Warren Demands Musk Answer X Money Questions by April 21

Senator Elizabeth Warren told Elon Musk on Tuesday that his track record running X suggests consumers and the financial system may be at risk once X Money launches.

Warren sent Musk a letter demanding he answer more than a dozen questions by April 21 about X Money's features, following Musk's recent claim that the platform would debut this month and his sharing of another user's speculation about crypto integration.

X has already secured money transmitter licenses in over 30 US states. Musk previously stated X could become the biggest financial institution in the world, positioning the platform as an everything app like China's WeChat.

Warren's letter comes after she released a comprehensive report detailing over 100 examples of unethical or potentially corrupt actions benefiting Musk or his companies during his time leading the Department of Government Efficiency. That cost-cutting organization targeted the Consumer Financial Protection Bureau through staff reductions and operational disruptions while Musk's company was developing a financial product.

Warren specifically criticized a carveout in last year's Genius Act stablecoin legislation, saying it enables private commercial companies like X to issue a stablecoin without some of the required approvals and guardrails that would apply to similarly situated public commercial companies. Musk officially departed the White House last week following his period as a special government employee during the Genius Act debate, creating pressure for him to respond to Warren's April 21 deadline.