Elon Musk to introduce crypto payments to Twitter

Elon Musk to introduce crypto payments to Twitter

Pending the finalization of the $44 billion Twitter takeover bid, Elon Musk shared his plans of introducing crypto payments to the social media platform. The news was first shared at his virtual, all-hands meeting with Twitter employees where he said the integration would “maximize the usefulness of the service.”

Speaking at the first virtual all-hands meeting for Twitter, he explained: “Money is fundamentally digital at this point and has been for a while. It would make sense to integrate payments into Twitter so it’s easy to send money back and forth.”

Musk, however, thinks the online scams might pose a challenge. “There’s definitely an ongoing challenge with Twitter with bot accounts and spam accounts. There’s quite a lot of crypto scams on Twitter,” Musk said. “It’s gotten better, but there’s still a fair bit of that,” he continued. “There are also people where they’re not necessarily bots, but they might be operating. You know, one person’s operating hundreds of accounts and trying to make them look like individuals, but they’re not.”

Although Musk’s deal remains on hold, it is still on track for completion, and Musk’s attendance at the virtual, all-hands meeting suggests a level of commitment.

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.