The CEO of X, Linda Yaccarino, hinted at the possibility of launching X Money with other innovations for the social media platform in 2025. Many speculate that X will introduce its own cryptocurrency, given Elon Musk’s support for Dogecoin.
In a place Welcoming the new year, Yaccarino alluded to the new innovations that will arrive in 2025 for X users. She specifically mentioned X TV, X Money, and other improvements designed to improve the user experience.
“2025 X will connect you in ways never thought possible. X TV, X Money, Grok and more. Chat. Happy New Year!” wrote Yaccarino in his latest place it’s January 1.
Several traders commented on Yaccarino’s post, speculating that X would introduce its own currency.
“2025 is the year of $XMONEY, and the community couldn’t be more excited!” said an account called XMoney Community, posting a AI– image generated by Elon Musk wearing a black X Money shirt.
Musk is widely known as an avid supporter of the crypto community, particularly Dogecoin (DOGE). Over the years, Musk has been vocal about his favoritism towards Dogecoin. This has led many to believe that X Money could potentially enter the crypto sphere.
The Age of Social Media Coins: X Money, Diem and TON
X is not the first company to try to create a currency based on social media. In 2018, Telegram launched the Telegram Open Network blockchain, or TON (TON). The project aims to create a fast and scalable blockchain capable of processing millions of transactions. To fund this ambitious effort, Telegram has raised approximately $1.7 billion.
Due to the opposition of the United States Securities and Exchange Commission, which considered the ICO of the token as an unregistered securities offering, Telegram eventually stopped the project in May 2020. However, a group of open-source developers and winners of the Telegram contest took over the project, rebranding. the cryptocurrency as Toncoin, or simply TON.
At the time of writing, TON has risen by 4.2%, trading at $5.67. TON has a market capitalization of $14 billion and a 24-hour trading volume exceeding $174 million. Toncoin has a circulating supply of 2.5 billion tokens, giving it a significant presence in the cryptocurrency market.
Although not all social media currencies end up successful. Meta had tried to do the same by launching Diem in 2019. Originally called Libra, the Diem token was marketed to the public as a blockchain-based stablecoin payment system. Like Telegram, the Diem Association also faced many obstacles from regulators who were against the token.
In the end, Meta discontinued the Diem project in 2022, selling all its assets to Silvergate Capital Corporation for $182 million, according to the BBC.
