As part of ongoing reforms initiated last week by Elon Musk, Twitter has put an end to its intentions to develop a cryptocurrency wallet.
Following the announcement, Dogecoin (DOGE) just saw around a 10% decline. The price of the well-known meme currency has regularly responded to Musk’s actions and statements.
(Source: CoinMarketCap)
The CEO of Tesla and the multi-billionaire entrepreneur has been strong supporter of the coin. DOGE had increased by more than twofold over the previous week when Musk finalized the transaction. As such, reaching its highest price since April in hopes that he may promote cryptocurrency-friendly activities at Twitter.
According to a report by Bloomberg on Thursday citing unidentified sources, the company is anticipated to let go of almost half its workforce.
Musk fired Twitter’s CEO and other staff last week, which he has previously been open about wanting to shift Twitter’s course.
CoinDesk requested comment on Twitter’s intentions for the cryptocurrency wallet; however, there is no answer still available.