News linked to both this project and an event.
According to Cointelegraph, Nikita Bier, X’s Head of Product, previously posted a hint suggesting the platform may launch a product aimed at “fixing the crypto industry,” sparking widespread market attention and speculation. The market generally believes this crypto-related product will tie into X’s broader financial ecosystem strategy and is expected to involve the upcoming payment and digital wallet product, X Money—potentially incorporating Bitcoin payments, collaboration with the Solana ecosystem, stablecoin applications, and prediction markets, among other integrations. As of now, X has not issued an official statement regarding these plans. Elon Musk previously stated that the early public version of X Money will launch in April.
The People’s Daily published an article titled “Disrupting the Capital Market: Beware of These Irregularities by Financial Self-Media Accounts,” which named certain accounts for disseminating false return information—such as “100x coins” and “earning millions per month from crypto trading”—to drive traffic to virtual currency trading. The article reiterated a prior notice issued by the People’s Bank of China and seven other departments, emphasizing that activities related to virtual currencies constitute illegal financial activities. It further pointed out that accounts and platforms providing traffic-driving or technical services for illegal virtual currency trading are suspected of violating laws and regulations, potentially jeopardizing financial security and anti-money laundering efforts.
According to CoinDesk, S&P Global Market Intelligence released a report stating that although the stablecoin market has surpassed $31.6 billion, banks’ strategic planning around stablecoins remains largely in the early exploratory phase. S&P Global’s Q1 2026 survey found that among 100 surveyed banks, only 7% are developing related frameworks, and none have launched live pilots. Key concerns for banks include risks of deposit outflows, intensifying competition from non-bank institutions, and uncertain impacts on revenue. Regarding strategic divergence, the report forecasts that large banks will explore issuing tokenized deposits, while mid- and small-sized institutions are more likely to participate via fiat on-ramp and off-ramp services. Regardless of the chosen strategy, banks must undertake extensive upgrades to their existing systems to support real-time digital asset operations.
According to CoinDesk, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice jointly filed an application with a federal court on Tuesday evening seeking to block Arizona from enforcing its state gambling laws against prediction market operator Kalshi. The two agencies argue that Kalshi’s contracts—tied to real-world events such as sporting events and elections—are, in substance, financial derivatives (swaps) subject to the Commodity Exchange Act and the federal regulatory framework, rather than state-level gambling regulations. Arizona had previously brought criminal charges against Kalshi, with a trial scheduled for April 13. Courts across the country have issued conflicting rulings: the U.S. Court of Appeals for the Third Circuit (New Jersey) has leaned toward supporting the federal regulatory position, while other district courts have remained open to the state’s arguments.