Social Media

Social Media Giant Twitter to launch its own Crypto Wallet

October 25, 2022, a front-end software developer named Jane Manchun Wong, announced on Twitter that the company was, “working on a “wallet prototype” that supports “crypto deposit and withdrawal”

It’s worth noting that other social media platforms like Facebook and Reddit have previously ventured into the crypto space too. Digital wallets have caught the attention of various social media platforms in the crypto space.

In 2021, Twitter announced its cryptocurrency team would become a “center for excellence for all things blockchain and Web3." Then, by mid-February, Twitter-native cryptocurrency tipping also became available for Ethereum users.

Twitter users were also able to showcase their NFTs in their profile pictures, and it was also possible for readers to tip content creators with Bitcoin. 

On Oct. 27, 2022, Elon Musk paid nearly $44 billion to acquire the social networking platform. Furthermore, Binance disclosed that it was one of the largest contributors of $500 million to the back financing of the social media platform acquisition. This series of events turned out to be promising in the crypto space. What is the future evolution of social platforms and crypto integration? Who will influence who?  

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