Skip to content
Search

Latest Stories

Bitcoin gets £17.2m backing from Twitter's Dorsey and Jay-Z

Bitcoin gets £17.2m backing from Twitter's Dorsey and Jay-Z

TWITTER CEO Jack Dorsey and rapper turned business mogul Jay Z have paired up to invest £17.2 million ($23.6m)  into a trust designed to fund Bitcoin development around the world.

Dorsey, who is also founder and chief of financial services and mobile payments firm Square, said in a tweet that he and Jay-Z are giving 500 bitcoin to fund an independent endowment called "Btrust."


That amount of the cryptocurrency was worth about $24 million on Friday(12).

Initially the trust would focus on Africa and India and it would operate without their oversight. Btrust's mission was to "make bitcoin the internet's currency", according to an application form for prospective board members, reported The Telegraph.

"It will be set up as a blind irrevocable trust, taking zero direction from us," Dorsey said, adding that the fund would initially focus on bitcoin development teams in Africa and India.

He said three board members were being sought, adding a link to an online application that stated the mission is to "make bitcoin the internet's currency."

Launched in 2009, bitcoin has been on a meteoric rise since March, when it stood at $5,000, spurred by online payments giant PayPal saying it would allow account holders to use cryptocurrency.

Tesla this week announced a $1.5 billion investment in the digital money and plans to accept the cryptocurrency from customers buying its electric vehicles.

The announcement came on the heels of a cheeky social media embrace of bitcoin by Tesla CEO Elon Musk, who temporarily changed his Twitter bio to simply read "#bitcoin."

On Friday, Canada's main securities regulator cleared the launch of the world's first exchange-traded bitcoin fund, giving retail investors greater access to the booming cryptocurrency.

Skeptics say bitcoin is highly volatile and regulators warn it is vulnerable to illicit use.

Bitcoin on Friday touched a new high of $48,930 after MasterCard and US bank BNY Mellon moved to make it easier for people to use the cryptocurrency.

More For You

Heidi Klum

Heidi and Leni Klum pose together in co-ordinated Intimissimi gowns at the Venice Film Festival

Instagram/heidiklum

Heidi Klum Venice Film Festival look with daughter Leni reignites criticism over mother-daughter lingerie fashion partnership

Highlights:

  • Heidi Klum and daughter Leni walked the Venice Film Festival red carpet in matching corset-style gowns.
  • The supermodel opted for a blush pink silk design, while Leni wore an inky black version.
  • Both gowns were created by Italian lingerie brand Intimissimi, for which they are ambassadors.
  • The mother-daughter duo previously fronted a controversial campaign for the same brand.

Heidi Klum's Venice Film Festival appearances always generate headlines, but this year she doubled the impact by walking the red carpet with her daughter Leni. The pair stunned in co-ordinated gowns from Italian intimates brand Intimissimi, bringing high fashion and red carpet glamour together in one of the festival’s most talked-about moments. Their matching corset silhouettes highlighted the duo’s modelling credentials and added a striking family twist to the opening night of the prestigious event.

Heidi Klum Heidi and Leni Klum pose together in co-ordinated Intimissimi gowns at the Venice Film Festival Instagram/heidiklum

Keep ReadingShow less
Ahaan Panday

Ahaan Panday says years of blind optimism kept him going before Saiyaara

Instagram/ahaanpandayy

Ahaan Panday says Bollywood wronged him and admits he was delusional before 'Saiyaara' broke box office records

Highlights:

  • Ahaan Panday opens up on being ‘wronged’ before his Bollywood debut
  • Actor admits he spent years in ‘blind optimism’ waiting for launch
  • Saiyaara has become the highest-grossing love story in Indian cinema history
  • The Mohit Suri directorial collected £53 million (₹563 crore) worldwide

Bollywood newcomer Ahaan Panday has revealed that he felt “wronged” by people in the industry before finally making his long-awaited debut with Mohit Suri’s Saiyaara. The 27-year-old actor, who comes from the well-known Panday family, said he lived in “blind optimism” for four to five years as projects kept falling through. Despite setbacks, Ahaan maintained that he never became bitter and channelled his struggles into his performance.

Ahaan Panday says years of blind optimism kept him going before Saiyaara Instagram/ahaanpandayy

Keep ReadingShow less
Jio Platforms

Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. (Photo: Reuters)

Reuters

Jio IPO planned for mid-2026, AI unit announced with Meta and Google

RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.

At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.

Keep ReadingShow less
Sony next console

The top model could match the PS5 Pro at around £699.99

Nintendo

Sony’s next console could be both handheld and dockable, claim rumours

Highlights:

  • Reports suggest Sony is planning three versions of its next console
  • One model, codenamed Canis, could function as both a handheld and a docked console, similar to Nintendo Switch
  • The flagship version, Orion, is expected to be the main high-spec console
  • Pricing speculation indicates the top model could match the PS5 Pro at around £699.99

Fresh rumours claim Sony is preparing a dockable handheld version of its next-generation console, the PlayStation 6. The device, reportedly codenamed Canis, is said to target the same hybrid market as Nintendo’s Switch and the expected Switch 2.

Details of the rumour

The information comes from YouTube channel Moore’s Law is Dead (via Push Square), which suggests Sony will release three versions of the PS6:

Keep ReadingShow less
Mounjaro price rise

Eli Lilly has agreed a discounted supply deal for its weight-loss drug Mounjaro

iStock

Mounjaro’s highest dose to rise from £122 to £247.50, not £330

Highlights:

  • Eli Lilly had announced a steep price rise of up to 170% for Mounjaro.
  • A new discount deal with UK suppliers will limit the increase for patients.
  • Pharmacies will still apply a mark-up, but consumer costs are expected to rise less than initially feared.
  • NHS pricing remains unaffected due to separate arrangements.

Eli Lilly has agreed a discounted supply deal for its weight-loss drug Mounjaro, easing fears of a sharp rise in costs for UK patients. The new arrangement means that, from September, pharmacies and private services will face smaller wholesale increases than first expected, limiting the impact on consumers.

Why the price rise was announced

Earlier this month, Eli Lilly said it would raise Mounjaro’s list price by as much as 170%, which could have pushed the highest monthly dose from £122 to £330. The company argued that UK pricing needed to align more closely with higher costs in Europe and the United States.

Keep ReadingShow less