Jack Dorsey's $10M Donation To Decentralized Twitter Alternative Ends Up Funding Brazilian Fascist
Portfolio Pulse from Benzinga Neuro
Jack Dorsey's $10 million donation to the decentralized social-media protocol Nostr has inadvertently funded a developer with ties to a Brazilian fascist. The developer, Giovanni Torres Parra, has created webpages supporting far-right conspiracy theorist Olavo de Carvalho. Despite the controversy, Dorsey remains a vocal advocate for Nostr.
June 07, 2024 | 6:48 am
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NEUTRAL IMPACT
Bitcoin (BTCUSD) is indirectly mentioned as part of Jack Dorsey's $10M donation to Nostr, which included 14 Bitcoins worth approximately $245,000.
While Bitcoin is mentioned as part of the donation, the controversy is unlikely to have a significant direct impact on its price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Jack Dorsey's company, Block Inc. (NYSE:SQ), is indirectly affected by the controversy surrounding his $10M donation to Nostr, which funded a developer with ties to a Brazilian fascist.
The controversy surrounding Jack Dorsey's donation to Nostr could negatively impact investor sentiment towards Block Inc., given Dorsey's association with the company.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80