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Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’ (www.theverge.com)

submitted 1 year ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

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“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

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[–] TORFdot0@lemmy.world 7 points 1 year ago (1 children)

Unless twitter gets an actual bank charter and is regulated by the FDIC, X wouldn’t get a cent from me. Even if they claimed to pay incredible APY. Elon musk would steal billions from his customers and wouldn’t blink. And if your deposits aren’t insured then your money isn’t real.

[–] Frozengyro@lemmy.world 11 points 1 year ago

Even if he did all that, why would you ever give him anything?