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Twitter CEO Jack Dorsey steps down! Community speculates about future direction, who will be the next CEO and what is their background?

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Twitter CEO Jack Dorsey steps down! Community speculates about future direction, who will be the next CEO and what is their background?

Twitter founder Jack Dorsey announced his resignation as CEO unexpectedly on the evening of the 29th. The current Chief Technology Officer (CTO), Parag Agrawal, will succeed him as the new CEO. This sudden news has sparked a wave of comments on Twitter, with many expressing curiosity about Jack Dorsey's next steps. What is the background of this new CEO?

Jack Dorsey Steps Down as Twitter CEO

"After almost 16 years of working at the company, I've decided it's time to leave. It's critical for a company to be able to operate independently of its founders' influence and guidance."

The CEO, who is a fervent Bitcoin supporter and enjoys interacting with users on Twitter, has made significant strides in the cryptocurrency space over the past two years. His payment company, Square, has made substantial investments in cryptocurrencies since last year and recently announced plans to create a new decentralized exchange centered around Bitcoin. In September of this year, Twitter introduced a Bitcoin tipping feature and announced the formation of the Twitter Crypto team, aiming to integrate decentralized technology with the platform.

This sudden resignation has left many wondering whether Jack Dorsey intends to focus on developing Square's business or delve into Bitcoin technology. However, this was not mentioned in his resignation letter, and the actual circumstances await further clarification from Jack Dorsey.

Community Reactions

TechCrunch editor Panzer also shared his thoughts on the matter, suggesting that Jack Dorsey may want to concentrate on developing Web 3.0 initiatives. While Twitter can only play the role of an observer, Square is a true participant.

https://twitter.com/panzer/status/1465350740365299716?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1465350740365299716%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F87180%2Fdorsey-twitter-bitcoin

Regardless of Jack Dorsey's future plans, the absence of a CEO who is passionate about the cryptocurrency industry at Twitter may raise concerns. Many are beginning to worry whether Twitter's commitment to the crypto space will wane in the future, possibly leading to the reversal of previous promises and decisions.

New CEO Parag Agrawal

"Parag will be our CEO. He's been my choice for some time now because of his deep understanding of the company and its needs," Jack Dorsey stated in the letter.

From the above statement, it is evident that Jack Dorsey trusts the new CEO, and Parag Agrawal's response shows his enthusiasm for Twitter.

However, based on his Twitter activity in recent years, it is apparent that the new CEO will not express the same fervor for Bitcoin as Jack Dorsey did. After all, he has not posted about Bitcoin in any of his tweets, with only 10 posts and 13 retweets from 2021 to the present, most of which are unrelated to the crypto space.