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Elon Musk has indicated that his social media platform X (previously known as Twitter) does not intend to introduce crypto tokens, following a post concerning dubious X and Twitter-related digital currencies on Saturday, Aug. 5.
In reply to a post by DogeDesigner, Musk tackled the matter of fraudulent tokens such as X (X) and TwitterDAO (TWITTER) that falsely assert ties to the social media platform. DogeDesigner had warned the crypto community to exercise caution regarding articles about scam tokens and clarified that neither Musk nor X had ever issued a crypto token. In his response, Musk stated, “And we never will.“
Earlier, Musk had hinted at the possibility of incorporating cryptocurrency as a payment method on X. Traders were left speculating whether he would launch a specific crypto token or continue to favor Dogecoin (DOGE).
And we never will
— Elon Musk (@elonmusk) August 5, 2023
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However, with Linda Yaccarino’s recent appointment as the new CEO, some uncertainty emerged regarding the potential for DOGE integration. Nevertheless, Musk’s latest remarks have rekindled positive sentiments among Dogecoin investors.
Musk recently shared his ambitious plan to evolve Twitter into a comprehensive platform referred to as X, the so-called “everything app,“ officially rebranding Twitter to X in July.
Related: Agence France-Presse sues Elon Musk and X/Twitter over compensation for news
Following Musk’s affirmation that he has no plans to launch a crypto token, the price of Dogecoin saw an increase of over 2% within a few hours, as reported by CoinMarketCap.
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