NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Why a Hedge Fund’s Attempt to Usurp Twitter CEO Jack Dorsey Could Hurt Crypto

Nick Chong
Nick Chong
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Yesterday, it was revealed that an activist hedge fund has intentions to remove Twitter’s CEO, Jack Dorsey. Crypto, interestingly enough, could be negatively affected by this move.

Hedge Fund Seeks To Oust Twitter CEO, Jack Dorsey

While Jack Dorsey has made his love for Bitcoin and crypto a big part of his personal brand over the past few months, he is first and foremost the chief executive of both social media platform Twitter and leading fintech firm Square.

Dorsey’s leadership position at Twitter may soon end — if a hedge fund has its way that is.

According to a Bloomberg report citing “people familiar with the matter,” the pro-crypto executive may soon be replaced because of Elliot Management Corp, an activist hedge fund, taking a sizable stake in Twitter.

The sources explained that this stake allows Elliot to nominate some of its people onto the board of directors, potentially giving them the capacity to move to replace Twitter’s incumbent CEO, which some have criticized in the past for simultaneously operating two companies.

May Harm Crypto & Bitcoin

As crazy as this may sound, this move could hurt Bitcoin’s and crypto’s prospects moving forward.

BTSE’s marketing director Lina Seiche shared the below headlines on Saturday, showing that Elliot Management in 2018 described crypto assets as “one of the most brilliant scams in history.”

Uh oh pic.twitter.com/sx9DIogHgC

— Lina Seiche (@LinaSeiche) February 29, 2020

Indeed, as Business Insider reported on the matter, the fund told clients in a letter that “cryptocurrencies are nothing except the marketing power of inventors, financiers and others who love the idea of buying a black box.” They went on to bash crypto assets as not just a bubble” and “not just a fraud,” marking one of the most “brutal takedowns” of Bitcoin and its ilk from a Wall Street company.

This is relevant to the potential removal of Dorsey from the office of Twitter’s CEO as the company has seemingly shown intent on implementing features that may revolve around Bitcoin.

If Elliot Management, with its anti-crypto skew, manages to put someone else in the seat that Dorsey currently resides in, Twitter’s potential attempts at integrating crypto will likely be canceled.

Dorsey Still Entrenched At Square

While Dorsey’s position at Twitter is at risk, he seems to be perfectly entrenched as the CEO of Square, which just posted an “upbeat earnings forecast,” as MarketWatch put it.

This is important because crypto, due to Dorsey’s support of the cryptocurrency and the surrounding ecosystem, has become core to Square’s operations; 50% of the company’s revenues (though only 2% or so of its profits) were derived from the sale of BTC through Square’s Cash App. 

Also, the fintech company has its own crypto division, which just recently released its first product: The Lightning Development Kit that should make using the Lightning Network, a Bitcoin scaling solution, that much easier.

Featured Image from Shutterstock
Tweet123Share215ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Massive Whale Profits $15 Million—Now Betting Big On Ethereum To Crash

A well-known crypto whale has made a big move against Ethereum, opening a $62.42 million short position using 18x leverage....

Christian Encila 2 hours ago
Bitcoin

Bitcoin Dominance Just Got Rejected From TSDT Resistance That Triggered Last Altcoin Season — Details

Bitcoin Dominance (BTC.D) has hit a critical turning point after getting sharply rejected from a TSDT resistance level that previously...

Scott Matherson 3 hours ago
Bitcoin

Bitcoin Next Key Level Is $136,000 If Momentum Holds, Glassnode Says

The on-chain analytics firm Glassnode has pointed out how $136,000 could be the next price level of importance for Bitcoin,...

Keshav Verma 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum price news

Ethereum Could Shoot Above $4,000 This Week, Predicts Analyst

Jake Simmons 17 minutes ago
bitcoin price btc btcusd

Bitcoin Price Still Not Overheated Says Top Metrics, Is $150k Close?

James Halver 1 hour ago

SOL幣價格現強勢能突破300美元嗎?牛市來臨前最值得下注的1000倍幣!

Kelvin Lee 1 hour ago

Premium Sponsors

Press Releases

  • 2 kryptoměny s extrémně vysokým oceněním, které mohou stát za to riziko

    2 kryptoměny s extrémně vysokým oceněním, které...

    7 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    2 rendkívül magas árfolyamú kriptovaluta, amelyeket...

    8 hours ago
  • 2 криптовалути с небесни оценки...

    10 hours ago
  • 仮想通貨プレセール|ビットコイン向け最速かつ唯一の本格レイヤー2が300万ドル突破

    ...

    11 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    ...

    11 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.