Twitter may have stopped working on Crypto Wallet: Report
Twitter, under the leadership of its new billionaire CEO Elon Musk, is undergoing a number of operational changes. Amid the ongoing changes, the microblogging site has reportedly halted development of its crypto wallet. The crypto community waiting for Twitter to try Dogecoin payments under Musk did not meet the news with joy. Shortly after the news started making the rounds, DOGE fell 10 percent, after doubling in the previous seven days.
Jane Manchun Wong, a popular blogger and reverse engineer, revealed about Twitter’s crypto wallet operation on October 25.
As a Platformer news publication, i development in crypto wallet is temporarily suspended for now.
The news comes after Musk fired several employees from the Twitter team.
In total, Twitter is expected to lay off about 3,700 employees as part of the cost-cutting measure.
Despite the corporate turmoil, several crypto majors including Binance, Sequoia Capital Fund, and Fidelity Management are betting on Twitter under Musk to expand Web3.
Musk has expressed his inclination to combine Twitter services with crypto payments before. Back in April, for example, Tesla and the CEO of SpaceX had included his favorite cryptocurrency, Dogecoin, as a payment method for users who want to access Twitter Blue services.
Back in May, Twitter founder and former CEO Jack Dorsey had also called Bitcoin ‘the open standard for global money transfers’.
Currently, Twitter has not officially confirmed or denied its plans to develop or halt progress on a dedicated crypto wallet.
