Elon Musk debunks rip-off token claims, assures no crypto plans for X

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Elon Musk firmly acknowledged that the social media platform X, (previously generally known as Twitter), has no plans to launch any crypto tokens, as he responded to a put up concerning questionable X and Twitter-based digital currencies on Saturday, August 5.

In response to a put up made by DogeDesigner, Elon Musk addressed the difficulty of rip-off tokens like $X and $TWITTER falsely claiming connections to the social media platform. DogeDesigner had cautioned the crypto group about being cautious with sure articles associated to rip-off tokens and clarified that neither Elon Musk nor X had ever initiated a crypto token. In his reply, Elon Musk asserted, “And we by no means will.”

Beforehand, Elon Musk had dropped hints about the potential of incorporating cryptocurrency as a fee choice on his platform. Merchants had been left questioning whether or not he would introduce a selected crypto token or stick along with his favourite, Dogecoin (DOGE).

Nevertheless, with the appointment of Linda Yaccarino as the brand new CEO, some doubts arose concerning the probability of Dogecoin integration. However, the current remark from Musk has revived optimistic sentiments amongst Dogecoin traders.

Elon Musk lately introduced his formidable imaginative and prescient of remodeling Twitter into an all-encompassing platform generally known as X – An Every part App. Taking speedy motion in the direction of this aim, he formally modified Twitter’s identify to X in July.

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Following Elon Musk’s affirmation that he has no intentions of launching a crypto token, the worth of Dogecoin skilled a major enhance of over 2% inside a matter of hours.

In accordance to Coinmarketcap, over the previous 24 hours, the worth of DOGE has seen a 3% rise and it’s presently buying and selling at $0.075. The cryptocurrency’s lowest and highest values throughout this era had been recorded at $0.0727 and $0.0747, respectively. Nonetheless, the buying and selling quantity has skilled a slight lower of 10% within the final 24 hours.

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