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Axie Infinity’s co-founder proposed the idea of retaining Twitter but integrating a crypto wallet called “X” for spending and tipping creators.

Twitter is planning a major rebrand that involves replacing its well-known blue bird logo with an “X.” This change has generated mixed reactions from both regular Twitter users and the crypto community.

Elon Musk tweeted on July 23, suggesting that Twitter might undergo a rebranding to become “X,” signaling its transition towards becoming an “everything app.” The proposed changes include a potential shift to a black color scheme, the removal of Twitter’s blue bird logo, and adopting the name “X,” as indicated in Musk’s tweets and a poll.

The website used to access Twitter might also change, as X.com, the online address for Musk’s previous financial services startup, now redirects to Twitter.

Until recently, x.com was a simple website with just the letter “x” displayed, according to the Wayback Machine. Before that, it redirected to Musk’s Boring Company website. In the early 2000s, the URL pointed to PayPal and also displayed eBay’s corporate site for a period.

In March, Musk set up X Corp. as Twitter’s parent company, with the goal of creating a WeChat-like app.

Crypto Twitter Criticizes “Insane” Rebrand Decision

Proposed Twitter rebranding has received mixed reactions from Crypto Twitter users. Twitter has been a significant platform for the crypto community, generating over 1 billion crypto-related tweets between 2020 and 2022. Trust Machines marketing chief, Dan Held, called Twitter “iconic” and criticized Musk’s decision to rebrand as “insane.”

Some individuals have been resistant to the proposed X rebrand. Crypto blogger Tiffany Fong stated she would continue to call it “Twitter,” a sentiment that podcast host Peter McCormack also shared.

Mixed Reactions to Musk’s X Rebranding Proposal

However, there were also some supporters of the idea, noting that Musk’s vision has been to create a super-app since he left PayPal. They referenced Musk’s October tweet, suggesting that his purchase of Twitter was a step towards realizing his vision of creating X.

Others have been sharing their ideas for Musk’s X rebrand. Jeff “Jiho” Zirlin, the co-founder of Axie Infinity, proposed keeping the Twitter name while incorporating a crypto wallet called X, enabling users to spend and tip platform creators.

Twitter’s Future “X” App Hints and AI Integration

Twitter CEO Linda Yaccarino hinted about the upcoming “X” app on July 23, mentioning “unlimited interactivity,” support for various media formats, and payments and banking features, which align with Musk’s interest in cryptocurrencies. She also revealed the app’s integration with artificial intelligence, following Musk’s statement on using AI to detect public opinion manipulation.

The rebranding decision coincides with Musk’s acknowledgment on July 15 that Twitter’s advertising revenue had declined by 50% and the company was burdened with significant debt. The exact timeframe of the revenue drop is unknown.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#BTC #square #TwitterX #BitcoinFutures
“I do think it hits that number and goes beyond,” said the Twitter co-founder on his million-dollar Bitcoin prediction.
Twitter co-founder Jack Dorsey says the price of Bitcoin could reach a price of at least $1 million by the year 2030, adding that its value could grow even further from that point onward.
Speaking in a May 9 interview with journalist Mike Solana on Pirate Wires, Dorsey offered a bullish outlook for the long-term price action of Bitcoin

tickers down
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, as well as providing further context behind his abrupt departure from the board of BlueSky — a decentralized Twitter alternative he helped launch in 2019.
Dorsey told Solana he believes Bitcoin’s price could reach “at least a million” by 2030, adding that it most likely “hits that number and goes beyond.”
Dorsey — now the head of the financial services firm Block — noted that Bitcoin’s price isn’t actually the most interesting aspect of Bitcoin and instead pointed to the collaborative nature of the ecosystem and the way it incentivizes collective efforts to enhance the network.
“The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves — everyone who puts any effort in to make it better — is making the entire ecosystem better, which makes the price go up.”
“It’s a fascinating ecosystem and movement, more than anything else,” he said before adding, “It taught me a lot.”
Dorsey raised eyebrows on May 6 when it was confirmed he would be departing the board of Bluesky, a decentralized social network he helped start as an alternative to Twitter.
He said that Bluesky was “literally repeating all the mistakes [Twitter] made,” adding that it is not a protocol that could be deemed truly decentralized. “It’s another app,” he said.

Dorsey originally envisioned Bluesky as an open-source protocol that Twitter and other social media platforms could build on top of, separating the protocol layer from the application layer to reduce censorship risks.

However, he said the firm started behaving more like a traditional company that began pushing for moderation tools.

“Everything we wanted around decentralization, everything we wanted in terms of an open-source protocol, suddenly became a company with VCs and a board. That’s not what I wanted; that’s not what I intended to help create.”
Dorsey, who has since deleted his Bluesky account, said the platform Nostr — an anonymous, open protocol with no company or centralized control — aligned more with his goals of censorship resistance.
In a note to shareholders on May 2, Dorsey said that his fintech firm Block will flip 10% of its gross profit from Bitcoin-related products back into buying more BTC every month.
On May 1, it was reported that United States federal prosecutors were probing Block after documents alleged compliance violations at the firm’s payment divisions, Square and Cash App.

Dogecoin investors are feeling uneasy as Elon Musk faces another round of testimony. Following news that Musk, leader of the X platform, must testify again in a regulatory investigation related to his purchase of Twitter.
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Dogecoin’s value has taken a significant hit, dropping by 4.5%. This situation introduces uncertainty for Dogecoin, a cryptocurrency known for being influenced by Musk’s social media posts.

Dogecoin Faces Technical Challenges Amid Regulatory Concerns
Dogecoin has encountered resistance at the 50-day Exponential Moving Average (EMA), signaling a struggle for bulls to push the price higher. This level currently acts as a barrier for potential upward movements. Additionally, trading volume has been on a declining trend, indicating reduced interest or a consolidation phase, which could lead to further price fluctuations.

DOGE/USDT Chart by TradingView
Technical analysis highlights the 200-day EMA as the next critical support level for Dogecoin. If the price descends to this level, strong buying interest may emerge, potentially halting the decline and stabilizing the price.
Investor Concerns and Regulatory Implications
Investors are primarily concerned about the potential legal consequences of Elon Musk’s testimony. If Dogecoin is deemed a security during the proceedings, it could face stringent regulations, impacting its market performance and investor sentiment.
If Dogecoin maintains its position above the 200-day EMA and mitigates negative sentiment from Musk’s legal situation, it could experience a rebound. However, failing to hold the 200-day EMA support may lead to further declines toward lower support levels around $0.065.
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This situation underscores the significant influence of regulatory scrutiny on crypto assets, particularly those like Dogecoin, which have gained prominence partly through celebrity endorsements.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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