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Elon Musk sheds light on his future plans for X.
The high-profile tech entrepreneur, Elon Musk, recently made waves by revealing new details about the rebranding of Twitter to “X.”
The newest update highlights the company’s broader ambition to incorporate financial services into the social media platform.
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On July 25th, Musk used X to reveal that his company X Corp took over Twitter with a vision to bolster “freedom of speech” and expedite the development of a comprehensive app, now named “X.”
Users, he hinted, should brace themselves to manage their “entire financial world” on the platform in the coming months.
According to Elon Musk, the original name no longer served the platform’s purpose as it didn’t have text limitations and had expanded its services to other features.
As a symbol of this change, the well-known blue bird of Twitter was officially replaced with the “X” icon on July 24th.
During a recent interview, Musk emphasized the enormous potential of X. If developed successfully, he believes X could hold sway over “half of the global financial system,” encompassing banking and payments among other services.
Not long after the rebranding, eagle-eyed users spotted the DOGE emblem on Musk’s profile. This provoked speculation within the crypto community about a possible integration of Dogecoin for payments on the platform.
Following the wave of speculations, Dogecoin (DOGE) saw a significant price increase and currently retails for $0.0771.
As is typical with any significant change, the rebranding received mixed reactions from crypto Twitter, given Musk’s history of advocating for the memecoin. Some members termed the decision as “insane,” vowing to continue using the old name, while others proposed the retention of the Twitter name and using ‘X’ as a wallet on the platform.
As the rebranded ‘X’ platform awaits the launch of more features, the tech world is keenly watching to see if Elon Musk’s ambitious vision of a comprehensive financial universe can materialize.
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she’s not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.
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