Elon Musk Has Stopped Twitter’s Crypto Wallet Plans

Twitter has halted plans to build a crypto wallet due to product roadmap changes following Elon Musk’s acquisition of Twitter.

According to Platformer, since taking over Twitter, Elon Musk has made significant changes in the company’s product roadmap. A recently revealed plan to build a crypto wallet for Twitter also appears to be on hold.

On October 24, technology blogger Jane Manchun Wong revealed that Twitter is developing its own crypto wallet, and this wallet model already supports crypto deposits and withdrawals. Apart from revealing the development of the crypto wallet prototype, the tech reporter did not pass on any other information.

As reports indicate, Twitter’s new owner plans to lay off about 3,700 or half of the social media company’s 7,000 workforce, in an effort to reduce costs.

Once the acquisition is closed, Elon Musk plans to start charging verification fees through Twitter Blue, possibly at $8 a month.

The Vine reboot in focus is exploring the revival of short-form video production Vine; he’s considering allowing creators to put video posts behind paid walls, in an OnlyFans style.

The New York Times also reported today that the company is considering allowing users to pay to send direct messages to famous users.

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