Elon Musk disappoints fans with new X payments feature

Elon Musk disappoints fans with new X payments feature originally appeared on TheStreet.

Elon Musk confirmed on May 25 that the social media platform will soon unveil a payments feature.

As the ‘Tesla Owners Silicon Valley’ informed on X that Musk has confirmed X (formerly Twitter) is launching X Money soon, the billionaire responded, “This will be a very limited access beta at first. When people’s saving are involved, extreme care must be taken.”

X CEO Linda Yaccarino said Jan. 28 that X Money will be launched later in 2025, in partnership with Visa. The payments feature would allow peer-to-peer payments via debit card and instantly transfer funds to your bank account.

However, none of the above announcements mentioned Dogecoin, the meme coin much adored by Musk, which disappointed crypto enthusiasts.

In fact, when President Donald Trump appointed Musk as the de facto head of the department tasked with slashing government expenditure, it was called the Department of Government Efficiency (DOGE). The nomenclature led many to speculate that the U.S. government, or at the least the department itself, could introduce crypto payments. However, there was no such development.

Remember that Musk acquired Twitter for $44 billion on Oct. 7, 2022, merging it into a new parent company named X Corp. He then rebranded Twitter to X on July 23, 2023.

On March 28, Musk’s artificial intelligence (AI) company, xAI, acquired X in an all-stock transaction that valued X at $33 billion while factoring in its $12 billion debt.

Musk is the world’s wealthiest person, whose total net worth is $374 billion. He is not only the owner of X but also of the electric vehicle and clean energy company Tesla and the space tech company SpaceX.

Elon Musk disappoints fans with new X payments feature first appeared on TheStreet on May 28, 2025

This story was originally reported by TheStreet on May 28, 2025, where it first appeared.