Twitter Pauses Work on Crypto Wallet, Dogecoin Plummets 10%

05/12/2022
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The Crypto community now has to wait a little bit longer for the Twitter crypto wallet, as recent reports reveal that the social media platform has allegedly paused its work on the same.

Since “Twitter Complaint Hotline Operator” Elon Musk took over Twitter, things have been a little hectic both for the platform and the employees, with reports even coming that the staff is apparently sleeping in the office to meet Musk’s deadlines.

Musk intends to start charging through Twitter Blue for verification, probably at an $8 monthly rate. He is also looking at bringing back the short-form video platform Vine and contemplating enabling creators to put video posts behind a paywall.

Meanwhile, a few days back, Dogecoin price spiked following Elon Musk’s Twitter acquisition, but the happiness didn’t last that long following reports of the pause on the crypto wallet launch.

Dogecoin plummeted 10% in the past few hours, now trading at a price of $0.1189. But the community is still hopeful as Elon Musk is a huge supporter of the meme token.

Elon Musk was seen in a video discussing how to improve Twitter’s content and introduce a Dogecoin payment system.

“I’ll pay 10 cents for this article. I’ll pay one Dogecoin,” Musk noted in the video.

The rumored pause in the wallet’s development is reported at the same time as Twitter is allegedly letting go of approximately half of its workforce. Bloomberg reports that Musk’s layoffs might begin as soon as this Friday.

Compiled by Coinbold

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