Fact check: Why is musk asking for access to the feds payment systems?

1. Summary of the results

The question appears to be based on a misunderstanding. Musk is not directly asking for access to federal payment systems for X (formerly Twitter). Instead, he is pursuing two separate initiatives:

1. X Money Account: A partnership with Visa to create digital wallet and peer-to-peer payment capabilities ^[1], which is already licensed in 41 states and registered with FinCEN ^[2].

2. Treasury Access Request: Through his "Department of Government Efficiency" (DOGE), Musk's team has been requesting access to Treasury payment systems that control over $6 trillion in annual government payments ^[3].

2. Missing context/alternative viewpoints

Several crucial pieces of context are missing from the original question:

• Scale of Treasury Systems: These systems processed nearly 1.3 billion payments totaling $5.4 trillion in 2023 fiscal year ^[4].
• Unprecedented Nature: Experts note that using such systems for political agendas would be unprecedented, as they're typically controlled by career officials ^[4].
• Personnel Impact: The top Treasury career official, David Lebryk, is resigning due to conflicts over these access requests ^[5].
• Broader Vision: Musk's ultimate goal is to create an "everything app" similar to China's WeChat ^[1], with plans to offer comprehensive financial services including loans, mortgages, and investment options ^[6].

3. Potential misinformation/bias in the original statement

The original question conflates two separate initiatives, leading to potential confusion:

• Commercial Initiative: X's partnership with Visa is a legitimate business venture ^{[1] [2]} that follows standard regulatory procedures.
• Government Initiative: The Treasury access request is more controversial and politically charged ^[7].

Those who benefit from this confusion include:

• Traditional Banks: Who might use the confusion to resist X's entry into financial services
• Political Opponents: Who could use the Treasury access controversy to challenge Musk's broader initiatives
• X/Musk: Who might benefit from keeping these two initiatives separate in public discourse to avoid regulatory scrutiny ^[8]