Twitter’s Secret Restructuring: What Does This Mean for Dogecoin?
Twitter Inc. has undergone a major corporate restructuring without any official announcement. It merged with X Corp. on April 4, as court documents reveal.
The documents also state that X Corp. is a privately held corporation owned by X Holdings Corp., of which no publicly traded corporation owns 10% or more of the stock.
#BREAKING: Twitter is Dead
A filing at Southern District of Florida shows that Twitter Inc has merged with X Corp and now Twitter no longer exists.
X Corp’s parent company is X Holding Corps.
The new phase of Twitter will be X Corp.
Is this the start of the everything app? pic.twitter.com/vposdXKbGV
— Mario Nawfal (@MarioNawfal) April 11, 2023
X Holdings Corp. is owned by Elon Musk, who filed three holding companies called X Holdings I, II, and III in April 2022 to acquire Twitter for $44 billion.
Reports suggest that Musk is working on creating a new super company that combines Tesla, SpaceX, Neuralink, The Boring Company, and Twitter. The merger between Twitter and X Corp. was filed in Nevada on March 15, 2023.
The impact of this merger on the Twitter app in the short term is uncertain since it has not been officially announced. However, it could be the first step by Elon Musk to turn Twitter into the “everything app” called X, which will focus on payments.
The rumors about a Twitter Coin and the integration of cryptocurrencies such as Dogecoin as a means of payment have been circulating for a long time, and it seems that Musk is currently focusing on fiat payments and a Reddit-like reward system with the Twitter Coin.
Nonetheless, it is likely that Dogecoin and other cryptocurrencies will be integrated into the app soon. For the Dogecoin community, this merger may bring them closer to the day when Musk announces Dogecoin as a payment method inside X.
At present, DOGE’s price is trading at $0.08521 and has increased by 2.8% in the last 24 hours.