Is Twitter's New CEO Pro Crypto?
On May 12th, Elon Musk announced that he would be stepping down as CEO of Twitter with Linda Yaccarino replacing him. Musk instead, has decided to step down to be CTO where he will have a closer look at the technical aspects of the company.
Despite Twitter’s ongoing struggles between users, media and news companies, and how to monetize the platform efficiently, Twitter’s crypto and NFT communities are some of the most active on the platform. With Yaccarino’s new place as CEO, there’s a belief that the platform will become an even stronger hub for web3 enthusiasm.
Who is Yaccarino?
Linda Yaccarino, an expert in communications, is known for her career in television working for Turner and NBC Universal for nearly 3 decades. In that time she acted as chairman multiple times, as well as executive vice president head of marketing.
One of Yaccarino’s biggest accomplishments was the launch of NBCUnified which helps collect and consolidate data from every branch at NBC, giving marketers and creators a better understanding of how to improve their business. According to her LinkedIn biography, the launch of NBCUnified has brought the company into the 21st century with its improvised flow of data, making her a great selection for Twitter as Chief Executive Officer.
Twitter’s crypto community
Elon Musk has described Twitter as the internet’s town square multiple times and it couldn’t be further from the truth when it comes to the various crypto and NFT communities on Twitter which will undoubtedly be one of Yaccarino’s first objectives - minimizing crypto scams and elevating web3 discourse.
At the end of 2022 (when Musk took over as CEO), it was revealed that Twitter had primarily become a platform for cryptocurrency and pornography, making it difficult to keep advertisers onboard as the platform’s content interfered with the integrity of many businesses.
While pornography is a separate matter, Yaccarino will be tasked with keeping a strong hold on the cryptocurrency community as they represent one of the most active communities on the platform. Fortunately, Yaccarino appears to be aware of this as her Twitter account shows that she is following both Dogecoin and Shiba Inu Coin, suggesting that cryptocurrency has a safe place on Twitter under her leadership.
Elon’s New Role
As we all know, Musk has been a huge proponent of cryptocurrency. He famously pumped the bags of Dogecoin in 2021 and has made significant investments into Bitcoin with Tesla where customers were once able to buy electric vehicles with BTC.
Since taking over Twitter, Musk has continued hyping up his favorite coins to a degree that some might begin questioning his motives. For example, earlier in the year we saw Twitter change its official logo to the Doge meme for a week, causing prices to rise significantly.
Stepping down though, it seems that Musk is more interested in the technical side of the company as CTO where he will focus on products, software, and sysops according to his tweet. He will also continue as an executive chairman, holding influence over the direction of the company.
