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Tuesday, January 31, 2023

Twitter Plans to Develop a Crypto Wallet

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Twitter Plans to Develop a Crypto Wallet

In recent weeks, Twitter has greatly impacted the crypto market. Until now, this aspect has been positive. Twitter has added to the already bitter crypto winter. The social media network, now helmed by Elon Musk, has ended its efforts to create a cryptocurrency wallet.

Jane Manchung Wong, a researcher, shared new information about Twitter’s apparent plans to launch a crypto wallet before the takeover. Wong is well-known for experimenting with innovative technology and social media features, such as the Twitter edit button available to Twitter Blue members. These plans are currently being challenged.

The social media giant is expected to face huge alterations soon. This includes layoffs of employees. Musk sacked Twitter’s CEO and senior executives last week and has previously expressed his intention to change the platform’s direction.

For the past week, the social media powerhouse’s staff have been worried. As they await the revelation of their destiny tomorrow, these staffs have studied Musk’s road map. This personnel sought to deduce Musk’s and his team’s intentions.

At this point, some of the product roadmaps are well-known. Musk intends to charge for Twitter Blue verification, most likely with a monthly rate of $8. Furthermore, he is considering resurrecting Vine, a short-form video product. Surprisingly, plans to relaunch Vine are taking form.

Paywall on Posts

Musk is considering allowing authors to put video posts behind a paywall, similar to OnlyFans. The New York Times also reported today that the company is considering charging clients to send direct messages to popular users. However, Platformer’s information implies that the platform is considering significant changes. These initiatives will hugely influence many firms, and bitcoin has been factored into the changes. Musk, after all, has been a long-time promoter and fan of crypto.

Some of the upcoming changes are still in the early stages of development, and the unpredictable Musk may change his mind about any of them. However, some of the options being investigated are as follows. The social media company intends to accept crypto as payment. The social media behemoth planned to create a bitcoin wallet to allow payments. Twitter may be building a wallet prototype that handles crypto deposits and withdrawals.

The post Twitter Plans to Develop a Crypto Wallet appeared first on FinanceBrokerage.

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