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Elon Musk’s X To Enable Crypto And Stocks Trading In Coming Weeks — Details

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According to X’s Head of Product, Nikita Bier, the upcoming Smart Cashtags feature will enable users to trade cryptocurrencies and stocks directly via the social media platform.

X Users To Trade Crypto And Stocks Directly Through Their Timeline

In a February 14 post on the X platform, Bier confirmed that the social media platform will be rolling out a number of features in a couple of weeks. Most notably, Bier mentioned the Smart Cashtags feature, highlighting that it will allow users trade crypto and stocks directly from their timeline.

Related Reading: Binance Confirms 3 Arrested In France Executive’s Home Invasion — Details

Prior to this confirmation, Bier had teased the launch of the Smart Cashtags feature earlier in January, hinting at the possibility of in-app trading. The X platform had initially introduced a basic Cashtag functionality in 2022, which tracked the prices of major stocks and cryptocurrencies and offered visual financial data for supported assets before it was discontinued.

It is expected that this upcoming Smart Cashtags will be an improvement on the existing $TICKER system, which allows users to prefix token tickers with a dollar sign in order to create a clickable link. The tags will show live price charts, related posts on X, and direct trading options.

In his Saturday post, which was in response to a thread about third-party crypto apps, Bier also addressed the issue of spamming, raiding, and harassment on the X platform. 

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Source: @nikitabier on X

Bier said: 

I genuinely want crypto to proliferate on X, but applications that create incentives to spam, raid, and harass random users is not the way. It meaningfully degrades the experience for millions of people — only to enrich a few people.

Meanwhile, Christopher Park, director of X’s developer platform, said that all automation and spam through scraping and API will be flagged and eventually going forward. “No more bots/programs that do or incentivize large-scale platform manipulation, engagement farming, spam, & scraping,” Park said.

X Begins Beta Testing For Payments Feature

In another response, Bier clarified that X is not handling trade execution or acting as a brokerage platform, but rather just developing the financial data tools and links. Ultimately, this Smart Cashtags feature aligns with X’s financial services push and Elon Musk’s broader goal of making the platform an “everything app.”

The social media platform looks set to launch X Money, a digital feature that enables peer-to-peer payment. Musk revealed earlier this month at an xAI presentation that X Money has completed internal employee testing and is in a limited beta testing phase over the next two months before a worldwide rollout.

crypto

The price of BTC crosses $70,000 on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image by Beata Zawrzel/NurPhoto via Getty Images, chart from TradingView

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Trump Media Files to Launch Truth Social-Branded Bitcoin, Ethereum, Cronos ETFs

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In brief

  • Trump Media’s Truth Social Funds applied for two new crypto ETFs centered on Cronos, Ethereum, and Bitcoin.
  • The joint Bitcoin and Ethereum ETF will split exposure to the top assets via an expected 60-40 split in favor of BTC.
  • Shares in DJT finished the day up around 0.8%, but are down nearly 39% in the last six months.

Truth Social Funds, the “America first” exchange-traded funds (ETFs) issuer from Trump Media and Technology Group (DJT), filed Friday to launch two new ETFs centered on the performance of Cronos (CRO), Bitcoin, and Ethereum. 

The registrations for the Truth Social Cronos Yield Maximizer ETF and Truth Social Bitcoin and Ether ETF are created in partnership with Crypto.com, which would serve as the digital asset custodian and staking services provider for the products.

“We are pleased to be selected to provide digital asset custody, liquidity, and staking services for these new Truth Social Funds ETFs,” said Crypto.com co-founder and CEO Kris Marszalek, in a statement. “These two digital asset ETFs have a strong value proposition that Crypto.com is supportive of and look forward to providing traders access to.”

The Cronos ETF is designed to track the performance of CRO—the token of the Crypto.com-linked Cronos blockchain—while providing exposure to native staking and liquid staking of the Cronos token.

On the other hand, the Bitcoin and Ether ETF is a joint ETF, designed to track the performance of the top two crypto assets by market cap using approximately a 60-40 BTC-ETH split. Like its Cronos ETF, Truth Social Funds intends to provide staking rewards from its Ether position to ETF holders. 

The applications are just the latest crypto ETF filings from Trump Media entities, which previously filed for a solo Bitcoin ETF last June and a crypto blue chip ETF which includes BTC and ETH as well as Solana (SOL), the Ripple-linked XRP, and CRO.

Those ETFs are expected to go live sometime in the next few months, according to Bloomberg ETF analyst Eric Balchunas. 

The firm’s current ETFs are “America first” by design and include a red state real estate ETF, an American security and defense fund, and an “American Icons” ETF that includes shares of firms like Walmart, McDonald’s, and Home Depot. 

Both of the newly registered funds will be advised by Yorkville America Equities, an investment adviser focused on America-first investments. 

Shares in Trump Media, the firm behind the Truth Social platform, closed up around 0.9% on Friday, changing hands at $10.98. Shares have fallen nearly 39% in the last six months.

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Wall Street remains bullish on bitcoin (BTC) price while offshore traders retreat

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A divergence in global bitcoin market sentiment is widening as U.S. institutional investors hold steady while offshore traders retreat from their positions.

The gap is clearest in futures markets. CME, the go-to platform for hedge funds and institutional desks in the U.S., shows traders are still paying a premium to stay long on bitcoin, according to NYDIG’s head of research, Greg Cipolaro.

This is evident on a one-month annualized basis, essentially the markup for futures over spot prices, which remains higher than on its offshore counterpart, Deribit.

“The more pronounced drop in offshore basis suggests reduced appetite for leveraged long exposure,” Cipolaro wrote. “The widening spread between CME and Deribit basis functions as a real-time gauge of geographical risk appetite.”

Bitcoin earlier this month fell to $60,000 before rebounding. Some pinned the selloff on rising concerns that quantum computing will undermine the system’s cryptographic security. NYDIG found that the numbers don’t back up that explanation.

For one, bitcoin’s performance has closely tracked that of publicly traded quantum-computing companies like IONQ Inc. (IONQ) and D-Wave Quantum Inc. (QBTS). If quantum risk were truly weighing on crypto, those stocks would be rising while bitcoin falls.

Instead, they dropped together, pointing to a broader decline in appetite for long-term, future-driven assets. On top of that, search data on Google Trends shows interest for “quantum computing bitcoin” rises when the price of BTC rises.

Senators Urge CFIUS Probe of $500M UAE Stake in Trump-Linked WLFI

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Two US senators are pressing the Treasury Department to investigate a reported foreign investment in a crypto venture tied to the Trump family, raising concerns about national security, foreign influence and access to sensitive financial data.

In a Friday letter to Treasury Secretary Scott Bessent, Massachusetts Senator Elizabeth Warren and New Jersey Senator Andy Kim asked the government to determine whether the Committee on Foreign Investment in the United States (CFIUS) should investigate a deal in which a UAE–backed investment vehicle agreed to purchase a 49% stake in World Liberty Financial (WLFI) for roughly $500 million.

The lawmakers wrote that the transaction reportedly occurred days before Donald Trump’s inauguration and would make the foreign fund the firm’s largest shareholder and its only publicly known outside investor. They asked Bessent, who chairs CFIUS, to confirm whether the committee was notified and, if necessary, conduct a “comprehensive, thorough, and unbiased investigation.”

The investment was reportedly backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser. The agreement allegedly directed about $187 million to entities linked to the Trump family and granted two board seats to executives connected to G42, a technology company previously scrutinized by US intelligence agencies over concerns about ties to China, per the letter.

Related: Trump Media files for two new crypto ETFs tied to Bitcoin, Ether, Cronos

UAE stake could expose Americans’ financial and personal data

Warren and Kim argued that the structure of the deal could allow a foreign government to gain influence over a US company handling financial and personal information. They noted that the firm’s privacy disclosures indicate it collects data including wallet addresses, IP addresses, device identifiers and approximate location data, along with certain identity records through service providers.

CFIUS is tasked with reviewing foreign investments that could provide access to sensitive technologies or personal data belonging to US citizens. The lawmakers requested answers by March 5.

Senators ask Bessent to answer questions. Source: Senate

Last year, Senators Warren and Jack Reed also called on US authorities to investigate alleged links between World Liberty Financial’s token sales and sanctioned foreign actors. In a Nov. letter to the Justice Department and Treasury, they cited claims that WLFI governance tokens were bought by blockchain addresses tied to North Korea’s Lazarus Group, as well as Russian- and Iranian-linked entities.

Related: Trump family’s WLFI plans FX and remittance platform: Report

Trump says sons handle WLFI investment

Earlier this month, US President Donald Trump said he was unaware of the reported multimillion-dollar investment tied to an Abu Dhabi royal and entities connected to the World Liberty Financial crypto platform.