- Twitter may be planning to launch its own native coin very soon
- Elon Musk has changed a few things since taking charge and confirmed that many more would come.
Rumors suggest that Elon Musk is planning to launch a new cryptocurrency – Twitter Coin. In a tweet posted by researcher and blogger Jane Manchun Wong, there is an image many now consider a Twitter Coin logo.
In a different tweet, Wong hinted that Twitter could launch a crypto payment and tips feature sometime soon. However, Wong seemed to have deleted her account shortly after her tweets.
Nima Owji, a researcher, tweeted an image about Twitter working on payments, including a picture showing a “Coins” section in a hidden “Tips” setting on the app. Owji also posted a Twitter Coin image.
Tweeted ~2 days ago! 🤞 https://t.co/v6ZWTd3DHQ
— Nima Owji (@nima_owji) December 5, 2022
A few Twitter users have suggested that the Twitter Coin might be an official acceptance of Dogecoin, which would see Twitter integrating the meme coin. However, since neither Elon Musk nor Twitter has made an official comment about the rumored cryptocurrency, it is currently unclear if the possibility of a Twitter Coin means anything for Dogecoin (DOGE).
Long before taking over Twitter, Musk was a strong DOGE advocate, many times pumping the dog-themed meme coin by tweeting his support. In response to the news about a possible Twitter Coin, DOGE pumped nearly 6% and hit $0.111. However, as of press time, DOGE is trading at $0.1061, according to data from CoinMarketCap.
If the Twitter Coin turns out to be a different standalone cryptocurrency, an official launch could be problematic for other Twitter-popular “crypto assets”, including DOGE and Bitcoin (BTC). A Twitter Coin directly means that the Elon Musk-led company would be disinterested in official support for any other cryptocurrencies. However, the images leaked by Owji and Wong suggest that Twitter could embrace more than one crypto instead of sticking exclusively to the Twitter Coin.
Elon Musk Has Other Plans For Twitter
Since taking over the Twitter wheel, Elon Musk has changed a few things and confirmed that many more would come. For instance, the billionaire ‘Chief Twit’ has publicly revealed that Twitter should make more money from subscriptions. However, these plans could involve making changes to Twitter that may directly violate Google and Apple’s app store policy. In a tweet posted last month, Musk said:
“App store fees are obviously too high due to the iOS/Android duopoly. It is a hidden 30% tax on the Internet.”
Musk is referring to the up-to-30% cut both platforms collect from all in-app purchases. This is particularly unsavory to Musk, especially as he recently launched Twitter Blue subscriptions for $8 per month. Tensions may already be brewing, as Apple’s App Store head Phil Schiller deleted his Twitter account.
However, Musk seems unfazed and might be ready to war with both tech giants. The businessman has hinted at designing a new smartphone and operating system should the fight with the “iOS/Android duopoly” worsen. Responding to an encouraging tweet from video podcast host Liz Wheeler who suggested that Apple & Google might take Twitter off their respective app stores, Musk said he will make an alternative phone “if there is no other choice.”