Twitter To Halt The Making Of Its Own Crypto Wallet.
Since billionaire Elon Musk’s acquisition of the giant social media platform, many were expecting some massive moves to be made in terms of crypto adoption on the platform, however it seems that those plans may have been put on hold for now.
Crypto Wallet Halt
According to the online publication Platformer, Twitter has reportedly halted all its plans on building its own new crypto wallet as part of the ongoing changes as a result of Musk’s acquisition last week.
“A recently revealed plan to build a crypto wallet for Twitter appears to be on pause,” the Platformer article wrote.
[DB] Twitter Pauses Crypto Wallet Plans: Platformer
— db (@tier10k) November 3, 2022
Aside from the halting of its crypto wallet plans, other changes that Musk has commenced since his Twitter acquisition include plans to lay off about half its employees, according to Bloomberg.
Effect On DOGE
With Musk being known to be a massive supporter of the memcoin DogeCoin, the cryptocurrency has been seeing its price surge by more than 100% this past week, with many excitedly expecting Musk to implement DOGE payments for Twitter sometime in the future.
Despite this however, news that Twitter has paused its wallet plans seems to have caused some bearishness in the community as DOGE sank by almost 10% within the last 24 hours.
At the time of writing, DOGE is currently trading at a price of $0.1188.