- Stocktwits launches Cryptotwits, expanding its 17-year-old trading platform to focus on digital assets.
- Founder Howard Lindzon returns as CEO, selling off brokerage accounts and refocusing on community features and crypto data tools.
- The new product offers sentiment indicators, coin watchlists, and partnerships with firms like Gemini and Grayscale to engage a younger, crypto-curious user base.
Stocktwits has introduced Cryptotwits, marking its biggest expansion in recent years by broadening its social platform to include digital assets. The move follows the return of founder Howard Lindzon to the role of CEO in 2024, after an eight-year break. The decision aims to appeal to a new wave of traders interested in the crypto market.
After stepping down as CEO in 2016, Lindzon returned when he felt the company was straying too close to brokerage activities. Upon resuming the role, he sold more than 15,000 brokerage accounts to Public, telling Forbes, “Let’s just focus on what we do well—the ‘degenerate’ betting economy, crypto, having fun—and then AI will make our data more useful.” Since his return, monthly active users increased by 20%, with the total user base now surpassing 10 million, mainly in the 25 to 35 age range.
Lindzon describes today’s environment as shaped by a so-called “degenerate economy,” where high-risk trading, speculative bets, meme stocks, and coins have become widespread among younger investors. He even built a Degenerate Economy Index, including companies like Robinhood, Coinbase, Reddit, and Bitcoin, which increased by 38% in the last year. Lindzon explained, “I do not endorse crypto. I don’t endorse 99% of the stuff that kids are playing with that they don’t understand. But I believe that these products are coming whether we like them or not. So we better learn how to trade them.”
Cryptotwits features over 17,000 coin pages, new sentiment tools that blend message volume with trader outlook, and customizable watchlists. Planned additions include scores to warn users of risky projects and tools to detect market manipulation.
According to the source, partnerships at launch involve Gemini, Grayscale, CoinGecko, MoonPay, Alto CryptoIRA, and Helix App, with Grayscale set to co-sponsor a new Stocktwits market insight show.
Much of the crypto conversation already happens on platforms like X (formerly Twitter), Telegram, and Discord. Lindzon acknowledged this, saying, “Hats off to Telegram and Twitter (X), but that’s just an opportunity for Stocktwits, for this next generation of curious people who are already here and just discovering crypto.” He noted that Stocktwits’ stricter moderation and longer track record are key factors in building user trust.
Despite the platform’s efforts to create a more controlled environment, Lindzon recognizes that the broader “degenerate economy” is fueled by fast-paced and sometimes reckless behavior. “Everybody’s gone for the fast buck. Everybody can now be Goldman Sachs,” he remarked, highlighting a market shift where platforms must set their own boundaries.
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