Several cryptocurrencies branded X surged in value at the
beginning of the week after the social media platform Twitter changed its
iconic blue bird logo to an X symbol. Twitter’s owner, Elon Musk, tweeted about
the changes on the weekend.
In April, Musk integrated Twitter into a shell company dubbed X, Corporation, causing speculations among the users of the
social media platform. Before buying Twitter, the tech billionaire said the
platform would enable him to create an app for a wide range of services dubbed ‘everything app’.
Commenting about the
rebranding, Twitter’s Chief Executive Officer, Linda Yaccarino, explained:
“X is the future state of unlimited interactivity, centered in audio,
video, messaging, payments or banking, to create a global marketplace for
ideas, goods, services, and opportunities. Powered by AI, X connects us all in
ways we are just beginning to imagine.”
Additionally, the
development on Twitter has led to the emergence of new cryptocurrencies