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Jack Dorsey resigns as Twitter CEO… Will he devote himself to the crypto market?

Jack Dorsey resigns as Twitter CEO… Will he devote himself to the crypto market?

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Answer Jack Dorsey resigns as Twitter CEO… Will he devote himself to the crypto market?

Jack Dorsey, the co-founder of Twitter, confirmed his resignation as CEO of the company, a move that drew applause and grumbling at the same time from various quarters.

As is known in the Bird app he founded, Dorsey has led the company in various capacities ranging from his role as CEO to Chairman of the Board of Directors, among others.

Dorsey said in the past few hours:

I think it’s time to leave the company.

Dorsey himself has grown into more than just a Twitter expert.

He has used his role as a way to boost the popularity of Bitcoin and the cryptocurrency ecosystem more broadly.

Read:Meet a worker in the oil industry who quit his job to trade cryptocurrency full time

Several analysts have linked his resignation to a sense of crypto and decentralization, as there is speculation that he intends to decentralize social media.

With Dorsey leaving, he will be replaced by Parag Agrawal.

Paraj Agrawal of Indian origin started his career as an engineer at Twitter and rose to a senior position in the technology office, and is currently replacing Dorsey, a decision taken unanimously by the board of directors.

Jack Dorsey is the frontrunner for Bluesky, a decentralized social network project that seeks to serve as a broad platform on which other social media platforms are based.

Project Bluesky marked a milestone this year as it hired software veteran Jay Graber to lead the initiative in August.

Speculation is that he will focus on these projects for the foreseeable future.

The social media giant is also enthusiastic about NFT, as it hit a milestone by selling its first-ever tweet as a non-fungible token for $2.5 million, the proceeds of which he donated to the Africa Relief Charity.

With Jack out of Twitter, many possibilities or interactions can be followed, some of which are likely to benefit the broader crypto system.

Read:The latest comments about the digital currency Ripple and predictions about its next movement

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