Twitter May Have Stopped Working on Crypto Wallet: Report

Jane Manchun Wong, the famed tech blogger and reverse engineer, had revealed on October 25 about Twitter's development to create a crypto wallet.

Twitter May Have Stopped Working on Crypto Wallet: Report

Photo Credit: Reuters

Elon Musk is expected to fire close to close to 3,700 Twitter employees as a cost cutting measure

  • Twitter is undergoing a bunch of changes under new CEO Elon Musk
  • The company has halted work on other features like ‘Notes’ as well
  • Crypto players are betting on Twitter for Web3 expansion

Twitter, under the leadership of its new billionaire chief Elon Musk, is undergoing a plethora of operational changes. Amid the ongoing changes, the microblogging site has reportedly halted work on developing its crypto wallet. The crypto community that expects Twitter to experiment with Dogecoin payments under Musk has not met with the news with excitement. Soon after the news began making the rounds, DOGE sank by ten percent, after growing by more than double over in the last seven days.

Jane Manchun Wong, the famed tech blogger and reverse engineer, had revealed about Twitter working on a crypto wallet back on October 25.

As per news publication Platformer, the development on crypto wallet has been paused for the time being.

The news comes in the background of Musk firing several employees from the Twitter team.

In total, Twitter is expected to fire close to close to 3,700 employees as a cost cutting measure.

Despite the corporate upheaval, several crypto majors including Binance, Sequoia Capital Fund, and Fidelity Management are betting on Twitter under Musk for the expansion of Web3.

Musk has expressed his inclination towards integrating Twitter services with crypto payments previously. Back in April, for instance, the Tesla and SpaceX CEO had pitched his favourite cryptocurrency, Dogecoin, as a payment option for users seeking to avail Twitter Blue services.

Back in May, Twitter co-founder and former CEO Jack Dorsey had also called Bitcoin the ‘open standard for global money transmission'.

For now, Twitter has not officially confirmed or denied its plans on developing or halting progress on a dedicated crypto wallet.

Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Radhika Parashar
Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at More
Samsung Galaxy S23 Series Tipped to Feature Light Mode for Better Battery Life
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News


Follow Us


© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »