American entrepreneur and famous billionaire Elon Musk put an end to the discussions by stating that X, formerly known as Twitter, will never release its own cryptocurrency.
Elon Musk, an American entrepreneur and famous billionaire, stated in response to a user on his social media platform that X, formerly known as Twitter, will never release its own cryptocurrency.
Musk’s statement came in response to a warning from a user named @cb_doge, who cautioned investors against investing in fake tokens or memecoins that appear to be official X crypto currency projects or stories about them.
The user wrote, “Elon Musk and X have never released their own cryptocurrency.” In response to this statement, the American entrepreneur replied, “And we will never do it.”
Not surprisingly, there are a number of low market value crypto currency projects with names associated with X, Twitter, or Musk, such as X/TWITTER, ELON BUYS TWITTER (EBT), CryptoTwitter (CT), TWITTERDOGE (TDOGE), X (X), and others. These crypto currency projects are trap projects that aim to lure investors, and Musk’s statement puts an end to the controversies, indicating that investors should stay away from projects using these names.
Meanwhile, Musk has long been associated with the largest memecoin, Dogecoin (DOGE). At one point, as the owner of X, he even went so far as to replace Twitter’s bluebird logo with the Dogecoin logo, which raised the price of DOGE by over 27% at the time.