Elon Musk Is Not Launching a Stock And Bitcoin Crypto Trading Platform

Misbar investigated the circulating claim and found it to be fake.

Elon Musk denied launching a stock trading and cryptocurrency trading platform.

Elon Musk Refuted the Claim

On his “X” account, Elon Musk stated that he has no intentions of introducing crypto tokens. This statement came in response to a post discussing dubious X and Twitter-based digital currencies.

In reply to a post by DogeDesigner on August 5, Elon Musk addressed the concern regarding scam tokens such as (X) and TwitterDAO (TWITTER) making false claims about their association with his social media platform. DogeDesigner had warned the crypto community to exercise caution with articles related to scam tokens and made it clear that neither Musk nor X had ever initiated a crypto token. Musk further asserted in his response, "And we never will."

Moreover, on August 3, Elon Musk responded to a Twitter page that focuses on stocks and cryptocurrencies, which claimed that "Twitter/X is planning to launch its own stock trading platform, per XNewsDaily." In response to this tweet, Elon stated that there is no ongoing work or development towards creating an X Trading Platform by saying, “No work is being done on this to the best of my knowledge.”

Could Crypto Come in “X”?

Elon Musk plans to transform Twitter into the first Western super-app, similar to China's WeChat, offering multiple services like instant messaging and mobile payments. He envisions creating a platform where users can conduct their entire financial world. 

To achieve this, Musk rebranded Twitter to X and aims to integrate comprehensive communications and possibly cryptocurrency trading. There is growing speculation that X could facilitate the mainstream adoption of digital assets, considering Musk's interest in cryptocurrencies and the investment by the crypto exchange Binance in his takeover of Twitter.

Elon Musk’s Bizarre Relationship with Dogecoin

Dogecoin, a digital currency that originated in 2013 as a joke based on the "Doge" meme featuring a Shiba Inu canine, quickly gained popularity beyond expectations. Despite its lighthearted origins, it evolved into a significant player in the digital currency market due to its friendly image and community-centric approach.

Elon Musk played a crucial role in driving interest in Dogecoin through tweets and remarks, capturing the attention of his followers and the digital currency community. 

Musk has consistently maintained a connection with Dogecoin, playfully calling himself the "Dogefather" and "Dogecoin CEO," further solidifying his role in the coin's rise to fame. His actions and comments have contributed to the meme cryptocurrency's status in popular culture and the financial world.

Read More

Elon Musk and the Spread of Bitcoin Misinformation

Twitter as a Hot Spot of Misinformation After Elon Musk’s Takeover