Elon Musk says that his social media platform X, formerly known as Twitter, is a better source of information than the traditional news media. “I don’t read the legacy media anymore,” boasts Musk, who asserts that X has become “the collective consciousness of humanity.”
The social media platform X announced on Tuesday it was stepping into the financial ecosystem with the help of Visa by launching its own digital wallet.
X is teaming up with Visa to soon offer a system for real-time payments on the social media platform — signaling some progress in a yearslong vision from billionaire owner Elon Musk to create an “everything app.
X is one step closer to finally launching its payments platform. According to X CEO Linda Yaccarino, the X Money service will debut “later this year” with Visa announced as its first partner.
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The social media company said it would start a peer-to-peer payments service, moving to expand the app’s abilities.
X’s deal with Visa, the largest U.S. credit card network, was announced by CEO Linda Yaccarino and will be dubbed X Money Account.
“In study after study, as well as our lived experiences, X has become a platform that promotes hate, antisemitism, and societal division. Under the leadership of Elon Musk, X has reduced content moderation, promoted white supremacists, and re-platformed purveyors of conspiracy theories.”
Wall Street banks, finally within striking distance of offloading debt tied to X, have a sweetener on offer for potential buyers: a claim on the social-media platform’s stake in Elon Musk’s artificial intelligence venture.
Social platform X is "barely breaking even," owner Elon Musk emailed employees, the Wall Street Journal reported. "Our user growth is stagnant, revenue is unimpressive, and we're barely breaking even,
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