Elon Musk Confirms X Money Testing Shows 6% Deposit Yield as Eric Trump Criticizes U.S. Banks Over Stablecoin Returns

Elon Musk reposted a message on March 5 confirming that circulating screenshots from X Money's internal testing are authentic, showing the product may offer up to 6% annualized deposit yield and a debit card with cashback rewards, BlockBeats reports. Eric Trump posted the same day criticizing U.S. banks including JPMorgan and Wells Fargo, claiming their political lobbying aims to block Americans from higher returns and suppress stablecoins to preserve their monopoly. The dispute emerged amid ongoing legislative debates over the Cryptocurrency Market Structure Act, also known as the CLARITY Act, particularly around how stablecoin yields should be treated.