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Elon Musk denies allegations of token fraud

Elon MuskIn response to an August 5 post about suspicious X-based digital currencies and TwitterHe stated that the social media platform is X. (formerly Twitter) has no plans to launch crypto tokens.

in response to a post by Doge DesignerMusk faced token scam problem, Like X (X) and TwitterDAO (TWITTER), falsely claiming to have links to the social media platform. DogeDesigner has warned and clarified the crypto community about articles about token scams. neither Musk nor X has ever launched a crypto token. In his response, Musk added: “And we never will.”

In the past, Musk has hinted at integrating cryptocurrencies into X as a payment option. Traders questioned whether he plans to introduce a particular cryptocurrency or keep his favorite — Dogecoins (DOGE).

And we will never

— Elon Musk (@elonmusk) August 5, 2023

However, with the assignment Linda Yaccarino as new CEO, some doubts arose about the possibility of integrating DOGE. Either way, Musk’s recent comments have rekindled the optimistic sentiments of Dogecoin investors.

Musk recently announced his ambitious vision to transform Twitter into an all-encompassing platform known as X. “apps for everything”, He officially changed Twitter’s name to X in July.

According to data from CoinMarketCap, after Musk confirmed that he does not want to launch a cryptocurrency, Dogecoin price sees more than 2% increase in a few hours.

Translation of Matteo Carrone

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