If X implements a social + payments + securities/crypto trading + mini-program ecosystem, where is the real crisis for crypto exchanges? The other day I opened Twitter and it already showed me to try the X Wallet; opening it costs $25. Even if I haven’t tried it yet, I can imagine its next ambitions.



1. Retail user traffic entry is completely choked off (traffic “pipeline”) Exchanges’ most profitable business is retail users. If retail users are on X
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