Jack Dorsey quits Twitter, sparking speculation about his future

Jack Dorsey, co-owner of Twitter, announced on Monday that he is resigning from his position at the company, sparking rumors that he will move into a dedicated role in the field of criptocurrency.

In a resignation letter posted on the social media platform, Dorsey spoke about the limitations of founder-led companies, saying they are severely limiting and risky in the sense that they are a single point of failure.

He said key personnel in Bret Taylor and Agrawal can lead Twitter in the right direction for future growth and success, making his resignation more tenable.

I want you to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company and all of you so much. We will prove that this was the right move. What s next for Dorsey?

Speaking at the Miami conference in June, Dorsey said he d be working on Bitcoin if it wasn't for Square or Twitter. He said both companies have a role to play, as far as adoption of cryptocurrencies is concerned.

Both companies are known as pro-crypto under Dorsey's leadership. In September, Twitter introduced its Tips feature, enabling users to tip content creators in criptocurrency.

The Square's Cash app was one of the first payment apps to includeBitcoin over four years ago. The firm said that 5% of its total cash was in the leading criptocurrency earlier this year.

Speculation mounts on what Dorsey will do next.

The top replies to the tweet came from prominent crypto figures, even though Dorsey did not mentioncryptocurrencies in her resignation letter. It was possible for Dorsey to work full-time in cryptocurrencies if he included Binance s Changpeng Zhao.

While Doge coin co-founder Billy Markus did drew parallels with Dorsey's comment on the limitations of founder-led companies, saying Doge coin only took off after he left.