All Been Crypto — Week 3 Dec 2021

HEADLINES:

What does Jack Dorsey stepping back as Twitter CEO tell us

We watched Jack on Twitter (where else) announcing stepping down as the CEO of Twitter this week. Something that was rumored for a while but nevertheless caused widespread reactions. He was CEO of both Twitter and Square (now renamed Block) and its no secret he’s more on the BTC maxi side of things. There were voices calling this him moving from Web 2.0 to Web 3.0 and also quite many arguing this is bullish ETH. In fact we saw shortly after some ETH tipping function enabled, but at the same time concerns were on censorship and the future of Twitter. Even saw a group calling for a DAO to buy enough shares to get a seat on the board — guess that’s the flavor of the time. I want to focus more on what’s ahead for Jack though given he’s got a vision and the rebranding of his other baby Square to Block can tell us where he’s going. I like the analogy of 2D to 3D. Square to block get it? They also had recently released a whitepaper aiming at nothing less than bringing DeFi to bitcoin. The aim is to make it easy to fund a non-custodial wallet anywhere in the world through a platform to build on- and off-ramps into bitcoin. You can think about it as a decentralize exchange for fiat too. We can clearly see how Block will go down the BTC route while Twitter is embracing ETH.

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Bat Tai Chi

Bat Tai Chi

Blockchain and Crypto enthusiast since 2017 with experience in traditional financial markets. Helping you see the bigger picture behind the headlines every week