Elon Musk’s X platform rolled out its “Cashtags” feature to the web, integrating real-time price charts for five major cryptocurrencies just as the billionaire testified in court that most crypto assets are scams. The feature supports Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and XRP, alongside major stocks.
"Some of them have merit, but most of them are scams," Musk said during testimony in his civil trial against OpenAI, according to a report from the New York Times. The comment came in response to questions about a scrapped 2018 plan for OpenAI to conduct an initial coin offering (ICO).
The dual moves represent a calculated strategy to build a regulated, controlled financial ecosystem within X while publicly discrediting the unregulated open market. The Cashtags feature provides clickable, real-time charts and curated post feeds for the selected assets, which notably include the most liquid and institutionally recognized cryptocurrencies. The platform is simultaneously pursuing money transmitter licenses in more than 25 U.S. states for its X Payments system.
This strategy allows X to build a compliant financial service that leverages crypto's popularity without embracing the regulatory risks that have drawn enforcement from the Securities and Exchange Commission. By positioning himself as a skeptic, Musk signals to regulators that X’s financial products are separate from the speculative activity he criticizes, creating a potential pathway for deeper fintech integrations, including trading.
A Strategy of Deliberate Contradiction
While Musk’s courtroom comments mark a sharp break from his previous role as a major crypto booster, they align perfectly with X's business objectives. The goal is not to abandon crypto, but to bifurcate it. On one side are the "merit" assets like Bitcoin, which Tesla continues to hold on its balance sheet to the tune of 11,509 BTC, worth approximately $879 million as of Q1 2026. On the other are the "scams" that X's new anti-fraud controls, including account locks on first-time crypto posters, are designed to filter out.
"Now X can be a core part of your trading terminal with real-time charts and posts for every asset," X head of product Nikita Bier said, framing the ambition in explicitly financial terms. This language suggests future execution capabilities, built upon the licensed and regulated foundation of X Payments, rather than simply providing market data.
The 'Everything App' Blueprint
The Cashtags launch is a component of Musk's broader vision for an "everything app" that merges social media, payments, and commerce. The move coincides with a major overhaul of X's advertising platform, which is being rebuilt to integrate more closely with xAI and support the company's push into finance. Musk has stated that X Money, the platform's digital payments arm, would see an early rollout in April, with reports of a partnership with Visa to support wallet functions.
By creating a walled garden for a handful of vetted crypto assets, X can offer users exposure to the market while controlling the user experience and, crucially, the regulatory interface. This approach contrasts with open crypto exchanges and seeks to build a more defensible, centralized model for financial services on a social platform.
This article is for informational purposes only and does not constitute investment advice.
