Elizabeth Warren Warns Elon Musk’s X Money Threatens ‘Stability of the Financial System’
In brief Senator Elizabeth Warren raised concerns about X Money’s planned April launch, citing consumer protection, national security, and financial stability risks. Warren highlighted X Money’s acquisition of 40 state money transmitter licenses and preview materials suggesting it will offer deposit accounts with up to 6% APY. The Senator also flagged a “suspicious carveout” in…