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Twitter CFO Says Buying Crypto Assets ‘Doesn’t Make Sense Right Now’: Report
Ned Segal cited volatility as to why the company doesn’t want to invest in crypto.
Investing in cryptocurrencies “doesn’t make sense right now,” Twitter CFO Ned Segal said, according to the Wall Street Journal.
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- Twitter would have to change its investment policy to hold more-volatile assets on its balance sheet, Segal said. The company prefers to hold less-volatile assets such as securities, he added.
- Fintech firm Square, which is also headed and co-founded by Twitter CEO Jack Dorsey, Elon Musk’s Tesla and software firm MicroStrategy hold crypto on their balance sheets.
- Dorsey is a supporter of decentralized technology, including bitcoin and other cryptocurrencies.
- Twitter wants to let users connect their accounts to third-party services that allow them to send tips in bitcoin and bring authentication for non-fungible tokens on its platform. Twitter has also started a crypto team.
Read more: Twitter to Add Bitcoin Lightning Tips, NFT Authentication
Eliza Gkritsi
Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.
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