X exec says Cashtags crypto, stock token feature has driven $1 billion in trading volume
Although he didn't dive into specifics, X’s Head of Product Nikita Bier said Friday that the platform’s "Cashtags" initiative has already helped drive billion-dollar trading volumes.
Earlier this week, the social media platform owned by Elon Musk launched "Cashtags," a new feature that lets iPhone users in the U.S. and Canada view financial data on stocks and cryptocurrencies directly within their timelines.
The Cashtags feature aligns with Musk's broader ambitions to transform X into a super app.
It's still unclear if and when X Money will allow transactions involving digital assets, although given the platform's popularity among crypto enthusiasts, doing so seems to be a natural fit. This week, Mizuho analysts said such a move might encounter regulatory resistance.
"X has always been the best source of financial news for traders and investors," Bier said when announcing the Cashtags launch. "Billions of dollars are allocated every day based on what people read on Timeline."
Bier, a Solana Labs advisor, joined X last June.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The “outlier” in the AI capital expenditure frenzy: Apple (AAPL.US) keeps spending flat, accounting for less than 5% of sales
Apple continues to stand out among major tech peers, largely avoiding the aggressive wave of capital expenditure associated with artificial intelligence (AI) infrastructure.
Youth Employment Declines for 48 Consecutive Months: Behind the Semiconductor Boom, Young South Koreans Are Being Left Behind by the Times
In South Korea, the unemployment rate in October fell to a three-year low of 2.5%. However, the number of employed people decreased by 50,000, youth employment has declined for 48 consecutive months, and domestic demand remains weak.
Strategy (MSTR.US) Faces Potential Removal from MSCI Index, Passive Funds May Sell $2.8 Billion
MicroStrategy is expected to be removed from the MSCI Global Investable Market Index. JPMorgan estimates that passive funds may sell about $2.8 billion worth of shares, and if removed from multiple indexes simultaneously, the scale could reach up to $8.8 billion. Additionally, with BTC falling below its average cost of $75,456, the company’s stock price and financing capacity are under dual pressure.
Crypto prices
More
