Elon Musks Social Media Platform X Denies Launching Crypto Token

Musk’s Social Media Platform X Has No Plans of Launching a Crypto Token

Contrary to previous rumors, Elon Musk’s social media platform, X, has stated that it has no intentions of launching a crypto token. This decision came after a warning from a Dogecoin graphic designer who exposed potential scam tokens falsely claiming to be associated with X. Musk confirmed that neither he nor X has ever launched a crypto token.

Key Points:

A Dogecoin graphic designer warned of scam tokens falsely claiming association with Musk’s social media platform, X.
Musk affirmed that X has no plans to launch any crypto token.
Musk has publicly expressed support for Dogecoin and hinted at integrating crypto as a payment method on X.
Several low-cap tokens referencing X, Twitter, or Musk have emerged.
The confirmation from Musk should end speculation about an X crypto token.

Despite Musk’s statement, DOGE experienced a slight boost, with the token’s value increasing by over 2% after his tweet. In the last 24 hours, DOGE has traded between $0.0729 and $0.0758 with a trading volume decrease of 10%.

Hot Take:

Musk’s denial of X launching a crypto token is a clear indication of his stance on the matter. This announcement should help thwart any potential scams and provide clarity to crypto enthusiasts.