A new partnership between Twitter and social trading company eToro will enable users to trade crypto and stocks on the social media platform.

Now when Twitter users search with its recently introduced “$Cashtag” symbol, they will be able to access eToro’s platform to view more information on assets including cryptocurrency and commodities and be presented with the option to invest.

Introduced late last year, the “cashtags” have reportedly generated around 420 million searches per day since the start of 2023, with the most popular being “$TSLA” (Tesla).

“Twitter is what’s happening and what people are talking about right now, “commented Chris Riedy, vice president, global sales and marketing at Twitter. “We believe real change starts with conversion and finance and investing is a growing part of that conversation.”

Yoni Assia, chief executive and co-founder of eToro, said that social media has provided financial information to those who have “felt excluded” by more traditional channels.

“Twitter has become a crucial part of the retail investing community - it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse,” he said. “eToro was built on these very principles - community, knowledge-sharing and better access to financial markets.”

Since Elon Musk’s takeover of Twitter in 2022, the platform has struggled to operate successfully, with Musk recently claiming that Twitter is now worth around half of what he originally paid for it.

Twitter’s woes in part stem from a mass exodus of high-profile advertising partners such as General Motors, who left the platform with fears it could degenerate into a right-wing hotbed after the accounts of controversial figures including former president Donald Trump and influencer Andrew Tate were reinstated.

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