Musk is reportedly asking Twitter to pause the crypto wallet
Twitter is refocusing all efforts on making the most money possible in the shortest possible time, according to some reports.
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The technology blog Platforms reported late Thursday based on unnamed sources allegedly from Twitter that the social media app’s new owner Elon Musk has really shaken up the product’s roadmap. Apparently the Blue team will be working through the weekend to come up with theirs $8 paid verification system (AKA paid for blue check) by Monday.
Although much of the report says this is only early stages of consideration, Platformer states that Musk also wants to pause long-form writing project called “Notes” as well as a recently revealed one crypto wallet. Both of these features have been requested by the blogging types and crypto bros respectively. The report doesn’t go into why these features are being put on hold, but if I had to guess, it’s because they wouldn’t make Twitter — and Musk — any immediate pocket change to justify $44 billion escapade to take the company private.
Gizmodo could not independently confirm Platformer’s report, and Twitter did not respond to a request for comment. The company’s press team has practically gone mum since Musk took over the company last week, and it seems to be going in the same direction as Musk’s other companies SpaceX and Tesla, which no longer have PR teams.
Still, Casey Newton, who writes the Platformer blog, has street cred on the tech beat and have access to internal Twitter slack, which lends credibility to his report. Report that Twitter is lay off half of the total staff Friday has prompted employees to call the day “The Snap” in reference to Thanos’ famous dusting of half of all sentient life in the film Avengers: Endgame. The company is already sued to lay off employees without giving them proper notice.
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Newton’s report also mentions that the Revue newsletter company, like Twitter bought out back in early 2021, will be closed. On Thursday, the New York Times reported Twitter is considering adding paywall videos and paid instant messages. The company is also watching reviving short-form video app Vineas one would expect in the age of TikTok to be full to the brim with ads and paid content.
As reported by CoindeskDogecoin has been on a rollercoaster of ups and downs since Musk began his process of first trying to buy into the Twitter board, then buying the entire Twitter wholesaler. After Musk finally bought the platform, DOGE’s price doubled in the past week. But with the news of Platformer’s report, the price of Musk’s beloved Dogecoin fell over 10%, according to data from CoinMarketCap. Dogecoin has long had a parasitic relationship with the “Dogefather”, and Musk’s public comments have caused the coin’s price to spike and flat line.
Musk seems desperate to find ways for Twitter to make more money. Although he claims that things like paid verification would no longer turn users into “the product,” paying $8 for verification would only cut down on the number of ads users see, not the ads entirely, at least according to Musk’s previous statements on Twitter.
