Twitter reportedly will not launch a cryptocurrency wallet, causing the concept coin MASK to drop by 14% at one point.

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Twitter reportedly will not launch a cryptocurrency wallet, causing the concept coin MASK to drop by 14% at one point.

A source from the media outlet Platformer revealed that Twitter's cryptocurrency wallet development project has been suspended. According to on-chain data analysis account @lookonchain, this move is believed to be one of the reasons for the 14% drop in the MASK token, which was riding the trend of Twitter's cryptocurrency wallet. @lookonchain mentioned that a wallet purchased MASK on three occasions yesterday has sold off all holdings a few hours ago.

Elon Musk's Ever-changing Product Plans

Elon Musk's current known potential plans include:

  • Charging a verification fee for Twitter Blue, at $8 per month
  • Exploring the comeback of short video product Vine
  • Setting up a paywall for creators
  • Allowing users to pay to message notable accounts

According to Platformer, the Twitter team has been asked to complete the coding of the payment verification code by this Saturday and activate it next Monday. The "Super Follows" feature that allows creators to have paid posts will be reactivated on 11/11. Plans for the long-form writing product Notes and the cryptocurrency wallet project have also been put on hold.