{"id":13277,"date":"2025-06-20T16:44:50","date_gmt":"2025-06-20T14:44:50","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=13277"},"modified":"2025-06-20T16:44:50","modified_gmt":"2025-06-20T14:44:50","slug":"todays-crypto-market-highlights","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/06\/20\/todays-crypto-market-highlights\/","title":{"rendered":"Today’s Crypto Market Highlights"},"content":{"rendered":"

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Currently in cryptocurrency, TikTok has responded to allegations from a US congressman claiming it acquired hundreds of millions of dollars of President Donald Trump\u2019s memecoin. Sentiment regarding Bitcoin is divided as the crypto landscape remains stagnant, and Elon Musk\u2019s X is planning a 2025 introduction for its financial services division.<\/p>\n

TikTok refutes TRUMP memecoin acquisitions in response to congressman’s claims<\/h2>\n

The Chinese social media site TikTok dismissed accusations<\/a> suggesting it has made purchases of US President Donald Trump\u2019s designated memecoin.<\/p>\n

The official TikTok Policy account took to X on Thursday to reject<\/a> assertions that its proprietors are acquiring the Official Trump (TRUMP) memecoin<\/a>, responding to claims made by California Democratic Party Representative Brad Sherman.<\/p>\n

Sherman had asserted<\/a> that the \u201cChinese proprietors of TikTok announced they are acquiring \u2018Trump Coins\u2019 for $300 million.\u201d<\/p>\n

Source: TikTok Policy<\/em><\/figcaption><\/figure>\n

\u201cCongressman, claiming that TikTok\u2019s owners are purchasing \u2018Trump Coins\u2019 is blatantly false and irresponsible and fails to accurately reflect a letter you<\/a> signed last month,\u201d TikTok Policy stated in reply to the remarks.<\/p>\n

Sherman\u2019s statements arose amid the news that Trump had endorsed<\/a> yet another executive order to postpone the ban or sale of TikTok.<\/p>\n

The latest extension represents the third deferment, granting TikTok an additional 90 days to locate a buyer or face a ban in the US, as reported<\/a> by online sources.<\/p>\n

Bitcoin sentiment divided as crypto market remains stagnant<\/h2>\n

Sentiment towards Bitcoin (BTC<\/a>) is at a nearly equal divide between those optimistic and pessimistic<\/a>, with attitudes towards the cryptocurrency at a low not seen since April when Donald Trump\u2019s global tariffs devastated worldwide markets, per Santiment.<\/p>\n

Santiment marketing director Brian Quinlivan remarked on Thursday that a social media examination revealed \u201cthere are merely 1.03 bullish remarks for every 1 bearish remark, which hasn\u2019t been seen since the peak of FUD [fear, uncertainty, and doubt] during the initial tariff responses on April 6.\u201d<\/p>\n

\"Coinbase,
The overall sentiment of Bitcoin bears and bulls is divided across social media. Source:\u00a0<\/em>Santiment<\/em><\/a><\/figcaption><\/figure>\n

He added, however, that this is \u201cgenerally a bullish indicator\u201d as markets \u201chistorically trend in the opposite direction of retail\u2019s anticipations.\u201d<\/p>\n

Simultaneously, a poll on X by cryptocurrency analyst Matthew Hyland on Thursday revealed a nearly equal split between those who believe Bitcoin will surge to an all-time peak above $114,000 or drop back to $94,000.<\/p>\n

Bitcoin has remained stable at approximately $104,500 over the past week, showing only a 0.2% increase during the last seven days as of early Friday.<\/p>\n

Musk\u2019s X intends to launch payment and investment features by 2025 \u2014 Report<\/h2>\n

Elon Musk\u2019s social platform, X, is set to incorporate various financial services<\/a>, allowing users to conduct payments and investments directly within the application.<\/p>\n

In a recent conversation with the Financial Times<\/a>, X CEO Linda Yaccarino mentioned the platform\u2019s projected 600 million users will eventually \u201chave the capability to manage [their] complete life on the platform,\u201d from transferring funds to overseeing investments.<\/p>\n

The company is also exploring the possibility of launching an X-branded credit or debit card, potentially later this year.<\/p>\n

\"Coinbase,
X.com is projected to have 611 million active users monthly as of 2025. Source:\u00a0<\/em>Demandsage<\/em><\/a><\/figcaption><\/figure>\n

X\u2019s venture into financial services is hardly surprising, considering Musk has already confirmed beta testing for the X Money<\/a> payment and banking application.<\/p>\n

In response to a May 25 social media update, Musk stated<\/a> \u201cextreme caution is essential\u201d in the testing phase as \u201cpersonal savings are at stake.\u201d<\/p>\n

The official X Money account hints at a 2025 launch. Yaccarino informed the Financial Times that the X Money payment application would initially roll out in the US, referring to it as a \u201cwhole commerce ecosystem and a financial ecosystem.\u201d<\/p>\n