Block Inc says its co-founder Jack Dorsey is changing his role from CEO, president and chairperson to “Block Head and Chairperson,” effective immediately.
The NFT selling platform highlighted three main problems: people selling unauthorised copies of other NFTs, people making NFTs of content which does not belong to them, and people selling sets of NFTs which resemble a security.
Social-media giant says it will block users from sharing private images of other people without their consent, but some users say Twitter needs to clarify exactly how the tightened policy would work.
Twitter shares rose five percent to $49.47 in morning trading after the announcement.
Last week, Tesla Inc Chief Executive Officer Elon Musk said that the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency.
Dorsey's tweet highlights a surge of interest around NFTs, or non-fungible tokens, that use the blockchain technology behind cryptocurrencies to turn anything from art to sports trading cards into virtual collector's items that can't be duplicated.
Jack Dorsey's post from March 2006 received offers that went as high as $88,888.88 within minutes of the Twitter co-founder posting it for sale on a website that sells tweets as non-fungible tokens (NFTs).
Bitcoin, once the preserve of internet geeks and hobbyists, has since exploded in popularity and has now rocketed by almost 75 percent in value so far this year.
Amid ongoing farmer protests and global focus on them, Twitter's refusal to comply with the Modi government's order to block hundreds of accounts puts the social media giant at the centre of a political firestorm.
When Trump incited his followers to storm the US Capitol, then continued to tweet ominous messages, the resulting risk to public safety created an “extraordinary and untenable circumstance” for the company, according to Jack Dorsey.
The social media giant's decision to suspend US President Donald Trump's Twitter account following the storming of the US Capitol by his supporters has triggered a debate on free speech and monopoly of public discourse.
US Senator Josh Hawley shoots letters to Twitter's Jack Dorsey and Facebook's Mark Zuckerberg, asking them to testify at Senate sub-committee after social media giants blocked a news story about Democrat Joe Biden and his son Hunter Biden.
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