Twitter CEO Jack Dorsey has resigned from his position at the social media firm later serving for more than than six years.

In a Mon tweet to his v.9 meg followers, Dorsey said he had stepped down every bit the CEO of social media giant Twitter, which he helped co-found in 2006. He announced that the company'southward lath of directors has appointed Twitter principal technology officeholder and board fellow member Parag Agrawal to replace Dorsey "starting today." Dorsey said his determination to step down was based on the board's approval of Agrawal, board member Bret Taylor agreeing to be the new chair and the opportunities for up mobility for other Twitter team members.

"I believe it's really important to give Parag the space he needs to lead," said Dorsey. "I believe it's disquisitional a visitor can stand up on its own, free of its founder's influence or direction."

Dorsey served as Twitter's CEO from 2006 to 2008 and afterwards from 2022 following the divergence of Dick Costolo. Information technology's unclear if Dorsey plans to get out the social media house backside to focus on operations at Square and the platform's initiative to develop a decentralized Bitcoin (BTC) exchange.

Related: Jack Dorsey discusses plans to build a decentralized exchange for Bitcoin

On Nov. xix, the decentralized exchange project, called tbDEX, released a white paper detailing its plans to create a bulletin protocol designed to facilitate trust relationships without relying on a federation to control access. Though Dorsey has sometimes used his platform to brand announcements for the commutation, there are no reports at the time of publication that he plans to become more involved in the project.