Square Hires Former Google Director, the First to Join the New Crypto Team
United States-based payments firm Square has announced the hiring of a former director at tech giants Google to join the San Francisco-based financial services company’s new crypto team.
The news appeared via a teaser on Square’s Twitter account on Wednesday, June 12. In its brief announcement, Square said that ex-Google director Steve Lee is now the first member of the company’s new team of crypto talents.
The payments firm has however not specified what role Lee will be expected to play at the company and has not released further details at press time.
Square is the firm behind the popular bitcoin-friendly platform Cash app, with its CEO Jack Dorsey also the chief executive of Twitter.
In March this year, the Cash app maker announced plans to hire top talents from around the world with the intention of forming a crypto team.
CEO Dorsey commented at the time by noting that the new roles at the company would not focus on pushing the company’s commercial interests. Instead, the focus would be on pushing forward what best benefits the entire crypto community.
Lee’s stint as a Google employee saw him work for the Alphabet-owned search engine giant for eight years before exiting in 2015. He has since played an increasingly prominent role as a contributor at Bitcoin Optech.
He has also been quite involved in the investment industry as an angel investor, with some of his key exits being Pinterest, ride-hailing company Lyft, and Yardbarker.
Square was granted the BitLicense in June 2018, getting the approval is required from the New York Department of Financial Services (NYDFS) to offer its services and operations in the state of New York.
The license allowed users of Square’s Cash App in New York to buy bitcoin as well as for merchants to accept crypto payments.
In its first quarter of 2019 earnings results, Square reported that the company’s bitcoin-related revenue had hit $65.5 million. The amounts represent the firm’s highest quarterly bitcoin-related volume.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.