Jack Dorsey is expected to retire from his role as CEO of Twitter, according to a CNBC report.
According to CNBC, Twitter stock rose by more than 5% on the news. It is not yet clear who will succeed Dorsey.
Curiously, his latest tweet said, “I love twitter”.
Dorsey founded Twitter in 2006 and served as its CEO until 2008. He took over the role again in 2015.
I love twitter
— jack⚡️ (@jack) November 28, 2021
According to CNBC, Twitter stakeholder Elliott Management attempted to oust Dorsey from his executive position last year. Its founder Paul Singer called for him to step down from one of his CEO positions.
In addition to Twitter, Dorsey is a co-founder and the CEO of the financial services company Square.
While holding executive positions at both companies, Dorsey integrated Bitcoin into Twitter’s payment methods for specific content creators.
Decrypt reported that Square’s TBD division released a white paper on 20 November, presenting its decentralized cryptocurrency exchange, tbDEX, which was initially announced in July 2021.
According to the document, tbDEX is a “protocol for discovering liquidity and exchanging assets (such as bitcoin, fiat money, or real-world goods)” safely, without having to know the identity of other parties.