Elon Musk clarified a suspicious post about X and Twitter launching a digital currency on Saturday, August 5th. He stated that his social media platform X (formerly Twitter) has no plans to launch a cryptocurrency.

In response to a post by DogeDesigner, Musk addressed the issue of scam tokens such as X (X) and TwitterDAO (TWITTER) falsely claiming association with social media platforms. DogeDesigner had cautioned the cryptocurrency community to be cautious of articles related to scam tokens and clarified that Musk and X have never launched a cryptocurrency. Musk also clarified in his response, "We will never issue currency."

Previously, Musk had hinted at integrating cryptocurrency into X as a form of payment. Traders couldn't help but speculate whether he would introduce a specific token or continue to use his favorite, Dogecoin (DOGE).

And we never will

However, with Linda Yaccarino appointed as the new CEO, there have been some doubts about the possibility of integrating DOGE. Nevertheless, Musk's recent comments have reignited optimism among Dogecoin investors.

Musk recently announced his ambitious vision to transform Twitter into an all-encompassing platform, the so-called "everything app" X, and officially renamed Twitter to X in July.

According to CoinMarketCap data, after Musk confirmed his lack of intention to launch a token, the price of Dogecoin rose by over 2% within a few hours.

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