Jack Dorsey, the co-founder of Twitter, now known as X, has made headlines by announcing his departure from the board of Bluesky, another social media platform. Meanwhile, the announcement of the recent departure has raised queries among tech market enthusiasts over the potential reason behind the move. In addition, this move comes along with an optimistic tone from Jack Dorsey for Elon Musk’s X, which has further intensified discussions.

Jack Dorsey Departs From Bluesky

In a recent report, Bloomberg unveiled the recent decision of the Twitter co-founder. Notably, Jack Dorsey is a popular figure in the technology market, who is also the co-founder of Block Inc., the developer behind the financial solutions provider, Square.

Meanwhile, in a surprising turn of events, Jack Dorsey has decided to step down from the board of Bluesky, a social networking service he helped fund and popularize. His decision to exit Bluesky comes amid a period of transformation for Twitter, now rebranded as X, after its acquisition by Elon Musk.

Simultaneously, the Twitter co-founder took to X, praising the platform as a hub for “freedom technology” and announcing philanthropic grants to support open internet protocols. Besides, his narrowed list of followers on X, including Elon Musk, Edward Snowden, and Stella Assange, suggests a warming of relations between Dorsey and X’s owner.

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Will It Matter For The Technology Market?

Bluesky initially envisioned as a decentralized alternative to Twitter, failed to gain significant traction in the face of Meta Platforms Inc.’s Threads. Despite its promising start, Bluesky struggled to maintain relevance, overshadowed by X’s emergence as a formidable player in the social media arena.

Notably, Dorsey’s departure from Bluesky signals a shift in focus towards X and Musk’s vision for the platform. With Dorsey’s endorsement and involvement in X, the platform may see increased attention and development, potentially challenging existing social media giants in the future.

Meanwhile, Jack Dorsey has also gained notable traction lately, after he demonstrated strong backing for Bitcoin and decentralized social media, donating $21 million to OpenSats. This highlights his belief in Bitcoin as the internet’s native currency, sparking crypto market optimism. 

However, OpenSats confirms the donation will support operational and development efforts. $15 million goes to the General Fund, $5 million to The Nostr Fund, and $1 million for operational budgets.

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The post Jack Dorsey Steps Down from Bluesky Board, Praises Elon Musk’s X appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am