Cryptocurrency

Elon Musk Plans To Integrate Crypto Payments On Twitter

According to an internal transcript that was leaked.

Cryptocurrency

Elon Musk Plans To Integrate Crypto Payments On Twitter

According to an internal transcript that was leaked.

According to a transcript of an employee meeting shared by Vox, Elon Musk shared that cryptocurrency payments are a “critical area” for Twitter, and also reiterated his concerns over bots and scams that take place on the platform.

The billionaire has been making headlines in the crypto space for some time now, most recently for his offer to purchase Twitter for over $44 billion USD, and the temporary hold of that deal while Musk waited for more data surrounding the bots on the platform.

As for the leaks, Musk added that due to the digital nature of money at this point in time “it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth,” he mentioned that this would be both general currencies and crypto.

Aside from Twitter news, the SpaceX and Tesla CEO is being sued for $258 billion dollars in an alleged Dogecoin pyramid scheme — just weeks after he announced that SpaceX will be accepting the token for payment at its online stores.

The legal complaint was filed in federal court in Manhattan by plaintiff Keith Johnson who accused Musk of racketeering for touting Dogecoin and driving up its price, only to see it crash.

“Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading,” the complaint said, adding “Musk used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure, and amusement.”

The ongoing case is Johnson v. Musk et al, U.S. District Court, Southern District of New York, No. 22-05037. At the time of writing there have been no comments from Musk’s legal team or additional updates on the case. All claims are allegations at this point and Musk is innocent until proven guilty.

In other crypto news, Celsius CEO addresses “difficult” freezing of users crypto assets.

You may also like

The Elon Musk-Twitter Saga Begins a New Chapter
NFT

The Elon Musk-Twitter Saga Begins a New Chapter

As the platform begins to explore NFT integration, potential crypto use cases, and executive restructuring.
Elon Musk Cancels Twitter Deal and May Be Sued for It

Elon Musk Cancels Twitter Deal and May Be Sued for It

According to Twitter’s Chairman, the platform intends to pursue legal action to enforce the merger agreement.
Twitter Sues Elon Musk After Backing Out of $44 Billion USD Acquisition Deal

Twitter Sues Elon Musk After Backing Out of $44 Billion USD Acquisition Deal

Musk alleges that the company refused to provide accurate data on spam bot accounts.
Could Twitter Become a Web3 Native Platform with a16z's Help?
Cryptocurrency

Could Twitter Become a Web3 Native Platform with a16z's Help?

Or does the firm’s interest put the platform at risk of centralized controllers?
More ▾