Elon Musk denies working on his own cryptocurrency

The CEO of X and SpaceX commented on suspicions about plans to launch its own cryptocurrency token — according to him, the company has no such plans.

And we never will

— Elon Musk (@elonmusk) August 5, 2023

At the same time, he did not comment at all on the rumors about the launch of a cryptocurrency hub within X that appeared a day earlier.

As a reminder, according to Semafor, X CEO Elon Musk is seeking to create an exchange hub on the platform. The publication cites materials sent by X to large financial data companies.

The publication reports that over the past few weeks, the social network has been trying to establish ties with large financial corporations and enlist their support. «Real-time information is a powerful force, especially in the world of investment,» the letter from X allegedly reads. It calls for proposals for the social network related to «financial functions,» such as real-time market data.