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Did Elon Musk Just Quietly Launch His Own Bank for 600 Million People?

11 Jul 2026 · 3 min

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2:58

The video explains Elon Musk’s recent rollout of X Money, a financial service for premium X (formerly Twitter) users in the United States that debuted on June 25, 2026. X Money offers a promotional 6% annual yield on deposits with no minimum balance, higher than typical high‑yield savings accounts. The launch gained viral attention when a stranger sent Musk $25 through the app, prompting a simple “thanks” reply. Premium users receive a black metal Visa card engraved with their X handle, providing 3% cash‑back, no foreign transaction fees, and free ATM withdrawals. Deposits are held at a regulated New Jersey bank and are insured up to $250,000; larger balances are split across a network of banks, extending coverage up to about $10 million. Musk has confirmed that crypto and stock trading will be added later this year, allowing users to tap a ticker in any post to trade without leaving the app. The announcement previously caused a 62% surge in Dogecoin trading volume. The video notes political scrutiny, citing a letter from Senator Elizabeth Warren questioning the sustainability of the 6% rate, and highlights that New York’s financial regulator is still reviewing the X Money license. Finally, the host promotes an AI‑driven automated trading tool called Claude Code, offered for $1, encouraging viewers to click a link in the bio.

Chapters

So Elon Musk just launched an app that pays 6% on your money, and its first rival moment was a stranger sending him $25 just because he could. On June 25th, X Money quietly went live for premium subscribers in the United States. Within hours, there was a guy named Corey, and he posted this, quote, call me an idiot, but I just sent $25 directly to Elon Musk. richest man in the world using X Money for no other reason than I just can. Musk's entire reply was, thanks. That tiny payment was the opening bell. X Money pays 6% on deposits with no minimum. A typical high-yield savings account pays 4.5%, maybe 5%. Now that 6% is probably a promo rate, of course. Senator Elizabeth Warren already sent a letter demanding to know how X can afford it, but all of this is live. Right now, there's a black metal Visa card engraved with your X handle. 3% cash back, no foreign fees, free ATM withdrawals. Your money sits at a real regulated bank in New Jersey insured up to the normal $250,000, and premium users get more. The app spreads bigger balances across a network of banks until you've covered up to $10 million. That's 40 times the normal limit when it comes to coverage. Now, here's the part built for people like us. This launch was dollars only, but Musk already confirmed that crypto stock trading shipped this year. The plan: you tap a ticker symbol inside of any post and you trade it without ever leaving the app. And we've seen the preview. When Musk confirmed a date back in March, Dogecoin's trading volume exploded 62% in one day to almost a billion dollars off of a single announcement. The actual launch is ahead, so if you hold the coins this crowd loves, understand the setup: 600 million people one tap away from a trade. I mean, that seems like a really good setup. Let's take a step back for a second though. Musk paid $44 billion for Twitter, promising an everything app, and everyone laughed. Not even 4 years later, the first piece just shipped: money licensed in more than 40 states and reports that simply receive money from a friend unlocks your own account. A payment app that Spreads like a meme. There's only one domino left. New York, the biggest financial market on Earth, is still reviewing the X license. The day it falls, every post on X becomes a trading floor. And by the way, if you want to learn how we make money on all of this—the future of finance, the great wealth transfer—and we use AI automated trading to capitalize on it with Claude Code—we give it away for $1. Go to the link in my bio, tap that link. We give it away for $1.