Tuesday, February 27, 2024

‘We Never Will’ Launch a Twitter or X Crypto Token :Elon Musk Claims.

Tech superman Elon Musk stomped out any chances of Twitter (or X) establishing its own cryptocurrency token after years of wild speculation and frenzied tea-leaf reading by cryptocurrency enthusiasts, and Dogecoin enthusiasts in particular.

The news was revealed in a message to another user, not in an official statement or even a Twitter post.

User @DogeDesigner, who has 240,000 followers and multiple previous encounters with both Musk and now-CEO of X Linda Yaccarino, cautioned that “Elon Musk and X never launched a crypto token.” The tweet made a misleading claim by including an image of headlines from news articles.

Musk’s severe one-liner in response was, “And we never will.”

Despite this blatant rejection of a Twitter-led cryptocurrency, which comes in the midst of a significant rebranding initiative, it is not an unequivocal rejection of cryptocurrency support or related features in a future X “everything app.” Additionally, Musk’s prior experience with digital assets may raise additional questions.

Dogecoin (DOGE), a memecoin that was created as a joke to get the cryptocurrency community to stop taking itself so seriously, is the subject of Elon’s fervent devotion.

The self-described “Dogefather” gained notoriety when he paid $44 billion for Twitter last year. Shortly after, he replaced the iconic blue-bird logo with an image of the Shiba Inu dog that represents Dogecoin, which caused the token to soar by 20% and earned the billionaire a $258 billion lawsuit for alleged insider trading and racketeering.

After cryptic, Dogecoin increased by 9%. Elon Musk links DOGE and X in a tweet.

He has, in fact, sent the crypto community a lot of contradictory signals throughout the years.

Doge developers exclusively revealed to Decrypt in 2021 that they had been working with Musk to create a less expensive, more environmentally friendly alternative to Bitcoin for years. And early this year, reports claimed that the corporation was developing a solution to allow cryptocurrency payments, although it wasn’t clear which token would be used.

Crypto enthusiasts can definitely count out a TwitterCoin or an XCoin for the time being, but Musk’s next move might still involve cryptocurrencies.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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