Article • over 1 year ago
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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