In the face of fraudulent crypto tokens exploiting his brand, tech magnate Elon Musk confirmed that his social media enterprise, formerly known as Twitter, now X, has no intention of introducing cryptocurrencies. This assertion was in response to a dubious post about supposed digital currencies associated with X and Twitter. Musk was soon to ventilate the unwarranted claims on Saturday, August 5th.
The scam alert was originally initiated by DogeDesigner, warning other crypto enthusiasts to be wary of such false advertisements. It was also clarified that neither Musk nor X had ever ventured into launching a crypto token, a claim Musk robustly supported, stating, “And we never will.”
Although Musk had previously intrigued followers with the suggestion of incorporating crypto payment options on X, it was unclear if he would be creating a unique crypto token or maintaining his preference for Dogecoin. The appointment of Linda Yaccarino as the new CEO did raise some questions about the possibility of Dogecoin integration, but Musk’s recent comments reinstated positivity among the Dogecoin community.
In a twist to the Twitter narrative, Musk introduced his grand vision of turning the microblogging platform into a comprehensive application called X, or the “everything app,” formally renaming Twitter to X this past July.
Despite Musk’s assurance of no forthcoming crypto tokens, Dogecoin’s value saw a 2% spike within hours. This shows the influence this tech mogul maintains in the crypto market, even when debunking scam tokens.