ELON MUSK WANTS TWITTER / X TO REPLACE YOUR BANK ACCOUNT. HERE'S HOW IT'LL WORK.

Summary from the TLDR newsletter

Elon Musk wants to turn X into a financial hub that will fully replace the needs for banks within a year. Musk had plans to create an online bank called X with PayPal back in July 2000, but his plans never came to fruition. X aims to allow money to flow as freely as information or conversation on the platform. The company has already secured first money transmitter licenses in several states. It aims to make the service run globally.