US EditionEU says it is probing corporate structure of Musk's X months after xAI deal
- In 2025, social media platform X, formerly Twitter, plans to launch X Money, a digital wallet and payment service in the United States.
- This follows Elon Musk's 2022 takeover and rebranding of Twitter amid advertiser departures concerned about content safety and moderation.
- X Money plans to enable peer-to-peer payments, investing, creator tipping, and will introduce branded credit and debit cards associated with the platform before the end of the year.
- CEO Linda Yaccarino said users will soon 'transact their whole financial life on the platform' as a commerce and financial ecosystem emerges.
- This financial expansion, supported by a Visa partnership and regulatory approvals in 38 states, could challenge existing payment and banking services.
77 Articles
77 Articles
According to an original report, the mobile app intelligence firm, App Sensa, has discovered intriguing references in the X application code.It seems that the app has been preparing to introduce a physical debit card that can be customized with the X user name.The app code not only mentions this customization, but also details functions such as verifying the sending status of the card, activating it, reporting it as lost or stolen, blocking it a…
New EU inquiry into Musk's X acquisition opens the door to a bigger fine
European Union regulators are scrutinizing Elon Musk’s X after the company’s $33 billion buyout by xAI. Musk’s X has already been facing a steep fine from the European Commission under the Digital Services Act, but a new request from regulators could increase the fine further. EU tech enforcers sent additional questionnaire to the corporation Thursday. This recent questioning stems from how xAI’s acquisition of X in March changes the size of the…
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