{"id":76050,"date":"2026-07-28T11:59:43","date_gmt":"2026-07-28T11:59:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/x-money-goes-live-in-41-states-as-elizabeth-warren-warns-elon-musks-bank-ambitions-pose-risk\/"},"modified":"2026-07-28T11:59:43","modified_gmt":"2026-07-28T11:59:43","slug":"x-money-goes-live-in-41-states-as-elizabeth-warren-warns-elon-musks-bank-ambitions-pose-risk","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/x-money-goes-live-in-41-states-as-elizabeth-warren-warns-elon-musks-bank-ambitions-pose-risk\/","title":{"rendered":"X Money Goes Live in 41 States as Elizabeth Warren Warns Elon Musk&#8217;s Bank Ambitions Pose Risk"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">X Money exited its Premium+-only beta on July 27, launching nationwide for all Premium subscribers.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">New users get up to $10 million in FDIC-linked coverage through Cross River Bank\u2019s sweep program.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Sen. Elizabeth Warren\u2019s oversight warnings persist as X Money, live in 41 states, eyes full nationwide reach.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Beta Days Are Over<\/h2>\n<p>X, the social platform formerly known as Twitter, first opened X Money to a small subset of Premium+ subscribers in late June for internal testing, a beta Bitcoin.com News <a href=\"https:\/\/news.bitcoin.com\/x-money-premium-10-million-fdic-insurance\/\">covered at launch<\/a>. That trial run was explicitly done as an effort to facilitate feedback-gathering ahead of yesterday\u2019s broader release.<\/p>\n<p>The expansion delivers on that promise with X Money now being made available to both standard Premium and Premium+ tiers across the country, moving the product out of invite-only status for the first time.<\/p>\n<p><\/p>\n<p>The service bundles a deposit account, peer-to-peer payments and a debit card inside the X app itself, part of a strategy Musk has pursued since acquiring the platform to keep users from ever needing to leave it. X first signaled the plan in January 2025, when Visa signed on as its inaugural payments partner. Then-X CEO Linda Yaccarino called it \u201canother milestone for the Everything App,\u201d while Visa said its Visa Direct network would let account holders \u201cfund and transfer money in real-time with their debit card.\u201d That partnership\u2019s Visa Direct rails now underpin the debit-card transfers rolling out to Premium users this week.<\/p>\n<h2>What Premium Users Get<\/h2>\n<p>Premium+ subscribers earn a 6% annual percentage yield (APY) on their balance immediately, while standard Premium users can unlock the same rate once they meet direct-deposit requirements. Every account comes with a virtual X Card that slots into Apple Wallet, plus the option to order a customizable physical metal card carrying the user\u2019s handle. Card purchases earn 3% cash back, transfers carry zero foreign-transaction fees, and new signups receive a $15 welcome deposit.<\/p>\n<p>X Money also promises fee-free, limit-free transfers between users on the platform. \u201cYour money, on the world\u2019s most powerful network,\u201d the official X Money account posted alongside the rollout, tying the product directly to X\u2019s built-in social distribution.<\/p>\n<h2>Where the Money Sits and Who\u2019s Watching<\/h2>\n<p>Deposits sit at Cross River Bank, a regulated partner that runs a cash-sweep program spreading funds across multiple institutions to extend FDIC coverage up to $10 million per account, roughly 40 times the standard $250,000 limit. X has now secured money-transmitter licenses in 41 states and Washington, D.C., though New York and Massachusetts remain holdouts.<\/p>\n<p>That said, the expansion hasn\u2019t quieted regulatory scrutiny given Sen. Elizabeth Warren has pressed X over its banking ambitions, <a href=\"https:\/\/www.independent.co.uk\/tech\/elon-musk-x-payment-platform-money-b3022689.html\" target=\"_blank\" rel=\"noopener noreferrer\">warning<\/a>:<\/p>\n<blockquote>\n<p>If your track record operating X is any indication of how you\u2019ll operate X Money, consumers, our national security, and the stability of the financial system may be at risk.<\/p>\n<\/blockquote>\n<p>Her letter also flagged a \u201csuspicious carveout\u201d in the GENIUS Act, the 2025 federal stablecoin law, that she said lets companies like X issue stablecoins without the same approvals traditional issuers face, alongside concerns tied to Cross River Bank\u2019s prior FDIC enforcement history.<\/p>\n<h2>What\u2019s Next<\/h2>\n<p>X Money remains a fiat-based product for now, with no stablecoin or token integration confirmed. But Grayscale Head of Research <a href=\"https:\/\/news.bitcoin.com\/grayscale-predicts-elon-musks-x-could-use-crypto-to-power-next-wave-of-financial-ecosystems\/\">Zach Pandl argued<\/a> the current build is a starting point rather than an endpoint, adding:<\/p>\n<blockquote>\n<p>Although X Money will start with traditional fiat\/bank-based infrastructure, an eventual move toward deeper crypto integrations seems inevitable, in our view. Crypto will play a central role in this evolution.<\/p>\n<\/blockquote>\n<p>With Premium and Premium+ users now onboarded nationwide, the next major data point to look out for is whether X Money reaches every U.S. market (since New York and Massachusetts remain unresolved) and whether Musk\u2019s banking rails eventually connect to the crypto assets the company has floated integrating since the product\u2019s earliest pitch.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/x-money-exits-beta-premium-users-6-percent-apy\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways X Money exited its Premium+-only beta on July 27, launching nationwide for all Premium subscribers. New users get up to $10 million in FDIC-linked coverage through Cross River Bank\u2019s sweep program. Sen. Elizabeth Warren\u2019s oversight warnings persist as X Money, live in 41 states, eyes full [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":76051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76050"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=76050"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/76051"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=76050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=76050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=76050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}