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Jack Dorsey Steps Down from Bluesky Board, Praises Elon Musk’s X

Jack Dorsey steps down from the board of the social media firm, Bluesky, sparking discussions in the tech sector. He also emphasizes support for Elon Musk's X and decentralized social media.
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Jack Dorsey Steps Down from Bluesky Board, Praises Elon Musk’s X

Highlights

  • Dorsey departs Bluesky board, shifting focus to Elon Musk's X platform.
  • X hailed as "freedom technology" by Dorsey, receives philanthropic support.
  • Bluesky struggles, overshadowed by X's emergence in social media.

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.

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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.

Also Read: Bitcoin Blockchain Processes One-Billionth Transaction, Next Billion Coming Soon

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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.

Also Read: Pepe Coin Whale Buys 143 Bln PEPE, $0.00001 On The Horizon?

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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