Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Jack Dorsey has stepped down as Twitter CEO
Twitter co-founder Jack Dorsey announced Monday that he has stepped down from his role as CEO. Replacing Dorsey will be Twitter board member and chief technology officer Parag Agrawal, who was unanimously appointed to CEO by the company’s board of directors.
Dorsey also serves as the CEO and chairman of crypto-friendly payments tech firm Square, and it is unclear if he left Twitter to solely focus on the platform’s plans to develop a decentralized Bitcoin (BTC) exchange. He did note, however, that the company does not need to be founder-led to thrive.
“I believe it’s really important to give Parag the space he needs to lead,” said Dorsey. “I believe it’s critical a company can stand on its own, free of its founder’s influence or direction.”
Former Citi banker launches $1.5B crypto fund, taps Algorand as first partner
On Monday, 14-year Wall Street veteran and former Citi banking executive Matt Zhang announced a $1.5 billion multi-strategy fund called Hivemind Capital Partners that is aiming to support up-and-coming crypto projects.
In particular, the fund will place a strong emphasis on crypto infrastructure builders, virtual worlds and Metaverse projects, and programmable money. The fund’s first technology partner will be proof-of-stake-based blockchain Algorand.
While Hivemind is yet to announce any major funding, Zhang said the firm will support crypto entrepreneurs with infrastructure that cannot currently be offered by traditional asset management models.
Square rebrands to Block as focus shifts to blockchain
Speaking of Square, the firm revealed on Wednesday that it had rebranded to Block, suggesting it may be ramping up its focus on the blockchain…
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