July 4, 2026

Elon Musk’s X Money launches with 6% APY and up to $10 million FDIC coverage — should your bank be worried?

two people holding hands in front of the golden gate bridge
Josh Felise / Unsplash

X Money makes big promises — but the fine print matters. And Sen. Elizabeth Warren wants to know how Musk can pay a rate no bank in America can match.