As Twitter reportedly ends work on a crypto wallet, dogecoin drops about 10%. $DOGE had doubled this week on optimism elonmusk would do crypto-friendly things at Twitter. JPRubin23 reports
to Musk's activities and pronouncements. The billionaire entrepreneur and Tesla CEO has been a major advocate for the token.
DOGE had more than doubled over the past week as Musk completed the deal, hitting the highest price since April, amid optimism he might push crypto-favorable initiatives at Twitter. The company is expected to lay off about half its employees, according to a Bloomberg report on Thursday, citing unnamed sources. Last week, Musk ousted Twitter's CEO and other senior executives, and in the past has made no secret of his intent to change Twitter's direction.
At the time of publication, Twitter had not responded to a CoinDesk request for comment about its plans for the crypto wallet.Updates with latest DOGE trading.
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