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March 30, 2025
Billionaire tech tycoon Elon Musk announced on X (formerly Twitter) that xAI, his artificial intelligence (AI) company, has acquired X. Critics are concerned that xAI, which developed the AI chatbot Grok that is built into X, will now have direct access to data shared by more than 600 million active users of the social media platform.
X currently shares user data with Au10tix, an Israeli cyber security company that verifies government ID from users who pay to have verified blue check accounts.
Elon Musk aims to create a payments processing mechanism to enable people to get rid of their bank accounts and use X instead. His stated goal is “Comprehensive communications and the ability to conduct your entire financial world” on X. No more switching apps. No more banks. Just X. He aims to create a money database with real-time processing, low fraud, and a system so big, it could become “half the global financial system.” Elon wants X to beat WeChat, the Chinese app that’s used for texting, shopping, sending money, paying bills, and even borrowing cash, which over a billion people use.
Venture capital firms Andreessen Horowitz (a16z) and Sequoia Capital, which have established crypto-focused investment funds, are invested in Musk’s xAI.
Continue to full article:
Billionaire tech tycoon Elon Musk announced on X (formerly Twitter) that xAI, his artificial intelligence (AI) company, has acquired X. Critics are concerned that xAI, which developed the AI chatbot Grok that is built into X, will now have direct access to data shared by more than 600 million active users of the social media platform.
X currently shares user data with Au10tix, an Israeli cyber security company that verifies government ID from users who pay to have verified blue check accounts.
Elon Musk aims to create a payments processing mechanism to enable people to get rid of their bank accounts and use X instead. His stated goal is “Comprehensive communications and the ability to conduct your entire financial world” on X. No more switching apps. No more banks. Just X. He aims to create a money database with real-time processing, low fraud, and a system so big, it could become “half the global financial system.” Elon wants X to beat WeChat, the Chinese app that’s used for texting, shopping, sending money, paying bills, and even borrowing cash, which over a billion people use.
Venture capital firms Andreessen Horowitz (a16z) and Sequoia Capital, which have established crypto-focused investment funds, are invested in Musk’s xAI.
Continue to full article:

Elon Musk’s AI Company Acquires X, Allowing It Access to the Data of 600 Million Active Users
Musk aims to create a payments processing mechanism to enable people to get rid of their bank accounts and use X instead. Elon wants X to beat WeChat, the Chinese app that’s used for texting, shopping, sending money, paying bills, and even borrowing cash, which over a billion people use.
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