The fund is likely to invest anywhere from $75 million to $100 million in Indian blockchain and crypto startups, people close to the development said.Įven as few venture funds remain uncertain about entering India due to a potential ban on all private cryptocurrencies, Draper Dragon Fund, part of Draper Venture Network, is bullish on India’s prospects. This puts the number of investors between 1.5 and 2 crore.Ĭall for independent regulator: The industry believes that the government should consider a separate regulator (like TRAI for the telecom industry) for the digital asset.Ĭrypto fund Draper Dragon eyes India debut: Silicon Valley-based Draper Dragon Fund, an early backer of Nasdaq-listed crypto exchange Coinbase Global, is entering India amid regulatory uncertainty around the future of blockchain technology and crypto trading. The Standing Committee felt that since airdrops (of coins) are in the nature of gifts, they should be taxed,” a person familiar with the discussions told ET.ĭata on crypto holdings: Exchanges have already shared data with RBI on crypto holdings under various investment brackets-number of investors holding above Rs 1,000, between Rs 1,000 and Rs 10,000, etc. Sources say: “A rule to route transactions through exchanges instead of P2P transfers between private wallets is likely so that cryptos changing hands don’t escape the regulatory net. It's his time to lead,” Dorsey said.Ĭurbs on peer-to-peer deals, tax on airdropped coins, capital criteria for exchanges, and a filtration mechanism to allow only a certain kind of cryptocurrencies were among proposals that were mooted in the course of separate interactions between lawmakers, Reserve Bank of India (RBI) and the crypto community while exploring a possible regulatory framework if cryptos are allowed to survive with restrictions. I'm deeply grateful for his skill, heart and soul. His work over the past 10 years has been transformational. I’ve worked hard to ensure this company can break away from its founders and its founding…”ĭorsey on Agrawal: “The company is ready to move on from its founders.My trust in Parag as Twitter's CEO is deep. Ultimately I believe that’s severely limiting and a single source of failure. 
Outgoing CEO's quote: “There’s a lot of talk about the importance of a company being ‘founder-led’. I've walked in your shoes, I've seen the ups and downs, the challenges and obstacles, the wins and mistakes… But then and now, above all else, I see Twitter's incredible impact, our continued progress, and the exciting opportunities ahead of us," Agrawal said.Īgrawal has been instrumental in tackling our most important priorities, including accelerating our development velocity, incoming chairman Bret Taylor said. Quote: "While it was a decade ago, those days feel like yesterday to me. Twitter's cofounder and outgoing CEO Jack Dorsey. Other projects: Since December 2019, Agrawal has also been working on Project Bluesky, an independent team of open source architects, engineers and designers to combat abusive and misleading information on Twitter.īluesky is seeking to introduce a new decentralised technology, the idea being that Twitter and others will become clients of Bluesky and rebuild their platforms on top of the standard, Dorsey has said previously.īefore joining Twitter, Agrawal worked at Microsoft, Yahoo and AT&T Labs in their research units, according to his LinkedIn profile.
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He oversaw Twitter's technical strategy and was responsible for improving the pace of software development, while advancing the use of machine learning across the company. His appointment as the new CEO signals that the company will continue to focus on blockchain and decentralised technologies.Īgrawal joined Twitter 10 years ago when there were fewer than 1,000 employees. He has also been involved in the company's crypto and blockchain teams. More about the new CEO: As CTO, Agrawal was the point person inside Twitter as it created Bluesky, which aimed to create a decentralised standard for social media. Wonderful to watch the amazing success of Indians in the technology world and a good reminder of the opportunity America offers to immigrants. Patrick Collison Microsoft, Adobe, IBM, Palo Alto Networks, and now Twitter run by CEOs who grew up in India.
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