US senators questioned Musk about the X Money payment feature, focusing on the risks associated with the stablecoin plan.

CoinFeed reported on April 16th that, according to Cointelegraph, U.S. Senator Elizabeth Warren sent a letter to Elon Musk questioning the upcoming payment feature X Money from the X platform, focusing on the potential risks to the financial system and national security posed by its potential integration of stablecoins and cryptocurrencies. In her letter, Warren inquired whether X platform planned to leverage the provisions of the GENIUS Act that allow private companies to issue stablecoins to launch its own. She pointed out that X Money's beta preview showed a 6% deposit rate, and that its partner, Cross River Bank, had been subject to FDIC enforcement. Given the current federal funds rate of 3.5%-3.75%, the investment methods used to achieve this yield are unclear.