Twitter CEO Jack Dorsey Backs Crypto Token Sales Platform $10 Million Round

Francisco Memoria

Jack Dorsey, the pro-bitcoin CEO of social media platform Twitter and of payments startup Square, has participated in CoinList’s $10 million funding round.

The round involved other investors and was led by Polychain Capital. According to the Wall Street Journal CoinList, a crypto token sales platform, is planning to use the funds to launch a cryptocurrency exchange called CoinList Trade, a cryptocurrency wallet, and more.

Dorsey, who’s a known bitcoin proponent, stated:

Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step.

Dorsey’s payments firm Square has notably launched a separate cryptocurrency unit called Square Crypto, which is looking to help boost cryptocurrency adoption to help BTC become a currency used on a daily basis.

Notably earlier this month Dorsey revealed during a “Fireside Chat” to Ben Smith, BuzzFeed’s Editor-In-Chief, he wasn’t planning on joining Facebook’s proposed cryptocurrency Libra, going as far as saying it was wrong for the social media giant to refer to Libra as a cryptocurrency.

Per The Verge Dorsey doesn’t like Libra because it’s “not an  internet open standard that was born on the internet. It was born out of a company’s intention, and it’s not consistent with what I personally believe and what I want our company to stand for.”

Featured image by Kon Karampelas on Unsplash