Today, I saw a lot of friends saying that exchanges or brokerage competitors might turn into X. Mainly because X not only provides search but also offers what looks like 'BUY' and 'SELL' buttons for trading. But does this mean X is going to do trading? I don’t think so. 1. X itself is not a broker or brokerage firm and does not have FINRA and SEC-authorized securities trading licenses to directly execute stock trades for users. In fact, X hasn’t even applied for trading-related licenses. 2. X holds payment and money transfer licenses. X’s subsidiary has indeed obtained money transfer and payment licenses in certain U.S. states, allowing it to handle payments, transfers, storage, or exchange of certain assets (including cryptocurrencies) under limited conditions. But this is not a trading license. For example, X can currently enable tipping with cryptocurrency, which is a similar function, but it doesn’t provide trading services. 3. X’s positioning is as a platform that integrates information and payment capabilities. It doesn’t make sense for X to engage in trading itself—it would increase regulatory pressure. Plus, not everything needs to be done in-house. It’s very likely that X will connect with third-party trading services, and the displayed Buy and Sell buttons could allow users to jump to partnered brokers or exchanges. Also, Elon is more inclined to build a financial operating system rather than a trading platform. Otherwise, PayPal would have made trading much easier back in the day. @bitget VIP, lower fees, crazier perks