Musk Hints at X Money's Internal Testing; Eric Trump Criticizes U.S. Banks

On March 5, Elon Musk shared a post suggesting that leaked images of X Money's internal testing are genuine. According to BlockBeats, the images indicate that X Money offers an annual deposit yield of up to 6% and includes a debit card feature with cashback benefits. Meanwhile, Eric Trump, son of U.S. President Donald Trump, criticized major U.S. banks such as JPMorgan and Wells Fargo this morning. Eric Trump claimed that the banking industry's political lobbying aims to prevent Americans from accessing higher yields and attempts to undermine stablecoins to maintain their monopoly. Recently, a new debate has emerged over stablecoin yields amid the legislative process of the Cryptocurrency Market Structure Act, also known as the CLARITY Act.