X Teases New Launch To Fix Struggling Crypto Market

The X social media giant appears to on the verge of launching a massive cryptocurrency initiative. 

Nikita Bier, the head of product at X, recently took to the platform to hint at an upcoming rollout. 

"Crypto has had a rough year. Maybe we should launch something to fix it," Bier posted to his millions of followers, teasing an unannounced product or feature that could potentially shift the industry's momentum.

Sweeping crypto overhaul 

Bier recently gained some notoriety within the cryptocurrency community after taking an aggressive stance against manipulation on the platform. 

According to the executive, "80% of crypto is simply bots." 

The executive claims that the only viable solution is to implement strict second-degree reply restrictions. 

Bier recently quipped that “there were only 2000 people rugging each other back and forth, forever” after the platform recently removed crypto bots. 

Apart from automated spam, X is heavily targeting the phishing ecosystem. 

Following a wave of high-profile account hijackings used to promote fraudulent tokens, Bier announced new automated security measures. 

If an account with over 10,000 followers suddenly drops a meme coin without any prior history, the system will immediately flag it as a hack. 

The platform will then mandate account ownership verification. 

X Money   

X recently confirmed that X Money, the platform's dedicated payment system, will enter its early public access phase this month. 

The company has explicitly stated that cryptocurrency and stock trading functionalities are planned for integration later in the year.