Thursday Breaking News: Twitter Launches Crypto Division for All Things Blockchain
Social media and tech giant Twitter plans to launch a new division within the corporation targeting the integration of blockchain and crypto to the platform’s products and infrastructure. This new branch will be called “Twitter Crypto” with its sole focus on “crypto, blockchains and decentralized apps,” according to Tess Rinearson, who will be the head of the project.
In the Twitter thread announcing her role of leading Twitter Crypto, Rinearson says that one of the biggest priorities of the project will be aiming at supporting creators in using decentralized applications (dApps) to manage virtual goods and currencies, and to also support creator content and communities. In addition, the branch will collaborate with Bluesky, which is a decentralized social media platform under Twitter.
It does not come as a surprise that Twitter would launch a division focused on all things blockchain, considering CEO Jack Dorsey’s history as a long-standing crypto supporter. Beyond his role as the CEO of Twitter, Dorsey is also a founder and owner of payments company Square, which holds a massive treasury of Bitcoin and has had recorded millions in profit from crypto-based transactions.
Twitter also announced back in September that it was enabling users to be tipped in bitcoin, and that it is exploring more ways to integrate crypto payments on the platform; thus, the assembling of a crypto and blockchained-centric department in Twitter seemed like a logical move following that announcement.
It is unclear how much this news will sway the market in terms of affecting the prices of major cryptocurrencies such as BTC and ETH; however, this is certainly positive news that a tech giant is willing to actively support the advent of dApps and the creators and communities of web3. Moreover, coins that currently support the developments of dApps, such as ETH, ADA, and DOT, stands to gain from public support of a large corporation. Though this will not immediately be reflected in the prices of these coins, it is certainly a good idea to keep an eye on the price movements of these three cryptocurrencies, as this news means massive upside in the foreseeable future.
ETH: $4,747.91 (+2.55% last 24h)
ETH price chart over last 24 hours (15 minute intervals)
ADA: $2.092146 (-0.27% last 24h)
ADA price chart over last 24 hours (15 minute intervals)
DOT: $48.246 (+3.18% last 24h)
DOT price chart over last 24 hours (15 minute intervals)
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