Twitter’s Pro-Bitcoin CEO Jack Dorsey to Step Down – Reports
Twitter co-founder and CEO Jack Dorsey is expected to step down from his role as chief executive of the social media platform, several media outlets reported on Monday.
The news was first reported by CNBC, while Reuters and Bloomberg also reported on the story, all citing unnamed sources “familiar with the matter.”
According to Bloomberg TV, Twitter will appoint its current chief technology officer Parag Agrawal as the new CEO. The report added that Agrawal will also join Twitter’s board of directors “effective immediately.”
Twitter’s stock has been halted by the New York Stock Exchange due to a pending news announcement from the company. Before trading was halted, Twitter’s stock was up 3.42% for the day.
It is unclear who would take over for Dorsey if he were to step down as CEO of the company.
In addition to his role at Twitter, Jack Dorsey also serves as the CEO of payments company Square, which has taken an active role in advancing the adoption of bitcoin (BTC).
Jack Dorsey is well-known as an advocate of bitcoin, often calling it “the native currency of the Internet.”
The tech entrepreneur said during the Bitcoin 2021 conference in Miami this past June that if he wasn’t working at Square or Twitter, he would be working on Bitcoin, while adding “If it needed more help than Square and Twitter, I would leave them for bitcoin.”
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___(Updated at 15:48 with a report from Bloomberg TV.)
