Twitter co-founder and Bitcoin enthusiast Jack Dorsey recently made remarks about the most recent FTX debacle. Also, the former Twitter SEO issued a warning for the entire cryptocurrency community.
When asked by a fan if he had any relationship with FTX’s former CEO, Sam Bankman-Fried, Dorsey uploaded a screenshot in which SBF was inviting him to talk.
The former Twitter SEO ignored his messages. Some might not believe he ignored the disgraced billionaire…. So today, he gave followers a screenshot also details that Dorsey did not even keep SBF’s number in his contact list.
Just minutes after this interaction, Dorsey retweeted a post about how no one in cryptocurrency is deserving of trust.
The post included Bankman-Fried, Ethereum co-founder Vitalik Buterin, and Binance CEO Changpeng Zhao.
Dorsey is a self-described “Bitcoin Maximalist” and while some might not understand such language, it means that he only believes Bitcoin to be the only true decentralized digital currency in the world.
“Maximalists” like Dorsey and Jimmy Song believe that given that other cryptocurrencies have their management centralized in a public figure, these currencies simply cannot ever be as decentralized as Bitcoin is.
An easy comparison is to highlight how the FTT plummeted from Sam Bankman-Fried’s actions.
In counterpart to that, nobody truly owns the Bitcoin network. Users are in charge of running the asset, and it to all Bitcoin users worldwide, simultaneously.
Despite the fact that developers work in the software, they are unable to impose a change in the Bitcoin protocol. All users are free to use whichever software and version they like.
Jack Dorsey Funding The “Bitcoin Academy”
In June of 2022, the tech magnate Dorsey and music mogul Jay-Z announced the foundation of “Bitcoin Academy”.
The project aims to financially educate residents of the “Marcy Houses”, a public housing complex situated in Brooklyn, New York.
Jay Z grew up in the housing complex. Now the rapper is looking to give back to the community by offering free economic education on Bitcoin and other financial subjects.
“Education is where we start.” Dorsey wrote on Twitter. “This isn’t just about bitcoin…it’s about long-term thinking, local economies, and self-confidence.
Courses are free to all Marcy residents, including kids. And to make it even easier we’re providing devices and data plans for all who need it.”
This project turned out to big a testament to the embodied rap motto of Jay-Z, “I Will Not Lose.” And this is because even when the FTX market crashed, the school’s gift to graduates of $1000 in Bitcoin, only like $19 (view report).
This loss was so small due to Dorsey, Jay-Z, and their team analyzing the market and choosing to buy at the proper price. And the Bitcoin Academy did not store funds on FTX. Their student’s meager loss is a prime example of why people need education on cryptocurrency.
Business well done, the methods of Bitcoin Academy’s leaders is not the road millions of crypto-investors followed, when losing to FTX. And for this, Dorsey warns crypt-investors.