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Elon Musk Debunks Rumours to Launch a Crypto Token for X

Elon Musk acquired Twitter and recently rebranded it as X. There have been speculations in the marketplace regarding various cryptocurrencies associated with the platform.

To this effect, several fake virtual currencies have been making rounds on social media claiming to be associated with X. To put the rumors and any possible scams, the CTO has recently issued a statement.

He has clarified in a recent statement that the X platform has no plans to integrate any cryptocurrencies. He was responding to a post referring to the questionable digital currency projections related to X.com.

The tweet was posted by DogeDesigner talking about various crypto projects popping up on social media claiming to be the next X virtual currency. However, the CTO made it clear that random cryptocurrencies named X and TwitterDAO do not have anything to do with X.com.

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X Users Should Be Beware of Investing in Fake Cryptocurrencies

DogeDesinger has issued a warning for cryptocurrency investors and X users that they should be cautious. Readers should take note that scammers may name their crypto projects to make them seem like they have a close association with X.

Anyone who wishes to find more information on the topic should read the articles shared by DogeDesigner on the topic. The executive has also made it clear that he has not issued or supported any digital currencies with such names and has no plans to do so.

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Scammers may be taking advantage of the fact that Musk has talked about introducing a new cryptocurrency for tipping and payment options on X. Crypto investors have continued to speculate about which virtual asset will cut.

There is a bigger probability regarding Dogecoin as a possible crypto payment instrument but there is no official announcement on this matter. The appointment of Linda Yaccarino has reduced the possibility of such an event taking place.

Following the mention of cryptocurrencies on the X platform, Dogecoin prices have soared. The rebranding is part of the plan to make the platform everything app taking place in July.

In the recent debate around X cryptocurrencies, the price of Dogecoin soared by 2% within a matter of hours as per CoinMarketCap data. Meanwhile, X has invited proposals on the financial sector such as real-time stock data and other metrics.

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Rather than offering compensation, X has told the potential service providers to include bid estimation. However, Musk has once again put rumors to rest by maintaining no progress has been made on this front. During his first meeting with X employees, he shared his vision to remodel the application like a Chinese application named WeChat.


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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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