'Hell no': Twitter's Jack Dorsey blasts Facebook Libra project

Twitter wants nothing to do with the Libra Association, CEO Jack Dorsey said this week.

Per a thread by Hollywood Reporter editor Alex Weprin, who was covering an event at Twitter’s New York office, Dorsey gave a straightforward answer when asked if his company would consider joining Facebook’s Libra project. “Hell no,” he said, adding: "Nothing within Libra had to be a cryptocurrency to do what they wanted to do."

Dorsey, who is also CEO at PayTech venture Square, then responded to Facebook boss Mark Zuckerberg’s testimony before the US House Financial Service Committee on Wednesday. “A lot of it seemed to be based in American tradition,” he said. “I fear that if we base too much in this one concept, we take away the ability to experiment and expand.”

Bitcoin’s the best

Last month, Dorsey dismissed the idea of a cryptocurrency dedicated to Twitter. “I think [Bitcoin's] the best bet because it's been the most resilient, it's around for 10 years, it has a great brand, and it's been tested a bunch. [...] As I look at all cryptocurrencies that could fill that role of being the native currency for the internet, [Bitcoin is] a pretty high probability,” he commented.