Twitter Reportedly Working On A Crypto Wallet For Users

Social media giant Twitter is reportedly working on a Twitter wallet that is capable of making deposits, as well as withdrawals, according to blogger Jane Manchun Wong.

Wong said the social media platform was planning to debut a crypto wallet and was working on a "wallet prototype" that supports "crypto deposit and withdrawal."

While it remains unclear from where the blogger obtained the information, Wong is known for obtaining crucial intelligence from public code. The blogger uses reverse engineering to access intel on big tech firms like Meta and others. She had earlier revealed details on what these tech firms were working on.

Twitter is yet to reveal anything regarding this. The International Business Times could not verify the details independently.

Over the past year, Twitter has gone pro-crypto rapidly and introduced features like tipping. Using the feature, which was introduced last September, tips could be paid in cryptocurrencies to any account on the social media platform through Cash App and other applications. The platform also began the integration of Web3 applications in November.

A team was formed under Tess Rinearson, a council member of the Interchain Foundation, to focus on blockchain and cryptocurrency research for the social networking website and to collaborate and conduct research on crypto developments, blockchain technology and decentralized applications.

Tesla CEO Elon Musk is currently in the middle of a controversial deal to buy the microblogging platform. The billionaire is getting support from the world's biggest cryptocurrency exchange Binance and Sequoia Capital, an American venture capital firm.

Binance has plans to contribute $500 million to the deal while the VC firm will spend around $800 million, according to the people familiar with the matter.