WHY X MONEY IS WILLING TO LOSE MONEY TODAY

Summary from the TLDR Fintech newsletter

X has begun rolling out X Money to US Premium and Premium+ subscribers, bundling a 6% APY cash account, a 3% cashback Visa debit card, and free instant transfers between X accounts. The benefits are aggressive and land at an interesting moment for the social media app. X now sits inside SpaceX, down ~30% since IPO, and valued at $1.51T.