X Money Rolls Out Cash Sweep Program to Premium+ Users With Up to $10M in FDIC Coverage

According to Bitcoin.com News, Elon Musk's X Money has rolled out its Cash Sweep Program to Premium+ users, offering up to $10 million in Federal Deposit Insurance Corporation (FDIC) coverage—roughly 40 times the standard $250,000 limit. The service pays 6% annual percentage yield on deposits and operates through a Visa partnership, with standard deposits held at Cross River Bank insured up to $250,000 per person. A full public rollout to all X users is targeted for mid-2026. The expansion faces mounting regulatory scrutiny, with Senator Elizabeth Warren recently raising concerns about consumer protections and fund safeguarding.
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