Twitter stops work on creating a crypto wallet

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The new owner, Elon Musk, plans to temporarily postpone or completely close the development of some of the projects announced by the previous administration.

Previously, Twitter has repeatedly stated its intention to support payments in cryptocurrency and create its own cryptocurrency wallet. Last year, the company introduced a feature that allows users to tip content creators using bitcoin and ether. While Jack Dorsey remained CEO, the company implemented several features to allow users to link crypto wallets to their profiles, as well as display non-fungible tokens (NFTs) as avatars.

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Now the Twitter Notes product, which allowed writing long texts on the platform, has also been put on hold for an indefinite period. Also, the Revue newsletter platform will be closed soon. While the new team has not officially confirmed their intentions to develop their own cryptocurrency wallet, sources close to Twitter have revealed that the project appears to be on hold as well.

But on a wave of optimism about Musk completing the deal and the hope that this will open up crypto-friendly initiatives for the use of the Dogecoin meme coin on Twitter, the price of DOGE has more than doubled over the past week. But amid the emergence of information about Musk’s reserved attitude towards the development of projects that support cryptocurrency payments on the network, DOGE fell in price by 24%, from $0.155 to $0.116.

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The other day, the CEO of the FTX cryptocurrency exchange, Sam Bankman-Fried, said that his views on the development of the social network Twitter at this stage do not coincide with the views of Elon Musk, and it is not clear to him how the social network will implement blockchain and cryptocurrencies. into your business model.

Source: Bits

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