Elon Musk Reaffirms X Will Never Make a Crypto Token

Joshua Ramos
X (Twitter) Obtains License For Crypto Payments And Trading
Source: La-Lista News

Amid all the changes going on on the platform formerly known as Twitter, speculation has begun to abound regarding digital assets. Subsequently, taking to the platform, Elon Musk reaffirmed that X will never make a crypto token in a recent post.

Earlier this month, Musk said the platform would never create a digital asset. Moreover, a developer for the platform recently discussed speculation amid the company’s acquisition of a payment license. In response to the statement affirming that the brand will not spend resources developing a token, Musk replied with a succinct, “Correct.”

Source – Fox Business

Also Read: Dogecoin to Spike as Elon Musk’s X Will Adopt Cryptocurrency Payments?

Musk Confirms X Won’t Make Crypto Token

One of the most popular social media platforms in the world has undergone massive changes recently. The platform that was formerly known as Twitter has experienced a massive rebrand. Subsequently, it coincides with its owner’s seeking to turn the social network into an “everything app.”

That same rebranding has led the platform to acquire a brand-new payment license in certain American states. That license allows the application to potentially trade digital assets eventually. Therefore, inciting speculation over the potential development of a Twitter-related token. However, Elon Musk has reaffirmed that X will never make a crypto token in a new post. Doubling down on comments he made earlier this month.

Source: CNN

Also Read: Elon Musk’s X To Launch Audio & Video Calls?

Specifically, a staff engineer at the platform recently answered the speculation. As opposed to being the beginning of token development, he stated, the license is “just a part of the rebrand.” Subsequently, he stated, “Coins will likely not be something we’re doing. We’re focused more on making real money work if we can rather than some substitute currency.”

Thereafter, Elon Musk responded to that statement with a concise “Correct.” Therefore, affirming the statements aligns with his ultimate vision of the platform’s digital asset contribution. Moreover, it aligns with statements made in early August, where Mustk answered similar speculation. There, he stated that the company would “never” make a crypto token.