Elon Musk Addresses Crypto Scams and Payments in Twitter Staff Meeting

By Benzinga
Benzinga
Benzinga
June 18, 2022 Updated: June 18, 2022

Tesla Inc. CEO Elon Musk addressed cryptocurrency scams and payments in his interaction with Twitter Inc. employees Thursday.

What Happened

The entrepreneur said, “There’s quite a lot of crypto scams on Twitter. It’s gotten better, but there’s still a fair bit of that,” according to a transcript of the interaction published by Vox.

Musk said there are people who operate hundreds of accounts trying to make them look like individuals but they’re not.

“In order for people to have trust in Twitter, I think it’s extremely important that there be transparency,” said the Tesla CEO.

Musk also touched on the role of cryptocurrencies like Bitcoin, Ethereum, and Dogecoin in Twitter’s future.

Calling money an “essential form of information,” Musk pointed out that money is fundamentally digital at this point and has been for a while.

“I think it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth.”

Musk said that Twitter could have currency as well as crypto for such transactions, according to Vox.

Why It Matters

Musk labeled news, entertainment, and payments as three critical areas for Twitter, Vox reported.

“My goal would be to maximize the usefulness of the service—the more useful it is, the better. And if one can use it to make convenient payments, that’s an increase in usefulness,” said Musk.

Musk’s interaction with Twitter employees took place ahead of a planned buyout of the social media platform. Employees were able to submit written questions for the event.

By Shivdeep Dhaliwal

© 2022 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

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