Social media giant X (formerly Twitter) has squashed rumors that it intends to become a cryptocurrency exchange. It will not offer direct Bitcoin or crypto trading to its users.
The clarification comes from Nikita Bier, X’s head of product, who corrected a viral narrative suggesting the platform was weeks away from launching native brokerage services for its billion-plus users.
“Smart cashtags”
The confusion stemmed from a fake report on X, which claimed X was about to let users “trade stocks and crypto directly from the timeline.”
However, in an update confirmed by Bier and X’s “Community Notes” feature, the platform’s strategy is strictly focused on information, not execution.
That said, the platform is actually rolling out “smart cashtags,” a feature designed to transform financial discourse into actionable trading. These cashtags will function as a direct trading interface.
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Users will be able to click on ticker symbols in posts and view real-time data.
The report states that users can “execute trades within the app,” removing the friction of switching to a separate brokerage account to act on market news.
This move is the latest step in Elon Musk’s long-stated goal of turning X into an “everything app” similar to China’s WeChat.
Musk aims to capture the user’s entire digital life (from messaging and news to managing daily finances).
Taking a stand against spam
Bier has stated that he wants crypto to proliferate on crypto. However, he has taken a stand against spam.
“I genuinely want crypto to proliferate on X, but applications that create incentives to spam, raid, and harass random users is not the way.