Dorsey Challenges Tether’s Contribution
Jack Dorsey, the Twitter co-founder and prominent Bitcoin advocate, publicly questioned Tether’s recent $250,000 donation to OpenSats, a nonprofit supporting Bitcoin developers. The exchange happened on X platform shortly after Tether CEO Paolo Ardoino announced the contribution. Dorsey’s simple but pointed question—”Why only $250K?”—immediately drew attention to the size of the donation relative to Tether’s financial standing.
Tether, which reported $13 billion in profits last year and is reportedly seeking a $500 billion valuation, made the donation to support OpenSats’ operations and grant-making efforts. The stablecoin issuer didn’t respond to requests for comment about Dorsey’s criticism, and Ardoino didn’t publicly address the remark.
Dorsey’s Own Contributions
When another X user challenged Dorsey about his own financial commitment to Bitcoin development, the entrepreneur quickly responded that his Start Small initiative had donated over $21 million to OpenSats in 2024. This substantial contribution reflects Dorsey’s long-standing advocacy for decentralized technology and his position as one of Bitcoin’s most visible supporters.
Dorsey’s track record in funding Bitcoin development is significant, but the conversation took an unexpected turn when Udi Wertheimer, creator of the Bitcoin Ordinals project Taproots Wizards, initially supported Dorsey’s position before turning critical.
The Complex Funding Landscape
Wertheimer acknowledged that “no one should go into a pissing match with Jack when it comes to funding open-source Bitcoin development,” but then criticized Dorsey for his investments in Ocean, a Bitcoin mining pool. Ocean had previously faced criticism for discouraging the processing of non-financial transactions on the Bitcoin blockchain, including Ordinals creation.
Wertheimer suggested that Dorsey’s Ocean investment should be subtracted from his philanthropic contributions, arguing that “that capital is being actively deployed to slow down development.” This highlights the complex and sometimes contradictory nature of funding in the Bitcoin ecosystem, where different parties may support competing visions for the network’s future.
Broader Implications
The exchange reveals ongoing tensions about funding priorities and philosophical differences within the Bitcoin community. While corporate donations like Tether’s provide crucial support for development, they also invite scrutiny about whether contributions match the financial capabilities of the donors. Meanwhile, individual backers like Dorsey face their own challenges in navigating the ecosystem’s competing interests.
This public discussion about funding amounts and sources underscores the ongoing debate about how Bitcoin development should be supported and who bears responsibility for maintaining the network’s infrastructure. The conversation also shows that in the world of cryptocurrency funding, even the most generous contributors can face criticism about how their money is allocated across different projects and initiatives.
