Elon Musk crypto on the horizon? Stablecoins have a mixed market cap exceeding $233 billion. Is it time for X to launch a pro-community Elon Musk stablecoin?
There are over 10 totally different stablecoins, all monitoring the USD. As of February 25, 2025, all stablecoins mixed had a cumulative market cap exceeding $233 billion, with USDT by Tether being the biggest, commanding over 50% of the market share.
(Supply)
Time For X To Launch A Stablecoin?
Extra stablecoins will seemingly be issued within the coming years as crypto positive aspects adoption and issuers, following the lead of Tether and Circle, angle for large earnings. Whereas profitable, these earnings don’t trickle right down to USDT or USDC token holders except they stake or interact in DeFi.
In a submit on X, one analyst suggests that the social media platform, Elon Musk and X might contemplate launching their stablecoin to diversify their income stream. In the event that they do, one of the best strategy could be to launch a extra pro-community stablecoin, distributing yield on to holders.
In keeping with the analyst, launching a stablecoin aligns completely with Musk’s imaginative and prescient of reworking X right into a funds platform. X presently boasts over 650 million month-to-month energetic customers, 500 million of whom are outdoors the USA.
(Supply)
A USD-tracking stablecoin would allow these a whole bunch of thousands and thousands of customers to make seamless funds in a low-cost atmosphere. Nevertheless, the velocity of settlement and price would rely upon the chosen blockchain.
Most stablecoins are minted on Ethereum, its layer-2 networks, or Tron. A good portion of USDC additionally circulates on Solana, which is the popular stablecoin.
An X stablecoin could be a main initiative, positioning the favored social media platform as a critical competitor to Venmo, Money App, and different conventional cost programs struggling to maintain tempo with the fast rise of stablecoin adoption.
Past serving its huge consumer base, the stablecoin might additionally change into a money move engine, very similar to it’s for Tether. In 2024 alone, Tether generated over $13 billion in earnings—a warfare chest fueling its aggressive enlargement and diversification.
Tether is now concerned in Bitcoin mining and initiatives to solidify its dominance within the crypto market.
Good Timing? Stablecoin Legal guidelines Being Drafted In the USA
If X pursues this path—very similar to it embraced the AI development and finally launched Grok—it could possibly be among the many first issuers to capitalize on the USA’ push to create clear stablecoin laws.
Earlier this month, Senators Invoice Hagerty and Tim Scott, alongside Consultant French Hill, introduced plans to develop a framework particularly for stablecoins and crypto belongings.
The Guiding and Establishing Nationwide Innovation for United States Stablecoins Act (GENIUS) is amongst their proposals. It could mandate reserve necessities for stablecoin issuers and set up a board to supervise their actions.
As an illustration, stablecoins with a market cap exceeding $10 billion could be topic to direct Federal Reserve regulation, whereas non-bank issuers would be supervised by the Workplace of the Comptroller of the Forex (OCC).
Moreover, the Monetary Innovation and Know-how for the twenty first Century Act (FIT21) Invoice, handed by Congress in Might 2024, goals to outline clear oversight roles for the USA Securities and Trade Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC).
These companies could be required to categorise crypto belongings correctly. Presently, the SEC acknowledges solely Bitcoin as a commodity. In the meantime, the CFTC extends this designation to Ethereum and Litecoin.
Due to this readability, they’re amongst among the finest cryptos to purchase, explaining their enormous market caps.
Discover:Â Chill Man Crypto Plummets -53% in a Month. At $29M Market Cap, Is It All Over for Chill Man Meme Coin?
Be a part of The 99Bitcoins Information Discord Right here For The Newest Market Updates
Is it time for X and Elon Musk to launch a stablecoin?
Complete stablecoin market cap exceeds $233 billionÂ
Is it time for X and Elon Musk to launch a greater stablecoin rewarding holders?
Tether revamped $13 billion in earnings final 12 months
The submit Time For Elon Musk and X To Launch A Professional-Neighborhood Stablecoin? appeared first on 99Bitcoins.
