Yet. It’s not a competitor yet. Musk has been open about working towards making it a competitor.
Again because last time went so well. And Elon musk is known for not liking and failing at complying to regulations, and that man wants to run a financial service provider? Hahahaha
Last time he got bought out for hundreds of millions of dollars, so yeh I’d say it went pretty well.
And then he continued to work on his x.com ideas, to be kicked out because he wasn’t able to produce a product. Obviously he made money, but his idea failed. And him making money, doesn’t change anything about his history with not complying with regulations and his plan to run in the modern environment a financial service. 9/11 changed the finance world. Obviously musk doesn’t quite know that.