X Money officially launches in the US
X Money, a core part of Elon Musk’s mission to turn X into an “everything app,” began its official rollout yesterday. The platform offers a digital wallet and peer-to-peer payments (like Venmo), along with a metal Visa card users can emblazon with their X username. Premium+ subscribers can earn up to 6% APY and some purchases will receive 3% cash back. While definitely not the best card in fintech, we would expect X to continue rolling out features that make it interesting. X has already launched Cashtags, and we would expect the Venmo-like feature to be highly used. As Musk said in 2024: “If it involves money. It’ll be on our platform… I’m talking about, like, you won’t need a bank account.” Read more →
More Binance Crime News
According to new reporting from NYTimes, Binance adopted a policy in April 2025 that has made it harder for law enforcement agencies in some countries to obtain user information to track down scammers and solve crimes. To note: The exchange still responded directly in cases involving child sexual abuse material, terrorism or an imminent threat to life.
The reporting follows similar reporting from earlier this month in which the DOJ sent a memo warning federal prosecutors handling crypto cases that they should prepare for less assistance from Binance when seeking to freeze or seize assets.
Morgan Stanley Ether and Solana ETFs are launching today
It’s been a while since we have discussed any crypto-based ETF launches as to be honest it has mostly been a story of outflows. But today, Morgan Stanley, following the successful launch of their BTC ETF that is up to $400 million in deposits, is launching SOL and ETH ETFs at the lowest fees in the market: 0.14%. Additionally, both ETFs will stake their respective cryptoassets and pass all yield earned back to the investor. Read more →
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