Elon ‘Dogefather’ Musk Reportedly Tells Twitter to Pause Crypto Wallet Efforts

Twitter is refocusing all its efforts on making essentially the most cash within the shortest potential time, in line with some experiences.

The tech weblog Platformer reported late Thursday based mostly on unnamed sources supposedly from inside Twitter that the social media app’s new proprietor Elon Musk has really shaken up the product roadmap. Apparently, Blue group is meant to work by the weekend to come back out with its $8 paid verification system (AKA paid-for blue checkmarks) by Monday.

Though a lot of the report states that these are simply early phases of consideration, Platformer states that Musk additionally needs to pause the long-form writing challenge dubbed “Notes” in addition to a only recently revealed crypto wallet. Both of these options have been long-requested by the running a blog varieties and crypto bros, respectively. The report doesn’t go into why these options are being placed on maintain, but when I needed to guess, it’s as a result of they wouldn’t make Twitter—and Musk—any rapid pocket change to justify the $44 billion escapade to take the corporate personal.

Gizmodo couldn’t independently confirm Platformer’s report, and Twitter didn’t reply to a request for remark. The firm’s press group has turn out to be virtually mum since Musk took over the corporate final week, and it appears to be heading in the identical course as Musk’s different firms SpaceX and Tesla, which now not have PR groups.

Still, Casey Newton, who writes the Platformer weblog, has road cred on the tech beat and has access to internal Twitter slack, which leads credibility to his report. Reports that Twitter is shedding half of its complete employees Friday have precipitated workers to name the day “The Snap” in reference to Thanos’ well-known dusting of half of all sentient life within the film Avengers: Endgame. The firm is already being sued for shedding employees with out giving them the right quantity of discover.

Newton’s report additionally mentions that the e-newsletter firm Revue, which Twitter bought out again at first of 2021, is being shuttered. On Thursday, the New York Times reported Twitter is contemplating including paywalled movies and paid-for direct messages. The firm can also be resurrecting short-form video app Vine, which one can anticipate within the TikTok age shall be full to the brim with advertisements and paid-for content material.

As reported by Coindesk, Dogecoin has been happening a rollercoaster trip of ups and down since Musk started his strategy of initially attempting to purchase his method onto the Twitter board, then ultimately shopping for all of Twitter wholesale. After Musk lastly purchased the platform, DOGE’s worth doubled over the previous week. But with the information of Platformer’s report, the worth of Musk’s beloved Dogecoin fell over 10%, in line with knowledge from CoinMarketCap. Dogecoin has lengthy had a parasitic relationship with the “Dogefather,” and Musk’s public feedback have precipitated the coin’s worth to each spike and flatline.

Musk appears determined to seek out methods for Twitter to earn more money. Even whereas he claims issues like paid verification would now not make customers “the product,” paying $8 for verification would solely reduce down on the variety of advertisements customers see, not the advertisements utterly, at the very least in line with Musk’s previous statements on Twitter.