Categories: News

Elon Musk Clarifies That X Will Never Launch A Crypto Token

Key Points:

  • Elon Musk denies X crypto token plans.
  • X explores an in-app trading hub with financial partners.
  • Musk’s clarity amidst X’s financial integration buzz.
In a recent statement on his social media platform, entrepreneur Elon Musk dismissed speculations about X (formerly Twitter) introducing its own cryptocurrency.
Elon Musk Clarifies That X Will Never Launch A Crypto Token 2

Responding to a cautionary message from user @cb_doge, who urged vigilance against fake tokens and misleading articles, Musk firmly asserted, “Elon Musk and X never launched a crypto token. And we never will.”

Musk, a prominent figure in the cryptocurrency world, particularly associated with Dogecoin, has a history of influencing market trends. He once playfully transformed then-Twitter’s logo into the Dogecoin emblem, triggering a surge in the meme coin’s value.

However, Musk’s forthcoming venture, X, is reportedly seeking collaboration with a major financial data provider to establish a trading hub within the platform, according to Semafor.

Documents and insider sources revealed that X approached financial-data companies to solicit proposals involving real-time stock data and financial content integration.

Although potential partners are offered access to millions of highly qualified users, no financial compensation is promised. Interested firms were requested to specify their investment commitment to the project.

Musk tempered these reports on X, asserting that “no work is being done on this to the best of my knowledge.” While not a definitive denial, this statement suggests that such a service might be in the pipeline, albeit not immediately.

This isn’t the first time the idea of an X-based trading hub has surfaced. Earlier this year, social investing platform eToro announced plans to offer trading services for cryptocurrencies and other assets directly through X, an arrangement aimed at users of the then-named Twitter platform.

As X continues to evolve, the integration of financial services could mark another significant step in its transformation.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

43 minutes ago

Crypto Advisory Council Now A White House Position Attracting Leaders

Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…

1 hour ago

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

2 hours ago

SEC Chair Gary Gensler Will Lose Power From January 20

SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…

2 hours ago

MicroStrategy Convertible Notes Now Out of Stock With $3B Raised

The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…

2 hours ago

Qubetics, Cosmos, and Chainlink: Why These Cryptos Are Your Best Bet for November 2024

Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…

5 hours ago

This website uses cookies.