Summary
- X signaled it may introduce a new feature aimed at the cryptocurrency market and expand into platform-based finance.
- Nikita Bier said 80%% of crypto is just bots and that the company may need to launch something to fix that.
- X said it is considering integrating cryptocurrency and stock trading functions into its in-house payments system, X Money, alongside stronger security measures.
Forecast Trend Report by Period
X, the social media platform, has signaled it may launch a new feature aimed at the cryptocurrency market, raising interest in a broader expansion into platform-based financial services.
Crypto-focused media outlet U.Today reported on April 14 that X Head of Product Nikita Bier said, "The crypto market has had a rough year. We may need to launch something to fix that."
Bier did not provide details or a timeline. In the industry, the remarks were taken as a sign that X may be preparing crypto-related services or infrastructure.
He has recently intensified criticism of crypto-related activity on the platform. In particular, he argued that "80% of crypto is just bots," highlighting market distortions driven by automated accounts.
X has also been expanding security measures targeting bots and phishing accounts. The company has reportedly introduced a system that automatically detects possible hacks and requires account ownership verification when accounts above a certain size suddenly begin promoting new tokens.
Separately, X plans an initial rollout of its in-house payments system, X Money, later this month. The company also said it is considering adding cryptocurrency and stock trading functions to the system.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
