11/3/2022 | CoinDesk
Twitter Reportedly Halts Work on Crypto Wallet, Driving Dogecoin Down 10%
DOGE had more than doubled in price as Elon Musk completed his Twitter takeover, fueled by optimism he might push crypto-favorable initiatives at the company.
Social media platform Twitter has halted its plans to build a crypto wallet as part of ongoing changes kick-started last week by its new owner, Elon Musk, the online publication Platformer wrote Thursday.
"A recently revealed plan to build a crypto wallet for Twitter appears to be on pause," the article said.
Dogecoin (DOGE) recently sank almost 10% in the aftermath of the news. The popular meme coin's price has consistently reacted to Musk's activities and pronouncements. The billionaire entrepreneur and Tesla CEO has been a major advocate for the token.