X CEO Teases New Features for Rebranded Twitter; But Will Dogecoin, Other Cryptos Play a Role?

By Aaron Feuerstein September 22, 2023 In Dogecoin, Elon Musk, Twitter, X
Source: Adobe Stock

In a post, X CEO Linda Yaccarino, shared a video about some new features which the platform formerly known as Twitter plans to introduce. Crypto enthusiasts may now wonder if it is time for crypto payments to come to the platform.

The video, which is just 2 minutes long, reiterated the message that X wants to become the global town square. It echoes Tesla CEO and X owner Elon Musk’s statements about X aiming to be the ‘everything app,’ much like China’s all-in-one app WeChat.

Yaccarino’s clip showed how the X management team appears to envision the platform being all sorts of things: from a chat app to visual content, i.e., the Instagram type, to letting people pay for things they potentially buy through the app. It even featured video in all sizes and lengths, comparable to TikTok and YouTube.

In August, X secured a license for currency transmission activities in Rhode Island, following licensing in several other U.S. states. While this would allow X to store, transfer, and trade virtual currency, it did not lead to the immediate introduction of crypto.


And while the video mentioned payments several times, there was no mention of crypto at all.

Musk’s famed affection for Dogecoin

However, Musk is known as an avid crypto supporter; he has often taunted the Dogecoin community with his posts and has been called the Dogefather. Some even recommended him as CEO of the meme coin, to which Musk responded by saying:

Earlier, during a meeting with Israeli Prime Minister Benjamin Netanyahu, Musk explained that X was considering charging all users a small fee. Currently, only premium users are charged, signified by a blue checkmark, but the proposed change would mean anyone using the app would have to pay.

Musk stated this move was aimed to deter bots, which have become an increasing problem on the platform. The X owner said that the small fee might discourage scammers from creating new bots, as they would need to add new payment methods each time.

coinmarket cap

At the time of writing, the price of Dogecoin (DOGE) was down 1.84% according to CoinMarketCap. DOGE is currently trading at US$0.0614 ($0.0957) with a 24-hour trading volume of US$517,960,785 ($807,369,820).

Aaron Feuerstein

Aaron Feuerstein

Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.

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