Twitter launching dedicated crypto team

11 Nov 2021

Twitter has announced it is launching a new team called Twitter Crypto to focus on cryptocurrencies, blockchain tech and “other decentralised technologies.”

Twitter Crypto will serve as a “centre of excellence” and will be "setting the strategy for the future of crypto at and on Twitter."

"Blockchain and crypto are unlocking new possibilities that align with many of our big product bets, including creator monetisation and new forms of self-expression," a company spokesperson told FOX Business.

Heading up Twitter’s crypto team is Tess Rinearson, who was previously vice president of engineering at crypto start-ups such as Interchain, Tendermint and Chain. Rinearson will report to Twitter chief technology officer, Parag Agrawal.

"I'm thrilled to share that I've joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralised technologies-including and going beyond cryptocurrencies,” Rinearson said.

"We’ll be exploring how we can support the growing interest among creators to use decentralised apps to manage virtual goods and currencies, and to support their work and communities," Rinearson added. "Looking farther ahead, we’ll be exploring how ideas from crypto communities can help us push the boundaries of what’s possible with identity, community, ownership and more."

Some of these areas include cryptocurrency payments, creator monetisation opportunities and decentralising social media with a Twitter-funded project known as Bluesky. 

CEO of Twitter, Jack Dorsey has long been a vocal advocate of crypto. He is also CEO of Square, which in summer unveiled a new Bitcoin-focused business. Furthermore, Dorsey said Square is looking into the construction of a Bitcoin hardware wallet and Bitcoin mining system.

“Bitcoin changes absolutely everything," Dorsey said during the Bitcoin 2021 Conference. "I don't think there is anything more important in my lifetime to work on."