Twitter Users to Trade Crypto Through Etoro – Etoro, an investment firm based in Israel, took to Twitter on Thursday to declare its new partnership with the social media platform, which will provide market charts for various assets and the option to trade stocks and cryptocurrencies.
Launched in December 2022, Twitter’s ‘$Cashtags’ feature already provides real-time data on some index funds and shares. Etoro told CNBC that thanks to the new partnership, consumers will have access to information about a wider variety of financial instruments.
To access the data, users must search for a ticker symbol and precede it with a dollar sign. This will cause the app to display price information from Tradingview, the market data provider. A newly introduced ‘view on Etoro’ button enables users to trade the assets via the website.
In October 2022, entrepreneur Elon Musk purchased Twitter for $44 billion. Since the acquisition, the new owner and CEO have implemented a series of reorganizations, including the layoff of thousands of employees and the introduction of a subscription-based plan for verified users.
The deal with Etoro is a noteworthy commercial development in the most recent chapter of Twitter’s history. Advertisers were alarmed by a number of Musk’s actions, including changes to content moderation standards. This week, the investor asserted that “almost all” have returned.
“We are very excited about the intersection of finance and social media,” Etoro CEO Yoni Assia said in an interview with CNBC. “We believe this partnership will enable us to reach those new audiences and connect better the brands of Twitter and Etoro,” added the head of the online brokerage.
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Assia noted that Etoro, which was founded in Tel Aviv in 2007, now has 32 million registered users across Europe, Asia, and the United States. A function that allows investors to replicate the trading strategies of other users is one of its most popular features.
One of Elon Musk’s objectives has been to turn Twitter into a “super app,” offering a wide range of services, from instant messaging to banking, the report noted. Last month he told a Morgan Stanley conference that he wants Twitter to become “the biggest financial institution in the world.”