Rumours are circling on social media that new Twitter CEO and crypto proponent Elon Musk is potentially creating a native coin for the social media platform, in what could be the latest revival attempt at virtual currencies amidst a cold crypto winter.
Musk, who has long been a crypto enthusiast, says it’s a “no brainer” for social media sites such as Twitter to offer payment options in both fiat and digital currencies. “WeChat has a lot of functionality that Twitter should have. It’s kind of a no brainer for Twitter to have payments, both fiat currency and crypto, and to make that easy and simple for people to use,” the Twitter CEO recently told Twitter Spaces host Mario Nawfal.
Indeed, Musk’s commentary comes in light of a recent finding by researcher Jane Manchun Wong, who, after extracting code from Twitter’s Web app, discovered an image depicting what appears to be a “Twitter Coin,” as well as integration for a crypto “tipping” feature. However, Wong’s account has since been deleted along with the tweet describing the potential development.
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Information for this briefing was found via The Block, Twitter, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
