Elon Musk gives X employees one year to replace your bank
www.theverge.com
Musk wants your “entire financial life” on his platform.

“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!

  • someguy3@lemmy.caEnglish
    12·
    1 year ago

    I think because they’re a payment processor. Banks store large amounts of money, make loans, etc.

    • givesomefucks@lemmy.worldEnglish
      191·
      1 year ago

      It’s going to be like a crypto or PayPal wallet where you can store a balance, it’s just not insured or regulated like a bank.

      I saw an article a while ago where a concerning amount of people were doing that instead of a bank account.