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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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
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