Twitter co-founder Jack Dorsey introduced on Monday that he’s resigning his place on the firm, sparking rumors of shifting right into a devoted crypto function.
In a resignation letter posted on the social media platform, Dorsey spoke concerning the limitations of founder-led firms, saying he believes such setups are severely limiting and dangerous, within the sense, they’re a single level of failure.
He additionally talked about key personnel in Parag Agrawal and Bret Taylor, which he stated he’s assured can lead Twitter in the best path for future progress and success, making his resignation all of the extra tenable.
“I would like you to all know that this was my determination and I personal it. It was a troublesome one for me, after all. I really like this service and firm…and all of you so very a lot. I’m actually unhappy…but actually completely satisfied.
…I do know we’ll show this was the best transfer.”
With that in thoughts, what’s subsequent for Dorsey?
Dorsey’s pro-crypto outlook
Talking on the Bitcoin Convention in Miami in June, Dorsey stated he’d be engaged on Bitcoin if it wasn’t for Sq. or Twitter. Though, he additionally stated each firms have “a job to play,” so far as crypto adoption is worried.
“If I weren’t at Sq. or Twitter I’d be engaged on bitcoin.”
And below Dorsey’s management, each firms are referred to as pro-crypto. For instance, September noticed Twitter introduce its “Tips” characteristic enabling customers to tip content material creators in crypto.
Additionally, Sq.’s Money App was among the many first cost apps to incorporate Bitcoin over 4 years in the past. Earlier this yr, the agency stated 5% of its whole money was within the main cryptocurrency.
Hypothesis mounts on what Dorsey will do subsequent
Though Dorsey’s resignation letter didn’t point out crypto in any respect, the highest replies to the tweet got here from outstanding crypto figures. Together with Binance’s Changpeng Zhao, who posed the potential for Dorsey shifting on to work full-time in crypto.
“Effectively finished @jack. Welcome to full time crypto?”
Whereas Dogecoin co-founder Billy Markus drew parallels with Dorsey’s touch upon the constraints of founder-led firms, saying Dogecoin solely took off after he had left.
“dogecoin solely actually succeeded when i ended growing on it
you constructed one thing fairly large – it has modified fairly a couple of lives, mine included – with out twitter there wouldn’t be dogecoin
a lot respect in your work and your determination”
Whereas Bitcoin-bull Anthony Pompliano gave a extra subdued, much less main response by saying he’s excited to see what Dorsey does subsequent.
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