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On April 17, Mizuho Bank research analysts released a report stating that X Money, the financial feature launched by Elon Musk's X platform, has the potential to disrupt the U.S. payment industry, although its cryptocurrency integration plans may face regulatory hurdles. 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, banking deposits, and commercial transaction functionalities. With 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 U.S. payment industry. On the regulatory front, analysts pointed out two major potential obstacles: first, New York's recently proposed "CRYPTO Act" (Cryptocurrency Regulation, Protection, Trust, and Supervision Act) aims to criminalize unlicensed virtual currency operations in the state, which would raise compliance barriers for X's future cryptocurrency integration plans; second, the "Clarity Act" may restrict non-bank financial platforms from offering yields to users, potentially hindering X Money's plan to provide users with a 6% annualized yield on cash balances, with analysts noting that the timing for launching such a yield product is "particularly sensitive." Mizuho also downgraded PayPal (PYPL) stock to "neutral," indicating that PayPal and its Venmo app face the most direct substitution risk, as X is targeting the same peer-to-peer transfer and digital wallet entry points. This week, the X platform also launched a new feature called "Cashtags," allowing users to view financial data for stocks and cryptocurrencies directly in their timelines.

[Mizuho Bank: Elon Musk's X Money Could Disrupt U.S. Payment Market and Challenge PayPal]On April 17, Mizuho Bank research analysts released a report stating that X Money, the financial feature launched by Elon Musk's X platform, has the potential to disrupt the U.S. payment industry, although its cryptocurrency integration plans may face regulatory hurdles. 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, banking deposits, and commercial transaction functionalities. With 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 U.S. payment industry. On the regulatory front, analysts pointed out two major potential obstacles: first, New York's recently proposed "CRYPTO Act" (Cryptocurrency Regulation, Protection, Trust, and Supervision Act) aims to criminalize unlicensed virtual currency operations in the state, which would raise compliance barriers for X's future cryptocurrency integration plans; second, the "Clarity Act" may restrict non-bank financial platforms from offering yields to users, potentially hindering X Money's plan to provide users with a 6% annualized yield on cash balances, with analysts noting that the timing for launching such a yield product is "particularly sensitive." Mizuho also downgraded PayPal (PYPL) stock to "neutral," indicating that PayPal and its Venmo app face the most direct substitution risk, as X is targeting the same peer-to-peer transfer and digital wallet entry points. This week, the X platform also launched a new feature called "Cashtags," allowing users to view financial data for stocks and cryptocurrencies directly in their timelines.

Mizuho Bank: Elon Musk's X Money Could Disrupt U.S. Payment Market and Challenge PayPal

On April 17, data showed that ORDI briefly surpassed $9.5, currently reported at $9.022, with a 24-hour increase of 212%. In the past 24 hours, the total liquidations of ORDI contracts across the network reached $22.75 million, including $5.18 million in long liquidations and $17.57 million in short liquidations.

[ORDI Surges Over 200% in a Single Day, Liquidations Exceed $22 Million]On April 17, data showed that ORDI briefly surpassed $9.5, currently reported at $9.022, with a 24-hour increase of 212%. In the past 24 hours, the total liquidations of ORDI contracts across the network reached $22.75 million, including $5.18 million in long liquidations and $17.57 million in short liquidations.

ORDI Surges Over 200% in a Single Day, Liquidations Exceed $22 Million

On April 17, it was reported that following U.S. President Trump’s announcement of a ceasefire between Lebanon and Israel set to begin at midnight Beirut time, the Israel Defense Forces (IDF) are conducting large-scale airstrikes in multiple areas of southern Lebanon. Residents in southern Lebanese cities and surrounding areas can hear the sounds of missile explosions and the continuous roar of fighter jets. President Trump stated on the 16th that the ceasefire between Lebanon and Israel will officially commence for a duration of 10 days at 5 PM Eastern Time on the 17th.

[IDF Launches Large-Scale Airstrikes in Southern Lebanon After Trump Announces Ceasefire]On April 17, it was reported that following U.S. President Trump’s announcement of a ceasefire between Lebanon and Israel set to begin at midnight Beirut time, the Israel Defense Forces (IDF) are conducting large-scale airstrikes in multiple areas of southern Lebanon. Residents in southern Lebanese cities and surrounding areas can hear the sounds of missile explosions and the continuous roar of fighter jets. President Trump stated on the 16th that the ceasefire between Lebanon and Israel will officially commence for a duration of 10 days at 5 PM Eastern Time on the 17th.

IDF Launches Large-Scale Airstrikes in Southern Lebanon After Trump Announces Ceasefire

On April 17, U.S. President Trump stated: In addition to the statement just made, I will also invite Israeli Prime Minister Netanyahu and the President of Lebanon to the White House for the first substantive talks between Israel and Lebanon since 1983 (which was a long time ago). Both sides are eager for peace, and I believe it will be achieved soon!

[Trump: Invites Netanyahu and Lebanese President to Visit the White House]On April 17, U.S. President Trump stated: In addition to the statement just made, I will also invite Israeli Prime Minister Netanyahu and the President of Lebanon to the White House for the first substantive talks between Israel and Lebanon since 1983 (which was a long time ago). Both sides are eager for peace, and I believe it will be achieved soon!

Trump: Invites Netanyahu and Lebanese President to Visit the White House

On April 16, CertiK reported that the DeFi protocol Rhea Finance was attacked, with attackers extracting at least $7.6 million in total. The attackers misled the oracle and validation layers by creating fake token contracts and injecting liquidity into newly established funding pools to carry out the attack.

[CertiK: Rhea Finance Attacked, Losses Estimated at Approximately $7.6 Million]On April 16, CertiK reported that the DeFi protocol Rhea Finance was attacked, with attackers extracting at least $7.6 million in total. The attackers misled the oracle and validation layers by creating fake token contracts and injecting liquidity into newly established funding pools to carry out the attack.

CertiK: Rhea Finance Attacked, Losses Estimated at Approximately $7.6 Million

edge Surges 13.45% in 24H, Currently at 1.1689 USDT

【edge currently trades at 1.1689 USDT, up 13.45% in 24h, according to HTX market data.】edge Surges 13.45% in 24H, Currently at 1.1689 USDT

edge currently trades at 1.1689 USDT, up 13.45% in 24h, according to HTX market data.

edge Hits New High of 1.1689 USDT, Up 13.45% in 24H

【edge soared to 1.2742 USDT, a new high with a 24-hour increase of 13.45%. It currently trades at 1.1689 USDT on HTX.】edge Hits New High of 1.1689 USDT, Up 13.45% in 24H

edge soared to 1.2742 USDT, a new high with a 24-hour increase of 13.45%. It currently trades at 1.1689 USDT on HTX.

based Surges 225.56% in 24H, Currently at 0.260866 USDT

【based currently trades at 0.260866 USDT, up 225.56% in 24h, according to HTX market data.】based Surges 225.56% in 24H, Currently at 0.260866 USDT

based currently trades at 0.260866 USDT, up 225.56% in 24h, according to HTX market data.

based Hits New High of 0.260866 USDT, Up 225.56% in 24H

【based soared to 0.260866 USDT, a new high with a 24-hour increase of 225.56%. It currently trades at 0.260866 USDT on HTX.】based Hits New High of 0.260866 USDT, Up 225.56% in 24H

based soared to 0.260866 USDT, a new high with a 24-hour increase of 225.56%. It currently trades at 0.260866 USDT on HTX.

the a16z crypto team pointed out in an article that as AI systems scale up, the internet lacks a native way to distinguish between humans and machines, posing challenges to trust systems, while blockchain technology can provide solutions. The article summarizes the following five key roles:

[a16z: Blockchain is a key infrastructure for internet trust in the AI ​​era.]the a16z crypto team pointed out in an article that as AI systems scale up, the internet lacks a native way to distinguish between humans and machines, posing challenges to trust systems, while blockchain technology can provide solutions. The article summarizes the following five key roles:

a16z: Blockchain is a key infrastructure for internet trust in the AI ​​era.

Article

Israel Warns of Possible Renewed Conflict with Iran, Continues Strikes on Hezbollah

SpaceX Plans Site Visits for Potential Major Investors Ahead of Large IPO

US Dollar Index Declines 0.07% on April 15

Iranian Speaker Ghalibaf: Lebanon's Ceasefire is a Result of Resistance Front's Struggle

Bitunix Analyst: Energy Supply Risks Shift to Manageable but Not Resolved, Delayed Responses in Policy and Corporate Behavior, Market Enters Asymmetric Pricing Phase

Trump: Negotiations Between Israel and Lebanon to Take Place Tomorrow

a16z: Blockchain is a key infrastructure for internet trust in the AI era.

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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a16z: Blockchain is a key infrastructure for internet trust in the AI ​​era.

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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All Comments0LatestHot

Trending Topics

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a16z: Blockchain is a key infrastructure for internet trust in the AI era.