Elon Musk’s X Gears Up for Crypto While Prices Surge Amid Wall Street Tremors

X, the platform formerly known as Twitter now helmed by Elon Musk, has obtained money transmitter licenses in 10 U.S. states. This enables X to operate as a licensed money service business facilitating cross-border transfers in regions like Arizona, Iowa, and Rhode Island.

The milestone accelerates X’s trajectory toward potential future crypto integration, despite Musk claiming his companies won’t issue native tokens. Financial services seem slated for expansion on X, sparking speculation about partnerships, stablecoin projects, and other blockchain infrastructure integrations.

Musk’s AI Startup Looks to Raise $1 Billion

In parallel news, Musk’s newest AI venture X.AI aims to raise up to $1 billion in fresh funding. While details remain scarce, the capital influx may accelerate X.AI’s plan to “understand the universe” through AI development.

The flurry of activity comes as crypto markets see a broad resurgence. Bitcoin bounced past $45k, while Ethereum and altcoins like Dogecoin registered double-digit gains. Traders are regaining their appetite for risk as markets hope for a less hawkish Fed in 2023.

PayPal and X Positioned for Crypto Commerce Battle

PayPal moved early to capture the crypto commerce wave, adding Bitcoin and Ethereum purchases by late 2020. This proved a key catalyst during Bitcoin’s monumental 2021 bull run toward $70k. However, PayPal’s crypto offering is narrow compared to native exchanges.

Meanwhile, Musk has loudly voiced his crypto affinity over the years, even hyping Dogecoin’s potential. X eyes a broader “everything app” vision that folds in fintech and social media. As X continues securing money transmitter credentials state-by-state in America, its sprawling platform could ultimately rival PayPal for the crypto commerce crown.

The swelling tide of crypto adoption surging through consumer tech has the potential to lift emerging blockchain projects to new heights. However, the enduring titans like Bitcoin and Ethereum remain the safest harbor for most.

Whether fledgling coins or venerable protocols, Assembly encourages standing on the shoulders of open-source innovation – not allegiance to personalities and flashy hype. Code and community form the core of this technological shift. We shape the future by understanding the past.