The new date is Nov 9, 2022, 02:53pmEST.

The verification program was shut down just hours after it was launched, according to Musk, who said the platform would do a lot of dumb things in the coming months to see what works.

The 2022 Met Gala Celebrating ″In America: An Anthology of Fashion″ - Arrivals

The Met Gala will be held in New York City on May 2, 2022.

Getty Images for The Met Museum/Vogue

The new gray check mark will be used to verify official accounts, such as those belonging to government accounts, media outlets, companies and some public figures, which will differentiate them from theTwitter Blue subscription, which will allow any users that pay $7.99 a month to receive.

Musk added that the blue check would be the great leveler.

He said that the platform will experiment with different features and will keep what works.

Esther Crawford said that the platform is focused on government and commercial entities, not individuals, which she said Musk was referring to.

Filings obtained by The New York Times show that the Treasury Department's Financial Crimes Enforcement Network was registered with Twitter last week.

Musk wants to eventually allow users to send money through the platform and even offer an extremely compelling money market with a high yield to make the app useful.

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Musk has previously stated that he would be able to create an "everything app" that goes beyond social media if he were to purchase the company.

Crucial Quote

We correct dumb moves quickly. That is what matters according to Musk.

Big Number

A total of $43 billion. That is the amount of money Musk spent when he bought the company. He bought the platform on the basis of what it could become. In April, Musk bought a 9% stake in the company and said he was going to purchase it. In July he changed his mind and said he was concerned about the number of fake accounts on the platform.

Key Background

Musk has repeatedly said that he intends to do away with the blue check verification system in which the labels are mostly reserved for public figures. The new system will allow subscribers to post longer videos and have their content prioritized on timelines.

Tangent

Amid turmoil at the company, Musk is attempting to drive new revenue. About half of the workforce will be affected by the mass layoffs that began last week. Musk said Friday that he had no choice but to cut staff because the platform was losing money. Some of the platform's major advertisers have pulled their spending over concerns about the company. Musk said the company had done everything it could to appease them.

Paperwork to enter payments business has been filed by the social network.