Square Endows Black Bitcoin Billionaire

Correction: When first published, this story inaccurately indicated that Black Bitcoin Billionaire would receive all $5 million of the Bitcoin Endowment. It appears the organization is actually receiving an undisclosed proportion of the endowment.

Financial services company Square has allocated $5 million in BTC to its Bitcoin Endowment program and has selected educational program Black Bitcoin Billionaire as the first-ever recipient for a grant from the program.

The allocation comes as part of a larger commitment to invest $100 million in minority and underserved communities, originally made in September 2020. Square announced the allocation of $25 million of this total investment yesterday and released a memo outlining more details.