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区块律动Publicado em 2005-09-24Última atualização em 2024-09-05

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X Money Service Launched in 41 States as Elizabeth Warren Warns Elon Musk's Banking Ambitions Pose a Risk

Elon Musk's X (formerly Twitter) has broadly launched its financial service, X Money, across the United States. Previously in limited beta, it is now available nationwide to all Premium and Premium+ subscribers, moving out of invite-only mode. The service integrates a deposit account, peer-to-peer payments, and a debit card (virtual and optional physical) directly within the X app. Key features include 6% APY for Premium+ users (with conditions for Premium), 3% cashback on card purchases, fee-free international transfers and peer-to-peer payments, and a $15 welcome bonus. Deposits are held through partner Cross River Bank, extending FDIC insurance coverage up to $10 million per account. X has obtained money transmitter licenses in 41 states and Washington D.C., but approvals are still pending for New York and Massachusetts. The expansion faces regulatory scrutiny, notably from Senator Elizabeth Warren. She warned that Musk's management of X poses risks to consumers and financial stability if applied to X Money and criticized a perceived loophole in the 2025 GENIUS Act that could let companies like X issue stablecoins with fewer restrictions. Currently, X Money operates solely with fiat currency, with no confirmed crypto integration. However, analysts like Grayscale's Zach Pandl suggest a deeper move into cryptocurrencies is an inevitable next step for the platform's financial ambitions.

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X Money Service Launched in 41 States as Elizabeth Warren Warns Elon Musk's Banking Ambitions Pose a Risk

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