Twitter halts its crypto wallet project in disaster

Between hope and harsh reality – Twitter could suspend its plan to develop a crypto wallet, a week after Elon Musk got his hands on the social network.

Crypto wallet on Twitter: a project killed in the bud

In his article of October 3, the founder of the media platform, Casey Newton, indicated that Twitter could pause « a plan revealed recently ”, concerning the development of a crypto wallet for the social network.

However, this information should be taken with a grain of salt. As Casey Newton points out, Elon Musk could change your mind about thisas on all the other changes planned for Twitter, which were shared with Platformer and which the medium relayed.

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A slap for Dogecoin after Green October

The markets did not wait for an official confirmation to react. The Dogecoin recorded a fall of nearly 10% after the news got out. The cryptocurrency is experiencing a sharp decline, after its price doubled during the month of October, since Elon Musk stormed the premises of Twitter.

Will the Dogefather drop his favorite canine token?

At the time of writing, the news does not seem to have had any negative impacts on major cryptocurrencies, like Bitcoin (BTC) and Ethereum (ETH) which are even registering gains on a daily basis.

Vine’s comeback comes before cryptocurrencies

The founder of Tesla, who is used to surprising the general public, could thus disappoint people, who hoped that the billionaire will launch or prioritize initiatives favorable to the adoption of cryptocurrencies, within Twitter.

The contribution of half a billion dollars from Binance in the purchase of the social network, with a Changpeng Zhao who said he was ready to join its board of directors, would therefore not necessarily mean, for all that, that promoting cryptocurrencies is on Twitter’s list of priority projects.

At the moment, Elon Musk seems to be much more interested when restarting VineTwitter’s mobile app for posting, creating and posting six-second video clips.

Elon Musk would therefore not have waited long to confirm the words of Vitalik Buterin. The Ethereum co-founder insisted that the future of the social network is uncertain in the hands of the Tesla founder. Elon Musk’s roadmap for Twitter may be out of step with the “logical” predictions of the crypto community.

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