RATE Group | Why a Fund’s Attempt to Oust Twitter’s Jack Dorsey May Hurt Crypto
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Why a Fund’s Attempt to Oust Twitter’s Jack Dorsey May Hurt Crypto

01 Mar Why a Fund’s Attempt to Oust Twitter’s Jack Dorsey May Hurt Crypto

Posted at 03:03h in Cryptocurrency News by

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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…

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