Twitter co-founder and Block CEO Jack Dorsey tweeted harsh criticism of Ethereum over the weekend, saying that the blockchain “has many single points of failure” and projects built on Ethereum are “not interesting” to him.
Last summer, he said "no" when someone tweeted that it was “only a matter of time” before the Block CEO invested in Ethereum. A month and a half later, he not-coincidentally shared an anti-Ethereum tweet.
Still, Dorsey’s criticisms of the world’s second-largest cryptocurrency remained obscure—until last weekend.
Buterin wrote that while he is not opposed in principle to Musk taking over Twitter, he fears the move would set a dangerous precedent for less liberal individuals and organizations.
Don't oppose Elon running twitter (at least compared to status quo), but I do disagree with the more generalized enthusiasm for wealthy people/orgs hostile-takeovering social media firms. That could easily go *very* wrong (eg. imagine an ethically-challenged foreign gov doing it) https://t.co/LDqjXh3xCK
Dorsey replied “same” and, in another tweet, added: “I’m [sic] don’t believe any individual or institutions should own social media, or more generally media companies. It should be an open and verifiable protocol. Everything is a step toward that.”
Before leaving Twitter last November, Dorsey had wanted to design a decentralized standard for social media platforms to conform to.
In 2019, he funded an initiative called “Blue Sky,” led by Twitter’s then-CTO Paral Agrawal, to work towards this goal.
In August 2021, Dorsey tapped Jay Graber, creator of events social network Happening, who took over from Agrawal as project lead. Agrawal then became Twitter CEO after Dorsey’s departure.
If you want to read more about how billionaires envision a decentralized and Web3-integrated Twitter, check out yesterday’s Crypto Twitter roundup, where we covered Tron CEO Justin Sun and FTX CEO Sam Bankman-Fried’s suggestions.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Stripe is making a renewed push into crypto and artificial intelligence, unveiling a slate of new features at its annual user event on Wednesday in San Francisco.
Two major updates include the rollout of Stablecoin Financial Accounts, which will allow businesses in 101 countries to hold balances in dollar-backed stablecoins, receive funds via crypto or traditional rails, and send stablecoins globally.
It also rolled out a new Payments Foundation Model, an AI system trained on tens of billions of...
DeFi Development Corp., a publicly traded real estate software firm turned crypto holding vehicle, said Wednesday it will execute a 7-for-1 stock split later this month, capping a frenetic pivot into the Solana blockchain ecosystem that has fueled a staggering rally in its share price.
The split, approved by the board and pending regulatory steps, will take effect May 20.
Shareholders of record as of May 19 will receive six additional shares for each share they hold, increasing outstanding shar...
Visa announced another crypto venture this week, revealing an investment in stablecoin infrastructure company BVNK.
London-based BVNK announced the “strategic investment” from Visa via the payment giant’s Visa Ventures arm. It did not reveal the size of the investment, but said it came following the firm’s $50 million Series B round in December.
BVNK says it’s building a “real time, 24-7, 365 payments network” for businesses using blockchains.
Only last week, Visa announced that it was partne...
