Sen. Warren questions Elon Musk on X Money's crypto integration

U.S. Senator Elizabeth Warren, a noted cryptocurrency critic, has requested information from Elon Musk regarding X Money. According to Cointelegraph, Warren pointed out that the potential integration of stablecoins and cryptocurrencies into X Money could pose risks to the financial system and U.S. national security. She specifically asked whether the company plans to issue its own stablecoin. Warren also emphasized that stablecoin deposits are not covered by depositor protection and questioned how the platform would fund a proposed high-yield savings offering with a 6% annual interest rate.