Twitter rolls out crypto unit; to focus on blockchain, NFT, Bitcoin tipping

US-based social media giant Twitter has rolled out a dedicated crypto division called Twitter Crypto with Tess Rinearson at the helm of affairs. In her Twitter thread, Rinearson said that the division will focus on crypto, blockchains, Bitcoin tipping, NFTs, and other decentralised technologies.

The team will figure how crypto will help Twitter and vice versa and will also explore how ideas from crypto communities can help Twitter push the boundaries of what can be done with identity, community, ownership and more.

“First, we’ll be exploring how we can support the growing interest among creators to use decentralised apps to manage virtual goods and currencies, and to support their work and communities,” she said. The microblogging site will work closely with web developer Bluesky to “shape the future of decentralised social media (and to make sure that Twitter stays on the cutting edge of this new landscape, too!),” Rinearson further noted.

She also mentioned that Twitter Crypto will “serve as a ‘center of excellence’ for all things blockchain at Twitter” and that the American social media giant will hire for roles in engineering and product. Bluesky retweeted Rinearson’s thread and said they can’t wait longer to collaborate with Twitter and Rinearson.

Besides Elon Musk and Tim Cook, Twitter CEO Jack Dorsey is also a known backer of cryptocurrencies. Earlier this year, Dorsey hailed Bitcoin as a unifier of a deeply divided nation. “Bitcoin will unite a deeply divided country (and eventually: world),” he tweeted.

He also rolled out a new Bitcoin based business unit for his digital payments company Square. The new company will build an open developer platform with the goal of making it easy to create decentralised financial services.
“Square is creating a new business (joining Seller, Cash App and Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless and decentralised financial services. Our primary focus is Bitcoin. Its name is TBD,” he said.

Dorsey even appeared with Tesla and SpaceX founder and CEO Elon Musk to discuss the future of cryptocurrencies in July this year. They were accompanied by Cathie Wood, Founder, CEO and CIO of ARK Invest as they discussed the impact of crypto mining on environment among other issues.

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