In recent month, we have seen high profile social media outlets Facebook and Twitter outright ban advertising related to digital currency – due in large part to concerns over fraudulent Initial Coin Offerings (ICOs).
As a finance and tech consultant Zennon Kapron explained, “With the increasing number of ICOs coming to market, it is an impossible task for anyone, much less platforms like Twitter or Facebook, to keep on top of which ICOs and cryptocurrencies are genuine versus frauds… Although certainly ICO advertising must have been a significant source of revenue for Twitter, the repercussions of fraudulent activities just weren’t worth the risk.”
However, in late-June Facebook decided to soften their stance and allow some for some crypto ads, while maintaining their restriction on content related to ICOs. Based on recent events, there is some speculation amongst members of the crypto community that Twitter might soon be following their rival’s lead.
Twitter and Tron?
On July, 11th, members of Twitter management paid a visit to Tron Foundation headquarters. For those unfamiliar, Tron is a blockchain-based platform that’s focused on empowering content creators – using a digital currency known as Tronix (TRX). The protocol allows users to do things like store, publish and even own their data.
At present, there is very little information as to what the two companies discussed during their meeting – outside of crypto-related spambots. The relatively secretive nature of the gathering had the crypto rumor mill turning.
For example, Oracle Times author Eduard Watson speculated that the two parties could be discussing anything from a potential partnership to the possibility of Twitter removing its ban on crypto ads.
For his part, Tron CEO Justin Sun simply stated, “ It appears Twitter and Tron (TRX) are discussing something very vital.”
In all likelihood, we will find out what exactly that “something” is –in the very near future.