towards the cause of protecting Bitcoin developers, asking him how much he donated. The entrepreneur shot back immediately, saying, “Over $21 million. You?”

According to reports, Jack Dorsey’s Start Small Initiative donated $21 million to OpenSats in 2024. The billionaire has been an outspoken advocate for decentralized technology and censorship resistance for years. Dorsey is also one of the most famous Bitcoin backers in the industry.

In an interview in 2020, Dorsey showered praises on Satoshi Nakamoto, the pseudonymous creator of Bitcoin, “I think it was smart not to do it anonymously, not to do it as a real identity, but to do it as a pseudonym,” said Dorsey at the time.

However, even Jack Dorsey’s philanthropy didn’t come without its critics. Udi Wertheimer, creator of the popular Bitcoin Ordinals project Taproots Wizard, also waded into the discussion, first taking Dorsey’s side before he turned on the Twitter co-founder. “No one should go into a pissing match with Jack when it comes to funding open-source Bitcoin development,” Wertheimer said, praising Dorsey for his positive gestures towards Bitcoin and projects related to the asset.

The Bitcoiner went ahead to criticize Jack Dorsey for his investments in Ocean, a Bitcoin mining pool that has been criticized previously for discouraging the processing of non-financial transactions on the Bitcoin blockchain, including the creation of NDT-like Ordinals. “You should subtract from that number whatever the size of your Ocean investment was,” Wertheimer said of Dorsey’s philanthropic gestures. “Sadly, that capital is being actively deployed to slow down development.”

However, it remains to be seen what Tether decides to do. An option is to increase its donation to the nonprofit, while the other is to explain why it decided to donate the amount it did. Lastly, the company can choose to refrain from making any comments about the donations. Meanwhile, Tether has continued to increase its BTC holdings. As previously reported by Cryptopolitan, the company recently bought 8,888 BTC, becoming the sixth-largest Bitcoin wallet, worth $9.75 billion.

Join Bybit now and claim a $50 bonus in minutes

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?Prioritize filling the $27,000 gap and even try higher.

Author FXStreet

Aug 22, 2023

Prioritize filling the $27,000 gap and even try higher.

Pinduoduo Earnings Incoming: Morgan Stanley Sees Long-Term Profit Potential Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.

Author Mitrade

Nov 20, 2024

Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.

XRP Price Prediction: Fibonacci And Elliott Wave Analysis Suggests $15 By May 2025 Egrag Crypto, a well-known crypto analyst on the social media platform X, recently shared an optimistic price prediction for XRP. According to the analyst, technical analysis of the XRP price on the

Author NewsBTC

Dec 30, 2024

Egrag Crypto, a well-known crypto analyst on the social media platform X, recently shared an optimistic price prediction for XRP. According to the analyst, technical analysis of the XRP price on the

Elon Musk’s xAI and Neuralink Launch New Funding Rounds Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.

Author Insights

Jun 03, 2025

Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.

Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

Nov 17, 2025

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Popular Symbols