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JUST IN: Elon Musk: X Will Never Launch Its Native Token

Sat, 08/05/2023 - 08:45
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Yuri Molchan
Tech tycoon shatters crypto community's hopes for native Twitter coin
JUST IN: Elon Musk: X Will Never Launch Its Native Token
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Boss of the popular X app (formerly widely known as Twitter) Elon Musk has commented on the recent rumors that X is working on the creation of its own cryptocurrency.

Musk clearly stated that this will never happen and no "X coin" will ever be developed and launched.

Speculations about crypto payments on Twitter (now being rebranded as X) have been circulating the ultra-popular social media platform since October last year, when Elon Musk finalized the deal on purchasing Twitter for $44 billion.

Everyone, especially the Dogecoin community, still expects Musk to implement the original meme coin DOGE for micropayments and tipping content creators on Twitter. So far, to support creators all over the world, Musk has introduced a Subscription feature that allows account owners to receive monthly micropayments from their subscribers.

According to a recent announcement made by Musk, the platform will not be charging 10% off creators' earnings after the first year — not until the threshold of payments reaches $100,000 in total. This made the Twitter community happy.

DOGE Army Responds to Elon Musk's Starbucks Tweet, Here's Why

However, these payments are made in fiat, not crypto. Earlier this year, Twitter, before getting rebranded into X ("the everything app"), was reported to be working on a "Coins" feature.

Now, at least, it is clear that Musk and X are not working on a native cryptocurrency. However, the community still hopes that Dogecoin payments will be implemented. Musk avoids discussing this topic and has not clarified it yet. Still, before buying Twitter, he stated in multiple interviews and podcasts that he sees DOGE as a perfect alternative to Bitcoin and that it would be great if Twitter began to use it for internal payments.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at