The payments company Square is in the topics of many best cryptocurrency news sites for hiring the former Google director Steve Lee as the first member of its new crypto team. The news that Square hires an ex director came from the a related Twitter account this Wednesday afternoon, without specifying the role of Lee at the company and what it will involve.
“Hey guys. Management again. Unfortunately, things didn’t work out with Gary. However, we think we’ve found somebody who can live up to his commitment to decentralization. Please welcome Steve Lee, aka
@moneyball, to the Square Crypto team,” the post noted.
A spokesperson for Square also declined to comment the news. The maker of the Bitcoin-friendly Cash app which is led by the CEO of Twitter, Jack Dorsey, recently announced that it was hiring a crypto team in March this year. At the time, Dorsey noted that the new roles would be focusing not on Square’s own commercial interests – but rather on “what is best for the crypto community.”
Now that Square hires an ex-Google director, positive changes are expected. Meanwhile, Lee left Google in 2015 after eight years spent as a director in the search giant. Ever since then, Lee has become a Bitcoin Optech contributor and an angel investor who lists key exits including the companies Lyft, Pinterest and Yardbarker.
As reported in our latest cryptocurrency news section, Square has generated $65.5 million in Bitcoin-related revenue in the first quarter of 2019, which was its highest quarterly volume to date.
A lot of users saw the news that Square hires an ex-Google director and commented with their interest for the company to change some things. For example, one noted that users are interested in seeing the road map and tasks which will include adding Litecoin (LTC) to the cash app, launching crypto to all merchants and adding native accounts.
Others congratulated Steve and commented that this was an excellent hire made by Square – expressing their enthusiasm and support for Steve Lee and saying that he is “the perfect person for the role.”
Meanwhile, recent news showed that Square’s Cash App is “absorbing” 10% of Bitcoin supply on a daily basis.
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“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
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