Twitter is reportedly working on a wallet that will allow the deposit and withdrawal of cryptocurrencies.
Twitter’s crypto wallet may indeed be in the works.
Jane Manchun Wong, a blogger known for disclosing early tech developments, shared her findings today that Twitter is working on its own crypto wallet.
“Twitter is working on a ‘wallet prototype’ that supports ‘crypto deposit and withdrawal,’” she tweeted.
Twitter has not publicly announced any such product, and it is unclear where Wong obtained the information. However, statements from Wong elsewhere suggest that she finds most of her information in publicly available code.
Twitter has introduced various other cryptocurrency-related features over the past year. In September 2021, it introduced cryptocurrency tipping. In November 2021, it began to integrate web3 dApps. This January, it began to allow users to add NFTs as profile pictures.
Additionally, Elon Musk briefly considered using crypto micropayments to limit spam transactions during his ongoing acquisition of Twitter. More recent developments suggest this may no longer be under consideration.
Today’s news also comes shortly after news of Twitter’s decentralized social media platform BlueSky. The project announced the launch of a beta app last Tuesday.
Though BlueSky may appeal to the crypto community’s values around decentralization, BlueSky lead Jay Graber has emphasized that BlueSky will not have crypto features: “I’m confident in our decision to not put social media content on a blockchain,” she wrote on October 20.
As such, it seems that today’s report is likely related to Twitter’s current crypto features—not to ongoing developments from Elon Musk or BlueSky.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other digital assets.
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