Head of crypto leaves Twitter, what does Elon Musk want with Dogecoin? – BLOX

 Head of crypto leaves Twitter, what does Elon Musk want with Dogecoin?  - BLOX

For anyone who has logged onto Twitter in recent weeks, there is an interesting spectacle going on. One after another employee of the social media company is leaving or has been fired since Elon Musk became the new director.

Mass departure from Twitter

There are rumors that the workforce has decreased by 75% and only a so-called skeleton crew keeps Twitter running. A lot of expertise has left the company, and the fear is that Twitter can stay online as long as there are no bugs or updates.

The first bug could take Twitter offline, or Musk have to give one of the fired programmers a big bag of money to stick a Band-Aid on.

Head of crypto leaves Twitter

But that is Twitter’s critical technical infrastructure, and a lot of talent is also leaving the company in secondary activities. According to Bloomberg, Tess Rinearson, head of the social media platform’s crypto team, has left Twitter.

Before joining Twitter, Rinearson was involved in the development of Tendermint Core, she also worked with Chain.com, the Interchain Foundation and Cosmos. About a year ago she started at Twitter.

Endless ambitions in crypto

At the time, the entire crypto market was still in a huge high, and the Bitcoin price had just reached its highest value ever. Bankruptcy in crypto? At the time, that seemed even more unlikely than Dailey Blind recording the fastest sprint at the World Cup.

Rinearson had big ambitions at Twitter, her team would focus on perfecting the tips-in-bitcoin feature and further work on proof-of-identity service through NFTs. In addition, Rinearson planned to work on support for dApps and other identity-centric solutions, asset ownership, and community building.

NFTs on Twitter

Under her direction, Twitter allows its users to use NFTs as profile pictures. The social media platform also recently announced a pilot program that allows users to tweet NFTs with a built-in click-through button that can then be used to purchase digital assets from participating marketplaces.

She is not alone, says Bloomberg, senior software engineer Hamdi Allam has also left Twitter’s crypto division.

It is unknown what will happen to Twitter’s blockchain initiatives given Rinearson’s recent departure. Elon Musk seems to want to overhaul the entire company and make Twitter a kind of supreme communication tool. Does his beloved Dogecoin still play a role in this?

What does this mean for Dogecoin?

For now, there is nothing definitive from Musk about Dogecoin’s integration into the social media platform. Somehow we expected Musk to launch an announcement to label Doge as the payment method for blue ticks.

“Bitcoin is fundamentally not a good substitute for transaction currency,” Musk told Time Magazine last December after being named 2021 Person of the Year by Time. ‘

Musk has also announced that he is looking for a director of operations for Twitter. If he ends up choosing a new leader who isn’t crypto-minded, it could negatively impact DOGE’s stock price.

But since crypto is already part of Twitter and Musk is an evangelist, it’s unlikely he’s hiring someone who isn’t into crypto.