CEO Jack Dorsey Might be Getting Ready to Peg Lighting Network with Twitter

The enthusiastic CEO of Twitter, Jack Dorsey, is an outspoken and visible Bitcoin proponent. He has several times shared his optimistic stance and vision for the flagship cryptocurrency. A few days ago, Dorsey was applauded in the crypto community about his claims that he would leave his current positions if Bitcoin needs more attention. Once again, similar exciting news has surfaced to the excitement and surprise of the crypto-verse.

A crypto follower on Twitter tweeted at Dorsey, asking him about integration plans for Lightning Network and Twitter. To this, the CEO responded that it is only a matter of time. At this point, no other indications or details have been shared on this topic. However, the idea has become the center of attention and discussion on social media platforms. It should be noted that the Lighting Network is a secondary project built on top of the Bitcoin network. 

The same news that mentioned Twitter integration with LN also made a flying reference to the BlueSky project. BlueSky is a decentralization project for the social media platform. The CEO of Twitter, Dorsey, has shared a wallet address linked with Spinx Chat on his account as well. Spinx Chat would serve as a messenger service with encryption coding for the BlueSky project.

Both these projects are hosted by the Lightning Network. Considering the close association of Twitter with LN, it is not a far-fetched assumption to assume that the new idea has good enough merit for becoming a reality. On the other hand, the same layer two ecosystems are also used for supporting smart payment solutions like Strike. Speaking at the Bitcoin 2021 conference claimed that Bitcoin is the most important digital asset for him, while other variants of crypto do not factor in at all. 

Has Twitter Added Bitcoin to their Balance Sheet?

It is no secret that Twitter CEO is not issuing great endorsements for the flagship cryptocurrency. But he has also invested a significant amount of money in promoting different crypto savvy projects. In February, Dorsey invested about $1 million into a crypto think tank initiative called Coin Center. Another organization under the wing of Dorsey is Square that has publically declared that it holds about $420 million in crypto reserves.

Since then, the rumors about Twitter adding Bitcoin to its balance sheet have surfaced time and again. However, answering the same question in a CNBC interview, Ned Segal, CFO of Twitter, put all these rumors to bed. He claimed that the social media empire wants to proceed with caution and conduct some more research before taking the plunge.

Leave a Reply

Your email address will not be published.

Related

ECB’s President, Christine Lagarde, Says Crypto Assets Have No Worth

In an interview, Christine Lagarde, the head of the European Central Bank, made it quite plain where she stands concerning the value of digital assets. Head Of ECB Label Cryptos As Worthless According to a survey by Politico, the head of the ECB noted her position on crypto. The ECB head stated that digital assets […]

UK Regulators are Investigating Terra’s Fiasco and Considering Crypto Rules

UK cryptocurrency market regulators are currently investigating Terra’s plunge. It began amid the recent cryptocurrency market massacre. The leading cryptocurrency in the market, BTC, fell as low as $26,000 during the market downturn. At the same time, Terra fell by about 100%. Terra’s Meltdown Under Investigation as UK regulators Consider New Crypto Rules While regulators […]

FTX Launches Stock And ETF Trading Option In The United States 

A prominent cryptocurrency exchange, FTX, is getting into the stock trading business. Soon, its users will be able to trade equities and exchange-traded funds on the platform.  Only A Few Users In The United States To Enjoy The Service  The Wall Street Journal reports that the firm Sam Bankman-Fried helped establish and serve as its […]

Major Australian Bank Shelves Crypto Launch Plan

CBA’s Crypto App Plan As previously mentioned last year, Australia’s biggest bank disclosed plans to let its users carry out crypto-related transactions on its app.  It has been taking its plan to develop the project but as not stated a particular time it will finally launch the project to the public. It also has plans […]

Crypto Investors Suffer from Lingering Fears

The Situation at Hand The drastic drop and decline that befell the digital asset market last few weeks have left a mark on the users and investors of crypto, with crypto coins and other assets experiencing their lowest of lows and even stablecoins being affected, it’s no surprise that both old and new investor is […]