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date
17/04/2026
Declaration: G7 member countries remain highly vigilant of the direct and indirect impacts that conflicts bring to the most vulnerable countries.
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12 m ago
On April 17, Mizuho Bank research analyst released a report stating that X Money, a financial feature launched by Musk's X Platform, has the potential to disrupt the American payment industry, but its integration plan for cryptocurrencies may face regulatory obstacles. Mizuho analysts Dan Dolev and Andrew Jenkins wrote in a client report that X Money is positioned as the financial infrastructure layer of the X Platform, aiming to integrate instant messaging, bank deposits, and commercial transaction functions. With a user base of 500 to 600 million monthly active users on the X Platform and Musk's background as a co-founder of PayPal, X Money has the potential to disrupt the American payment industry. On the regulatory front, analysts pointed out two potential obstacles: firstly, the recent "CRYPTO Act" proposed by the state of New York, which aims to make unlicensed virtual currency operations a criminal offense in the state, could raise compliance thresholds for X's future cryptocurrency integration plans; secondly, the "Clarity Act" might restrict non-bank financial platforms from providing users with the ability to earn income, potentially hindering X Money's planned 6% annualized cash balance yield for users. Analysts noted that the timing of launching this yield product is "particularly sensitive." Mizuho also downgraded the rating of PayPal (PYPL) stock to "neutral," pointing out that PayPal and its subsidiary Venmo face the most direct substitution risk as X is targeting the same point-to-point transfer and digital wallet entry points. This week, the X Platform also launched a new feature called "Cashtags," which allows users to directly view financial data of stocks and cryptocurrencies on their timeline.
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