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Elon Musk Engages Crypto Community in Discussion: Details

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Fri, 20/10/2023 - 14:50
Elon Musk Engages Crypto Community in Discussion: Details
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Tech tycoon Elon Musk, owner of X app, CEO of Tesla, SpaceX and other innovative tech companies, has announced a new update on the X platform, prompting an immediate response from the crypto community and those users who are not part of any crypto army.

Soon, according to Musk, there will be two new types of premium subscriptions on the X app that various types of users will be able to benefit from. Overall, he continues to show an excellent rapport with the global crypto community.

Crypto community reacts to new premium subscription tiers

Musk spread the word about introducing two new tiers of X premium subscriptions soon. One of them, he went into detail, is cheaper, as it includes all the necessary features but there is no reduction in advertisements shown to its users.

The second subscription tier will be more pricey, again, with all features included but no advertisements. This seems to be another solution that Musk came up with in order to reduce the platform's dependence on advertisers – by taking on a popular model. It is used by YouTube, for example, which offers YouTube Premium without the obligation to see advertisements every now and then.

Many crypto enthusiasts responded to Musk's tweet. Among them was the prominent XRP-themed account @XRPcryptowolf (he asked when will it be possible to pay for X subscriptions with XRP), SafePal crypto wallet, influencer David Gokhshtein (he asked if Musk intends to launch a new algorithm on X) and others.

A lot of users posted memes in response to Musk's tweet about the subscriptions or asked when bots will be eliminated on the app.

XRP fan boasts new Ripple win against SEC to Musk

The aforementioned user @XRPcryptowolf responded to another tweet by Musk, stressing the recent victory of Ripple in court as the SEC decided to drop the charges against Ripple chief executive Brad Garlinghouse and a company's cofounder, Chris Larsen.

The XRP fan called this "yesterday's news."

However, some crypto experts believe that the SEC had chosen to drop the charges deliberately so it could make a faster appeal against Ripple's recent victory, when the judge declared that XRP sales of Ripple on the secondary market were not to be qualified as securities.

Related
Elon Musk Eyes Withdrawing X From EU, Will This Impact Crypto Market?

Musk considers blocking Twitter in Europe

As reported by U.Today earlier, Elon Musk is now eyeing an opportunity to withdraw Twitter from the European market. The reason for this is the recently adopted regulation package in the EU called the Digital Services Act (DSA).

It requires social media platforms to moderate and often remove content that could be considered rude, misleading or harmful – contrary to everything for which Musk has recently criticized ChatGPT, calling it "woke" since its creator, Open AI, programmed it not to offend users on any basis, whether religious, political, on gender issues, etc.

Mark Zuckerberg, who recently launched a clone of Twitter called Threads, already removed his new app from Europe for the same regulatory reason.

Upon acquiring Twitter last year, Musk quickly closed its international offices in many global capitals as part of his cost reduction strategy. Now, X may simply leave the EU, forcing users to use it via VPN. Still, Twitter is important for the global crypto community and for the European one as well.

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