Jack Dorsey criticizes Tether's donation to support Bitcoin
Date: 2025-10-20 Author: Henry Casey Categories: BUSINESS
Tether recently contributed to the OpenSats charity, which aims to provide grants to Bitcoin startups. Tether CEO Paolo Ardoino emphasized the importance of Bitcoin and open-source software in building a free and decentralized future. However, the donation amount angered Jack Dorsey, a well-known advocate for cryptocurrency and decentralization, who considered the company's contribution too modest.
Tether remains one of the largest players in the crypto industry. According to Bloomberg, its revenue reached $13 billion last year. The company also plans to raise approximately $20 billion through a private placement, which could potentially increase its market capitalization to $500 billion. Against this backdrop, Dorsey believed that Tether could have devoted significantly more resources to developing the Bitcoin ecosystem. In 2024, Dorsey himself donated over $21 million to OpenSats, demonstrating his commitment to decentralization and support for the cryptocurrency community.
Shortly after Dorsey's criticism, he himself was the target of comments from crypto enthusiasts. Udi Wertheimer, creator of the Taproots Wizard project dedicated to Bitcoin Ordinals, intervened in the discussion. He recalled Dorsey's investments in the Ocean mining pool, which had been criticized for slowing the processing of non-financial transactions, including the creation of Ordinals protocols similar to NFTs. Wertheimer proposed deducting these investments from Dorsey's donation, citing their indirect impact on the development of the Bitcoin ecosystem.
Furthermore, in early October, Block introduced a new crypto wallet, Square Bitcoin. Designed for small businesses, it allows users to accept Bitcoin payments and convert a portion of their proceeds into cryptocurrency. This move demonstrates the continued adoption of Bitcoin in commercial transactions and support for decentralized financial solutions.
Thus, the Tether donation situation demonstrated both the diversity of opinions within the crypto community and the continued active support of Bitcoin enthusiasts, including Dorsey. Discussions about the size and appropriateness of the donations highlight the tension between the commercial interests of large companies and the active stance of independent investors and developers. At the same time, new products like Square Bitcoin demonstrate real steps toward integrating cryptocurrencies into everyday economic life.
