- Linda Yaccarino has been nominated to take over Twitter.
- Elon Musk will become Twitter’s CTO.
- The social media platform is in great need of advertising revenue.
Twitter, the leading social media platform for the crypto industry, will have a new boss.
On May 12, Twitter CEO and technology billionaire Elon Musk announced that he would be stepping down from his position.
“Excited to announce I’m hiring X/Twitter CFO last week and that he will start in about 6 weeks.”
Musk added that he will be the executive chairman and chief technology officer overseeing product, software, and system operations.
The Wall Street Journal was one of the first newspapers to start the speculation wheels.
On May 12, the newspaper reported that Linda Yaccarino, NBCUniversal’s advertising chief, was a leading candidate.
Linda Yaccarino has been the global head of advertising and partnerships at NBCU for over a decade.
Will the New Twitter Boss Share the Same Enthusiasm for Crypto?
Yaccarino is a possible choice for the social media CEO role and is among several other candidates. According to reports, she has previously told friends that she wants to be the CEO of Twitter.
According to WSJ, Yaccarino currently oversees approximately $13 billion in annual advertising revenue. She is also known for her close relationships with marketers and advertising agencies. “Ms. Yaccarino is known for her tough negotiating tactics, and media buying experts have dubbed her the ‘velvet hammer,'” the report added.
There is little connection between Linda Yaccarino and crypto, but Elon Musk still has an interest in the digital asset industry. He will likely continue to be influential behind the scenes.
He repeatedly reset the platform’s crypto goals. In April, Musk changed the Twitter logo to the memecoin Dogecoin (DOGE) logo, and prices rose.
Ella Irwin, Twitter’s leader in trust and security efforts, is also among the candidates, according to Insider.
Elon Musk completed a $44 billion deal for Twitter in October 2022. The advertising executive would be a good fit to manage the company, which currently has an urgent need for advertising revenue.
Crypto Markets Are Down!
Digital asset markets completed another week of decline. The total market value fell by 2.9% to $1.15 trillion during the day.
Bitcoin lost about 3% when it dropped to $26,677 at the time of writing. Meanwhile, Ethereum lost 3.3% when it fell to $1,770 in the morning.
