NYDFS tells X Money to scrap interest payments on balances from October 1

New York’s financial regulator (NYDFS) has informed X, owned by Elon Musk, of its inability to pay interest on X money balances belonging to New York customers. NYDFS went on to say that the yield on such accounts will drop to 0.00% on October 1, 2026. The announcement yanks one of X’s major perks from...