Elon Musk Confirms He has no Plans for Crypto Tokens on X

Elon Musk has confirmed that his social media platform X (formerly Twitter) will not create any crypto tokens. This statement came after a warning about fake digital currencies that falsely claimed connections to X and Twitter.

In response to a post warning about scam tokens, Musk made it clear that neither he nor X ever had or ever will launch a crypto token.

Before this announcement, Musk had hinted at using cryptocurrency as a payment option on X. Many people thought he might introduce a special crypto token or use his favorite, Dogecoin. But the appointment of Linda Yaccarino as the new CEO caused some doubts about using Dogecoin.

Musk's recent statements have, however, revived hope among Dogecoin investors. He has ambitious plans for transforming Twitter into an "everything app" called X, which was officially rebranded in July.

After Musk confirmed that he will not launch a crypto token, Dogecoin's price increased by over 2% within hours, according to Coinpaprika.