UsePaid pauses X Money payments after $1.54 million volume spike

UsePaid paused payments through X Money after experiencing issues following a spike in volume. UsePaid's volume reached $1.54 million in 24 hours, a 26-fold increase over previous records. UsePaid did not explain why it paused X Money payments or detail the payment issues. UsePaid said existing balances remained safe. UsePaid said fees would continue to accrue. UsePaid said it was working on a solution. UsePaid said users would have access to a temporary claims portal in the meantime. Twenty-four hours earlier, UsePaid said Automated Clearing House deposits were failing to credit. UsePaid said it would have to cap payouts at $750 per person until those deposits landed on September 28. UsePaid lets users redirect creator fees from token launches on Pump Fun to users on X through X Money. More than $6,000 was sent to crypto influencer Tiffany Fong in one instance. Another X user said they received almost $33,000 in UsePaid payments. X Money launched on July 27 for U.S.-based X users subscribed to Premium and Premium+. Earlier this month, the New York Department of Financial Services told X that it could not pay bank account-like interest on deposits from New York residents that were not held in bank accounts. X then offered New Yorkers short-term compensation of $300 to avoid capital flight risk. X said the payment did not constitute APY or interest.