This episode of Markets Daily is sponsored by Cracken.

It's Friday, July 28th, 2023, and this is Markets Daily from CoinDask.

George Kulut is here again with your weekend story.

On today's show, we're taking a look at Twitter, specifically crypto-Twitter.

And just a reminder, CoinDesk is a new source and does not provide financial advice.

I will be reading an opinion piece by CoinDesk's chief insights columnist David Z. Morris, titled, Twitter is dead. Long live crypto Twitter?

I spent a few months this morning exploring my Twitter archive.

I'm reflecting on what the social media site has meant for the world of cryptocurrency

and contemplating what the possible end of crypto Twitter means for the future.

It's time for that reflection because Twitter, as we know it, is now officially gone, with the sudden rebrand this week toX.com.

That followed months of palpable decline in this site's vitality, thanks to an extortionate

subscription drive meant to replace cratering advertising revenue. Now, Elon Musk seems to have lost all interest in the actual social media

product, announcing that Twitter would become the core of an ill-defined everything app.

Explaining these impulsive moves is beyond my scope here, but there is one compelling thesis

I would invite you to contemplate. This appears to have been my first tweet about Bitcoin,

sent on April 4, 2013,

and it says, Retweet at M. Widener, detailed article on the Bitcoin phenomenon, volume of tweets

about Bitcoin correlate with its value, and then includes a medium link. For the youths,

this was before retweets were a hard-coded feature. So you just typed RT before copy-pacing someone else's tweet.

I should also say it's impressive that Twitter's, sorry, x.com's nearly two-decade archives

still works as well as it does.

We'll see how long that lasts.

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