Wall Street banks are hoping this is the week when they can start to recover more from the bad bets they made on Elon Musk’s 2022 Twitter buyout.

Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two sources with knowledge of the matter said Friday. Morgan Stanley bankers have reached out to investors ahead of a planned sale next week, the people added.

Musk once dreamed of making X the “biggest financial institution in the world,” taking the first step of launching a peer-to-peer payments competitor to PayPal’s Venmo, Block’s Cash App and bank-owned Zelle.

Elon Musk, world's richest man, has sent an email to his employees working with X and expressed concerns about the financial health of the company. According to an internal email sent by Elon Musk to employees,

JPMorgan Chase CEO Jamie Dimon and Tesla CEO Elon Musk have resolved their past differences with a reconciliation at the World Economic Forum, where Dimon expressed admiration for Musk's enterprises.

Musk reportedly tells X staff 'we're barely breaking even' as the big banks start getting antsy over their debt When you buy through links on our articles, Future and its syndication partners may earn a commission.

Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two people with knowledge of the matter said on Friday. Morgan Stanley bankers have contacted investors ahead of a planned sale next week, the sources said.

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The social media company said it would start a peer-to-peer payments service, moving to expand the app’s abilities.

Elon Musk's DOGE is taking aim at the U.S. penny, pointing out that it costs more to manufacture than it's worth.

Wall Street banks are preparing to sell up to $3 billion in debt linked to X, Elon Musk's social media platform. Morgan Stanley has contacted investor