THELOGICALINDIAN - Dorsey oversaw several moves to embrace Bitcoin and crypto technology at ample during his administration at the captain of Twitter
“This was my decision,” Dorsey said in a agenda to his co-workers.
Jack Dorsey Steps Down as Twitter CEO
Jack Dorsey is abrogation Twitter.
The Big Tech administrator tweeted out an email announcement his abandonment to the aggregation Monday. The bulletin read:
“After about 16 years of accepting a role at our company… from co-founder to CEO to Chair to Exec Chair to interim-CEO to CEO… I absitively it’s assuredly time for me to leave… I appetite you all to apperceive that this was my accommodation and I own it.”
The email appear that Twitter’s CTO, Parag Agrawal, would footfall in as CEO basic today. Bret Taylor, meanwhile, will booty on the role of Lath Chair. Dorsey said that he would briefly abide on the lath to advice the brace with the transition, but would again leave the aggregation altogether. Dorsey explained his accommodation by advertence that he believes that it’s important for companies to advance after their founding team, as founders can act as “a distinct point of failure.”
Besides Twitter, Dorsey is accepted for his able acceptance in Bitcoin, which he imagines as the “Internet’s built-in currency.” His added company, Square, has invested in the asset and supports Bitcoin payments via Cash App. Twitter additionally took several big accomplish to abutment the technology beneath Dorsey’s leadership, from adding Bitcoin tipping on the Lightning Network to minting its own NFTs (Dorsey additionally sold his aboriginal tweet on the armpit as an NFT, admitting his apparent abridgement of interest in Ethereum). Earlier this month, it was appear that Twitter had assassin Tess Rinearson, a above Cosmos contributor, in a bid to alpha amalgam Web3 applications.
More recently, Dorsey has been alive on a Bitcoin-focused activity alleged tbDEX. Built through Square, the activity is able to accompany a decentralized exchange, contrarily accepted as a DEX, to Bitcoin. Square published the whitepaper for tbDEX beforehand this month, admitting it’s cryptic if the affairs for the belvedere had annihilation to do with Dorsey’s accommodation to footfall abroad from Twitter.
The bazaar reacted abominably to the account of Dorsey’s departure, with TWTR trading at $46.58 at columnist time. It’s bottomward 0.96% today.
Disclosure: At the time of writing, the columnist of this affection endemic ETH, ATOM, and several added cryptocurrencies.
