Article9 months ago

Elon Musk Clarifies X Will Not Launch a Cryptocurrency Token

Elon Musk Clarifies X Will Not Launch a Cryptocurrency Token
Summary
  • Elon Musk has put to rest speculation about X (formerly Twitter) launching a cryptocurrency token in response to a developer's post.
  • This is the second time this month that Musk has denied any plans to develop a cryptocurrency for X.
  • Musk's focus for X is now on profitability and transforming the social media platform into a super app.
  • X has obtained licenses to manage and facilitate digital currency transactions in Rhode Island, and has registered with the Treasury Department's Financial Crimes Enforcement Network (FinCEN) in several states.
  • Despite these actions, X has not yet launched any payment service, but is committed to incorporating financial services for its users.

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