Elon Musk, the CEO of X (formerly known as Twitter), has quashed rumors about the platform launching its own crypto tokens.
In response to a post by DogeDesigner on Saturday, Aug. 5, Musk addressed the issue of scam tokens like X (X) and TwitterDAO (TWITTER) falsely claiming connections to the social media platform.
DogeDesigner had raised concerns in the crypto community, cautioning users about being wary of articles related to scam tokens and clarifying that neither Musk nor X had ever launched a crypto token. In his response, Musk categorically asserted, “And we never will.”
This statement comes after Musk had previously hinted at the possibility of integrating cryptocurrency as a payment option on X.
This had left traders speculating about whether he would introduce a specific crypto token or stick with his favorite, Dogecoin (DOGE).
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The situation was further complicated with the appointment of Linda Yaccarino as the new CEO of X. This move had raised doubts among investors about the likelihood of a Dogecoin integration.
However, recent comments from Musk have revived optimistic sentiments among Dogecoin enthusiasts.
Musk had recently unveiled an ambitious vision for transforming Twitter into an all-encompassing platform, officially rebranding it as X, often referred to as the “everything app.”
Following Musk’s unequivocal confirmation that X has no plans to launch a crypto token, the price of Dogecoin experienced a surge of over 2% within a matter of hours, according to CoinMarketCap.
The reassurance from Musk regarding the absence of crypto token plans has provided some clarity to the market, boosting confidence among Dogecoin investors.
With the uncertainty surrounding X’s integration of Dogecoin dispelled, traders and enthusiasts alike are hopeful for the future of the popular meme-based cryptocurrency on the revamped X platform.
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