Musk Says X Payment "Not Considering Cryptocurrency" for Now, Dogecoin Dream Shattered?
Original Article Title: "Rumor: Musk X Payment 'Not Considering Cryptocurrency' Dogecoin Plunges, What Is the Truth?"
Original Article Author: DaFi Weaver, BlockTempo
At the beginning of January, the source code for Musk's X platform payment feature, 'X Money,' was exposed, sparking community discussion that X Payment may be launched first in states with licenses. Entrepreneur Alex Finn even predicted that X Payment would somehow support cryptocurrency, further fueling speculation that Musk's long-supported Dogecoin could be the preferred choice.
Musk: Cryptocurrency Will Not Be Used in X Payment in the Near Term
However, today the market was suddenly hit by news that undermined the possibility of X Payment supporting cryptocurrency. Sources pointed out that during a stream test of X, Musk mentioned the topic of X Payment and said:
"Cryptocurrency will not be used in X Payment in the near term because it requires the appropriate licenses, and for now, the focus will be on fiat currency."

However, BlockTempo verified the video and found that Musk was mainly explaining the game mechanics of Exile Pathway 2 and expressed a desire to rank in the Hardcore Leaderboard TOP10. No information related to X Payment was found in the explanation.

It is known that X has so far obtained Money Transmitter Licenses in 39 states in the United States. These registrations are associated with a company called "X Payments LLC" (formerly "Twitter Payments LLC"), which will operate the remittance business of X.
Although the requirements for Money Transmitter Licenses vary from state to state, these licenses generally allow companies to send, receive, and transfer funds for customers nationally and internationally. They also allow for foreign exchange, such as exchanging foreign currency for dollars, and issuing prepaid cards, this definition includes both fiat currency and cryptocurrency. However, if the sources are accurate, it indicates that Musk has not prioritized support for cryptocurrency.
Dogecoin Plunges 11%
Possibly influenced by this news combined with the overall market decline, Dogecoin suffered a severe drop. CoinGecko data shows that Dogecoin plummeted from yesterday's $0.3968 to $0.3473, a cumulative drop of 12.47%, with no sign of recovery as of the deadline.

CEO Teases Launch of X Money This Year
Of note, X CEO Linda Yaccarino indicated in a January 1st tweet that X will be launching X Money in 2025.
“In 2024, X changed the world. Now, you are the media!
In 2025, X will connect with you in unprecedented ways, with X TV, X Money, Grok, and more on the horizon.”

You may also like

Polymarket vs. Kalshi: The Full Meme War Timeline

Consensus Check: What Consensus Was Born at the 2026 First Conference?

Resigned in Less Than a Year of Taking Office, Why Did Yet Another Key Figure at the Ethereum Foundation Depart?

Russian-Ukrainian War Prediction Market Analysis Report

Ethereum Foundation Executive Director Resigns, Coinbase Rating Downgrade: What's the Overseas Crypto Community Talking About Today?

Who's at the CFTC Table? A Rebalancing of American Fintech Discourse
AI Trading vs Human Crypto Traders: $10,000 Live Trading Battle Results in Munich, Germany (WEEX Hackathon 2026)
Discover how AI trading outperformed human traders in WEEX's live Munich showdown. Learn 3 key strategies from the battle and why AI is changing crypto trading.
Elon Musk's X Money vs. Crypto's Synthetic Dollars: Who Wins the Future of Money?
How do Synthetic Dollars work? This guide explains their strategies, benefits over traditional stablecoins like USDT, and risks every crypto trader must know.

The Israeli military is hunting a mole on Polymarket

Q4 $667M Net Loss: Coinbase Earnings Report Foreshadows Challenging 2026 for Crypto Industry?

BlackRock Buying UNI, What's the Catch?

Lost in Hong Kong

Gold Plunges Over 4%, Silver Crashes 11%, Stock Market Plummet Triggers Precious Metals Algorithmic Selling Pressure?

Coinbase and Solana make successive moves, Agent economy to become the next big narrative

Aave DAO Wins, But the Game Is Not Over

Coinbase Earnings Call, Latest Developments in Aave Tokenomics Debate, What's Trending in the Global Crypto Community Today?

ICE, the parent company of the NYSE, Goes All In: Index Futures Contracts and Sentiment Prediction Market Tool
