Twitter to Offer Crypto Trading in Partnership With eToro
- The new partnership will expand on Twitter’s $Cashtags feature, which currently shows price data for a few chosen assets, and provide a wider range of crypto and stock prices.
- Twitter will also direct users to the investment platform through a “view on eTroro” tab, where they will be able to purchase or sale assets of their choice.
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Social media giant Twitter has partnered with investment platform eToro in order to introduce a new feature that will allow its users to trade crypto and stock, eToro said in a press release on 13 April.
According to the announcement, the new partnership will expand on Twitter’s “$Cashtags” feature — which currently allows users to view real-time trading data for a limited number of assets from TradingView — and provide a “far wider range of stocks, crypto and other assets”. The new feature will be accessible via a “view on eToro” tab, which will direct Twitter users to the eToro platform where they can purchase or sell cryptocurrency and other assets. The CEO and co-founder of eToro, Yoni Assia, said in a statement:
“Twitter has become a crucial part of the retail investing community – it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse. As the social investing network, eToro was built on these very principles – community, knowledge-sharing and better access to financial markets.”
Twitter added pricing data for $Cashtags in December 2022, and since then the feature had seen a widespread adoption on the social media platform. eToro noted in its press release that there were on average 4.7 million $Cashtag searches — such as $BTC, $TSLA, and $SPY — each day, and that the social media platform had recorded 420 million total searches since the start of the year.
This will be the first notable deal Twitter has made since it was acquired by Elon Musk for $44 billion last year. The new partnership also aligns with Musk’s plans to make Twitter a “super app” that offers users access to multiple online services on one platform, which is similar to China’s WeChat app that functions as a gateway to everything a user might need in his day-to-day life.
- Ethereum co-founder Vitalik Buterin has regained his T-Mobile account, which on Saturday was compromised by hackers and used to take over his X account.
- On 9 September, hackers used a SIM-swap attack to take over Buterin’s X account, and siphon close to $700,000 in crypto by promoting a fake NFT giveaway.
Ethereum co-founder and Vitalik Buterin speaks during TechCrunch Disrupt. 18 September, 2017, San Francisco, California.Steve Jennings/Getty Images for TechCrunch
- Although it was launched in beta on 10 August, the platform has already entered the list of top three fee generating crypto projects by earning $1.42 million in 24 hours.
- Friend.tech is a social app integrated with X (formerly Twitter) that allows users to sell and buy tokenized shares of their social network, gaining access to exclusive content and private chat rooms.
- Social trading platforms are an excellent option for those new to the financial markets as they allow users to directly interact with professional and experienced traders.
- These platforms allow users to follow the trades of others, allowing them to leverage the community’s collective wisdom to make informed investment decisions.