Elon Musk Denies Development of X Cryptocurrency

In a recent statement, Elon Musk, the head of the popular X app (formerly known as Twitter), addressed rumors about the platform's potential creation of its own cryptocurrency.

Musk categorically stated that there are no plans for an "X coin" to be developed and launched.

Speculations about the integration of cryptocurrency payments on Twitter, now undergoing rebranding as X, have been circulating since October of the previous year.

This was after Musk finalized the acquisition of Twitter for a staggering $44 billion.

Many, especially within the Dogecoin community, have been eagerly anticipating the implementation of the original meme coin DOGE for micropayments and content creator tipping on the platform.

To support creators worldwide, Musk introduced a Subscription feature, allowing account owners to receive monthly micropayments from their subscribers.

An announcement from Musk revealed that the platform will not deduct 10% from creators' earnings after the first year, at least until the total payments reach $100,000. This decision has been well-received by the Twitter community.

However, it's important to note that these payments are currently in fiat currency and not in crypto.

For now, it is clear that Musk and X are not actively developing their native cryptocurrency.

Despite this, there is still hope among the community that Dogecoin payments will eventually be integrated into the platform.

Musk, however, has refrained from discussing this topic directly and has not provided a clear confirmation or denial.

Prior to acquiring Twitter, Musk expressed his positive views about DOGE in multiple interviews and podcasts, considering it as a potential alternative to Bitcoin and favoring its use for internal payments on Twitter.