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X approved for crypto integration in “evolutionary move”

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X’s intent to infuse cryptocurrency solutions into its ecosystem has been a well-known aspiration, and the company is well-positioned to realize its ambitions due to its partnership with eToro.

According to data from the NMLS, X has successfully obtained the Rhode Island Currency Transmission License, a critical regulatory authorization for the storage, transfer, and trading of digital currencies. This license essentially gives a green light to all crypto activities involving the securekeeping of funds within a wallet.

With this recent approval, X’s extensive user base of 400 million individuals should soon have the capability to engage in transactions using cryptocurrencies. However, it is crucial to acknowledge that regulatory standards differ from one country to another, potentially leaving users in crypto-unfriendly nations without access.

Furthermore, the cryptocurrency landscape is already teeming with brokers, wallets, and platforms, making X’s offering appear less revolutionary, though it certainly represents an evolutionary step forward.

400 million users

X’s owner, Elon Musk, has flirted with the idea of transforming the social media platform into an “everything app.” To genuinely align with the concept of an “everything app,” X must aim to provide an integrated platform encompassing diverse activities like shopping, payments, games, video, messaging, and more. Cryptocurrency is expected to play a role in all of these activities.

Examples include the ability to purchase exclusive content from thought leaders, transfer funds among friends and family, make in-game purchases, tip video creators for outstanding content, and much more.

This facet can be perceived as a value-added service, enhancing the incentivization for content creators to receive more equitable compensation for their dedicated efforts.

Crypto surges

In addition to Grayscale’s court victory ruling, cryptocurrency prices experienced an upswing on Tuesday, with Dogecoin, Elon Musk’s favored cryptocurrency, outperforming others.

Dogecoin saw gains of around 6% on Tuesday afternoon, surpassing other major coins like Ethereum, XRP, and Cardano, which registered gains of 5.5%, 3.7%, and 4.2%, respectively.

However, Dogecoin’s surge was surpassed by Bitcoin, which surged by over 7%, largely due to expectations that the cryptocurrency community is one step closer to the approval of a spot Bitcoin ETF.

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Money

Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

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Money

Rich listers secret’s: how billionaires build their wealth

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Australian billionaires, including Gina Rinehart, have built their wealth by investing in valuable, income-generating assets.

For the average person looking to build their wealth, one possible option could be to buy quality assets like stocks when the market dips.

Mark Wyld from MW Wealth joins to discuss. #featured #trending #wyld money

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Buyer’s agent unveils key to building wealth through property

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Unveiling the strategies for game-changing wealth building through property.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Buyers Agent, Jack Henderson from Henderson Advocates. #trending #wyld money

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