Digital currencyEconomical

Jack Dorsey resigns from Twitter; A fresh start for bitcoin development?


Jack Dorsey resigned as Twitter CEO yesterday. He has previously tried to get involved in bitcoin development activities, and recently announced that he would soon launch a decentralized bitcoin-based exchange.

to the Report Kevin Desk, Parag Agrawal, Twitter’s chief technology officer, replaced Jack Dorsey as Twitter CEO after his resignation was confirmed. Dorsey will remain a member of Twitter’s board until the end of his term in mid-2022.

Twitter announced on Monday that Agrawal had been unanimously selected by Dorsey as a replacement for Dorsey. Agrawal has been on Twitter for more than a decade. Bret Taylor has also been elected as the Independent Chairman of Twitter.

Jack Dorsey shared the text of an internal email he sent to the Twitter team confirming his resignation, in which he described the importance of “separating Twitter from its starting point and its founders.”

Dorsey has not yet spoken about his next plans, however he announced in August that he had plans to set up a decentralized bitcoin-based exchange to be done by Square Payment Company. Square recently released White Paper with more details about this decentralized exchange.

The founder of Twitter is one of the well-known fans of Bitcoin and has tried many times to participate in activities related to Bitcoin development through Twitter and Square.

Shares of Twitter rose 11 percent early yesterday after Jack Dorsey was reported to have resigned as CEO before the end of the New York Mercantile Exchange. However, with the resumption of transactions, the value of Twitter shares fell by 0.5%.

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