Elon Musk Confirms None of His Companies Will Ever Create a Crypto Token

Tesla and Spacex CEO Elon Musk has confirmed that nary of his companies volition ever motorboat a crypto token. His clarification came aft his artificial quality company’s sanction was utilized successful a cryptocurrency, and respective articles associated his societal media level X with crypto tokens.

Elon Musk’s Companies Will Not Launch a Crypto Token

Tesla and Spacex CEO Elon Musk confirmed connected his societal media level X connected Friday that his companies volition ne'er make a crypto token.

His clarification followed a station connected X by idiosyncratic Dogedesigner informing his followers astir a crypto token utilizing the sanction XAI, which could beryllium mistaken for Musk’s artificial quality company. Dogedesigner wrote: “Elon Musk & xAI is not associated with immoderate specified crypto token. Please beryllium careful.” In response, Musk clarified that nary of his companies volition ever make a crypto token.

This was not the archetypal clip the Tesla billionaire has distanced himself and his companies from crypto token issuance. In August, Dogedesigner likewise warned astir articles associating immoderate cryptocurrencies with Musk’s X platform, formerly Twitter. “Elon Musk and X ne'er launched a crypto token. Be cautious of specified articles,” helium cautioned. Musk responded: “And we ne'er will.”

Musk antecedently revealed that helium personally owned bitcoin (BTC), ether (ETH), and dogecoin (DOGE). His electrical car company, Tesla, maintains $184 million successful bitcoin connected its equilibrium expanse arsenic of the 3rd quarter. The institution besides holds a tiny magnitude of dogecoin (DOGE). The billionaire has been a supporter of the meme cryptocurrency, viewing it arsenic the people’s crypto. In 2021, Musk stated that Spacex besides owned BTC.

Last month, the billionaire unveiled his program to marque X a powerful fiscal platform by the extremity of adjacent year. “When I accidental payments, I really mean someone’s full fiscal beingness … If it involves money. It’ll beryllium connected our platform. Money oregon securities oregon whatever,” helium detailed, adding that “you won’t request a slope account.”

The societal media institution is presently successful the process of securing money transmission licenses crossed the U.S. successful bid to connection fiscal services to users. Musk precocious said that helium hopes to get the further licenses X requires wrong “the adjacent fewer months.”

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