Elon Musk Reveals Crypto Twitter Plans in Leaked Transcript

Elon Musk shared further details of his plans for how crypto could be used on Twitter in a leaked question and answer session with employees of Twitter.

Per a transcript of the meeting released by Vox, the billionaire Tesla CEO expounded on how payments, including crypto, are a “critical area” for Twitter, and highlighted the ongoing issue of crypto scams on the social media platform.

Stating that his goal is “to maximize the usefulness of the service,” Musk said that, “if one can use it to make convenient payments, that’s an increase in usefulness.”

Musk’s suggestion that Twitter integrate payments mirrors his earlier argument that the platform should become a WeChat-style “super app”.

The Chinese social media platform brings together multiple services including ride hailing, food delivery and payments under one umbrella.

In the Q&A, Musk also addressed an ongoing pet peeve: the prevalence of bots and crypto scams on Twitter.

“There’s quite a lot of crypto scams on Twitter,” he said, conceding that, “It’s gotten better, but there’s still a fair bit of that.”

He added that, “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.”

One solution Musk put forward to address the problem of fake accounts on Twitter was verification through payment for its Twitter Blue subscription service.

Musk has previously suggested—possibly in jest—that Twitter Blue subscriptions could be paid in his favorite cryptocurrency, Dogecoin.