USDTradFi-Crypto Ties This Week Spotlight Reddit, Musk, and Trump’s Crypto Moves
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Elon Musk's X to Introduce In-App Trading Features as Part of Super App Ambitions
Elon Musk’s X is moving closer to becoming an "everything app" by planning to introduce in-app trading and investing features under the X Money umbrella. CEO Linda Yaccarino stated users will be able to manage their entire financial lives on the platform, encompassing transactions like paying for shared meals and making trades. X is also considering launching branded credit and debit cards by year-end. Although Yaccarino didn't confirm the inclusion of crypto trading, X supports Bitcoin tipping via the Lightning Network and is developing a peer-to-peer digital wallet in partnership with Visa, enhancing its financial offerings.
Bank of America Calls Bitcoin One of the Most Disruptive Innovations in 1,000 Years
Bank of America has recognized bitcoin as one of the most disruptive innovations of the last millennium, illustrating its significant impact on the financial landscape. A recent chart from BofA Global Research compares bitcoin to other major technological breakthroughs, indicating its emergence during a period of rapid technological growth. It is characterized as a systemic innovation that challenges traditional financial systems through decentralized value exchange. Although direct bitcoin purchases aren't yet supported, CEO Brian Moynihan has expressed the bank's readiness to adopt cryptocurrency payments pending regulatory clarity, reflecting a broader institutional embrace of digital assets.
Trump-Linked Firm Cuts Stake in World Liberty Financial from 60% to 40% Amid Scrutiny
DT Marks DeFi, a firm associated with Donald Trump, has reduced its equity stake in World Liberty Financial from 60% to 40%. The timing of this equity reduction is still unclear, although legal and website disclosures confirm the change. DT Marks DeFi previously held a 75% stake in December 2024. This shift occurs amid growing scrutiny over Trump's connections to cryptocurrency, including Senate inquiries and controversies surrounding memecoin dinners. World Liberty Financial, supported by the Trump family and launched in October 2024, features its own token, WLFI, alongside the stablecoin USD1, which boasts a supply of $2.2 billion.
Reddit Considers World ID Iris-Scanning for User Verification Amid AI and Age Regulation Concerns
Reddit is considering using World ID, developed by Tools for Humanity, to verify its users while preserving their anonymity. World ID employs iris-scanning technology to confirm user identity, enhancing measures against AI-generated content and complying with age verification regulations. Reddit CEO Steve Huffman noted the necessity for user authenticity validation. Following this news, Worldcoin (WLD) saw a 5% rise but later declined. The verification will offer options beyond Orb scanning, including limited functionality for users who prefer not to use it. This initiative aligns with Reddit's recent legal actions against AI impersonation and growing age verification requirements.
Paxos Launches Labs to Simplify DeFi Integration for Financial Institutions
Paxos has launched Paxos Labs to facilitate the integration of decentralized finance (DeFi) products and tokenized assets into financial institutions' platforms via user-friendly APIs. This initiative stems from a six-month development period responding to the rising demand for simpler access to DeFi markets. Paxos Labs enables fintechs and exchanges to issue custom stablecoins, manage digital assets, and provide yield options without engaging directly with DeFi protocols. Aiming to be the foundational infrastructure for on-chain financial products globally, Paxos Labs comprises a team of over a dozen specialists and seeks to expand its engineering and marketing capabilities.
Amazon and Google Control 45% of Bitcoin Lightning Network Nodes, Indicating Growing Crypto Adoption.
Amazon and Google are currently operating 45% of Bitcoin Lightning Network nodes, reflecting a significant investment in crypto payment infrastructure. The network has surged to over 16,000 nodes in 2025, driven by demand for faster, low-cost transactions. Amazon holds nearly 30% of these nodes, raising speculation about future Bitcoin payments on its platform. With blockchain fees dropping by 50% since late 2024 and the recent passage of the GENIUS Act, enterprise and governmental adoption of Lightning payments could increase significantly. Key players exploring Lightning include Tether, Uber, and nations like El Salvador, indicating a trend toward broader adoption.
WhiteBIT's Token WBT Soars 30% Following Juventus Partnership Announcement
WhiteBIT's token, WBT, surged over 30% within 24 hours following the announcement of a three-year partnership with Italian football club Juventus. As the “official cryptocurrency exchange” and “official sleeve partner,” WhiteBIT's logo will appear on the Men’s First Team jersey starting with the FIFA Club World Cup in 2025. This collaboration emphasizes digital innovation and fan engagement. Additionally, Tether, a prominent stablecoin issuer, has increased its stake in Juventus to over 10%. The partnership is seen as a strategic move to enhance both brands' visibility and market presence.
Mantle Launches UR: First Fully On-Chain Crypto Neobank on Ethereum Layer-2
Mantle has launched UR, the first fully on-chain crypto neobank on the Ethereum Layer-2 network, aiming to bridge TradeFi and DeFi. UR allows users to manage both fiat and crypto assets through a unified account system, supporting currencies like EUR, CHF, USD, and RMB. It will initially use SWIFT, SEPA, and Ethereum for fund transfers, with plans to shift to Base and Mantle Network. The crypto neobank market, currently valued at $100 billion and growing annually by 50%, shows significant potential as about 10% of neobank users currently engage with crypto features. Public access to UR is expected in Q3 2025.
TikTok Denies Rep. Sherman’s $300 Million Trump Memecoin Claim as "Patently False"
TikTok has rebuffed Rep. Brad Sherman’s allegation that its owners purchased $300 million in TRUMP memecoins, labeling the claim as "patently false and irresponsible." Sherman suggested that TikTok was attempting to bribe former President Trump to postpone a potential U.S. ban on the platform. However, it appears that he conflated TikTok with GD Culture Group, a small-cap company unrelated to TikTok's parent, ByteDance. GD Culture Group announced its intention to acquire TRUMP memecoins last month as part of its cryptocurrency treasury strategy, contributing to the misunderstanding surrounding the accusations against TikTok.
This article has been refined and enhanced by ChatGPT.
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