The newly created ‘Bitcoin Endowment’ fund is part of an initiative by Square to invest a total of $100 million for the promotion of diverse inclusions and easy accessibility among the minority communities.
The first recipient of the proceeds, Black Bitcoin Billionaire, is a group that claims to bring more black people into the crypto space and provide wealth sensitizations to them.
As illustrated in their memo, Square is not new to these efforts. The company is a dedicated forefront to economic empowerment.
In 2019, they made their first deposits to Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) in communities all around the country. The $100 million donations announced in September is a continuation of their commitment to increasing easier and quicker access to financial services.
Source:
https://mycryptoparadise.com/square-launches-5m-to-bitcoin-endowment-fund-to-promote-crypto-inclusion/