Jack Dorsey’s Square Crypto makes a statement after former Google exec joins to lead expansion plans

Steve Lee, former Product Director of Google, made headlines for teaming up with Square Crypto. The news was made public in a series of tweets fueled by Square Crypto on Twitter. The official handle initially announced that a person named “Gary Fuches” would be joining their crypto team. However, later citing “unannounced reasons,” the handle tweeted that Steve Lee from Google would be joining the team instead.

Square Crypto, led by Jack Dorsey [Co-founder and CEO of Square Crypto], had recently announced earning $65.5 million in Bitcoin [BTC] revenue, with respect to their first quarter in 2019. Further, the company made $52.4 million Bitcoin in revenue in the last quarter of 2018. According to sources, the revenue is said to come from the growing adoption of “Cash App” by users.

Breaking the acquisition news, Square Crypto announced,

“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.”

Steve Lee’s arrival comes as positive news for the crypto-ecosystem as speculators expect his experience at Google and Yahoo to catalyze mainstream crypto-adoption. He is said to be hired in line with the expansion plans of Square, which was announced through Twitter on March 21, 2019. There have also been speculations around Dorsey’s decision to pay his employees in Bitcoin, instead of traditional fiat currency.

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