Twitter’s Pro-Bitcoin CEO Jack Dorsey Steps Down, New CEO Announced

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Twitter’s Pro-Bitcoin CEO Jack Dorsey Steps Down, New CEO Announced
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Jack Dorsey. Source: a video clip screenshot, Youtube/Ted

Twitter founder as well as CEO Jack Dorsey validated he’s tipping down from his duty as president of the social networks system. 

“I want you all to know that this was my decision and I own it,” Dorsey stated in an open letter to Twitter staff members.

He included that he sees business that are “founder-led” as having “a single point of failure,” as well as stated he has “worked hard to ensure this company can break away from its founding and founders.”

He additionally validated that their Chief Technology Officer Parag Agrawal comes to be Twitter’s CEO beginning today, while Bret Taylor becomes their board chair.

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Dorsey’s resignation as CEO was reported on by CNBC prior to it was formally announced, while Reuters as well as Bloomberg additionally shared information on the tale, all mentioning unrevealed resources “familiar with the matter.”

Twitter’s supply has actually been stopped by the New York Stock Exchange because of a pending information statement from the firm. Before trading was stopped, Twitter’s supply was up 3.42% for the day.

In enhancement to his duty at Twitter, Jack Dorsey additionally acts as the CEO of settlements firm Square, which has actually taken an energetic duty beforehand the fostering of bitcoin (BTC).

Jack Dorsey is popular as a supporter of bitcoin, usually calling it “the native currency of the Internet.”

The technology business owner stated throughout the Bitcoin 2021 seminar in Miami this past June that if he wasn’t operating at Square or Twitter, he would certainly be dealing with Bitcoin, while including “If it needed more help than Square and Twitter, I would leave them for bitcoin.”

Meanwhile, Twitter’s new CEO, Parag Agrawal, is not yet referred to as a bitcoin advocate, however has in the previous revealed rate of interest in the decentralization of social networks networks. 

In 2019, he was charged by the firm with locating a lead for a Twitter-moneyed effort referred to as Bluesky, which Jack Dorsey stated would certainly “develop an open and decentralized standard for social media.” 

Agrawal signed up with Twitter in 2011 as a designer, as well as has actually worked as the firm’s CTO because 2017. 

Meanwhile, Bret Taylor, Twitter’s new board chair, is the present head of state as well as Chief Operating Officer (COO) of the significant company software application company Salesforce. 

In his letter that announced the resignation, Dorsey stated concerning Taylor that he is a person that “understands entrepreneurship, taking risks, companies at massive scale, technology, product, and he’s an engineer.” 

Taylor discussed cryptocurrencies in 2019 throughout an occasion held by the Global Blockchain Business Council, where he stated that “the past decade has been very interesting for blockchain technologies and cryptocurrencies.” 

“Blockchain is an ideal technology to bring customer value that spans multiple companies and multiple organizations,” Taylor stated at the time.

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Learn a lot more: – Twitter Launches Twitter Crypto: Here’s How the Company Got There- Twitter Offers Sneak Peek Behind Upcoming NFT Integration Design

– Tweet as well as Get Bitcoin – Twitter Enables BTC Tips Over Lightning Network- Trump vs. Twitter Fight Reignites Social Media Decentralization Vision

– Ethereum Founder Skeptical of Dorsey, Zuckerberg’s Plans- Dorsey Justifies His Pro-Bitcoin Stance, Says He Is ‘Not Trolling’ Ethereum

– Why Jack Dorsey’s Square Paid USD 29B for Afterpay- Twitter’s Bluesky Finds New Lead, Square Building the Bitcoin Wallet Team

– Here’s What Everyone Missed in The Dorsey, Musk, as well as Wood Bitcoin Talk- Jay-Z & Jack Dorsey Give BTC 500 for Bitcoin Development, New India Ban Rumors Emerge

___(Updated at 15:48 with a record from Bloomberg TELEVISION. Updated at 15:55 UTC with a remark from Jack Dorsey. Updated at 16:39 UTC with even more information concerning the new CEO as well as the chairman of the board. (Updated at 17:09 UTC with extra information from Dorsey’s letter.)



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