Fact Check: Elon Musk owns a crypto platform with 30% returns?

Sahana Kiran
Elon Musk
Source – Unsplash

Elon Musk, the CEO of Tesla has a prominent presence in the crypto-verse. But, he seems to be involuntarily involved in the scammy side of crypto as well. Time and again Musk has been dragged into promotional crypto scam videos. From live streams to big crypto giveaways, Musk was growing tired of the whole thing. More recently, a deep fake video of Musk promoting his crypto platform that offers significant returns started making the rounds.

Capitalizing on Elon Musk’s TED talk in Vancouver that took place last month, scammers fabricated the video of him endorsing a crypto platform. Unlike other platforms, this one promised 30 percent returns on crypto deposits.

An array of them called the video out for its bad editing. Elon Musk encountered this video and affirmed immediately that it wasn’t him.

This video caught the attention of many and not just Elon Musk. Dogecoin co-founder Billy Markus suggested that anyone who believes that the video was real would lose their money to anything. He further added,

“Someone stupid enough to invest in that deserves to lose their money, but at the same time the scammers deserve to spend their life in jail.”

Here’s what’s happening with Elon Musk and his Twitter acquisition

Elon Musk broke the internet with his Twitter takeover announcement. While the crypto-verse was awaiting crypto-friendly updates, the others were excited about Musk’s free speech jargon. Musk, however, decided to step back following the bots on the platform. This further impacted the shares of the platform.

More recently, it was revealed that Musk was inching towards closing his transaction.

In addition to this, Jack Dorsey the former CEO of Twitter bid adieu to the Twitter board. Yet, Dorsey would reportedly stay until his term expires during this year’s stockholders meeting. While several suggest that this could be because of Elon Musk, it was noted that he had decided to step down right after he exited his CEO post.