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No, Elon Musk Will Not Allow Crypto or Stock Trading on Twitter

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Fri, 4/08/2023 - 15:05
No, Elon Musk Will Not Allow Crypto or Stock Trading on Twitter
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Rumor is being spread on Twitter (X app) that Elon Musk’s team is working on a tool that would allow users to begin trading stocks and be implemented on it.

This news is being spread by many accounts. However, the owner Elon Musk has commented, clearly refuting this rumor. He stated that no work on it is being done at the moment.

When a few Twitter users asked if a crypto trading tool is going to be implemented in the future, Musk, left those comments unanswered.

Another user assumed that turning Twitter into a centralized crypto exchange is an outdated method and “ A new model is needed beyond peer to peer kind”.

Prominent crypto-focused account Crypto Rand stated that “this guy is already sniffing around!!!”, adding a photo of the SEC chairman Gary Gensler.

Community still awaiting DOGE payments on Twitter

However, the community still expects Musk to introduce crypto payments on Twitter, hoping them to be in DOGE – Elon Musk’s favorite digital currency focused on memes and the biggest one in terms of market cap among meme coins.

In April this year, Musk changed the logo of Twitter (the famous blue bird) to a Dogecoin mascot, which pushed the price of DOGE up roughly 10%. However, the old logo was put back in about a week’s time.

Related

The Dogefather goes live

Earlier this week, Elon Musk teased an upcoming feature for making live videos and streams on Twitter. Today, he tested it publicly, going live from Twitter office. An hour later, he tweeted that “Live video now works reasonably well” and wrote that in order to start, one needs just to tap the button that “looks like a camera”, when one is making a post.

A Twitter user commented, saying “The Dogefather is live!”

That was a quote of Musk's tweet in which he referred to himself in this way, paraphrasing the title of the classic movie "The Godfather". After that tweet and Elon Musk's debut on the Saturday Night Live show, DOGE surged to an all-time high of $0.7376 on May 8, 2021. Currently, Dogecoin is trading nearly 90% below that level.

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