00:00 It's Benzinga and here's what's on the block.
00:02 Elon Musk has rebranded Twitter and introduced a new "X" logo in place of the social media
00:07 company's iconic bluebird logo.
00:10 The "X" logo is said to represent a vision that includes audio/video messaging and banking
00:15 capabilities, and it harks back to Musk's former online banking startup, X.com, which
00:21 later became PayPal.
00:23 Musk has been vocal about his ambition to turn Twitter into an "everything" app and
00:26 even a significant financial institution akin to WeChat.
00:30 He has been steering Twitter toward a subscription-based model and focusing on video content.
00:35 Despite these plans, Twitter's valuation dropped under Musk's ownership, and some
00:39 advertisers have pulled back due to concerns about content moderation.
00:42 For all things money, visit Benzinga.com.
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