📣 Tesla and SpaceX CEO Elon Musk confirmed on his social network X on Friday that his companies will never create cryptocurrencies.

His clarification followed a post by X user Dogedesigner, warning his followers about a cryptocurrency called XAI, which could be mistakenly associated with Musk's artificial intelligence company. Dogedesigner wrote: "Elon Musk and xAI are not associated with any such cryptocurrency. Please be cautious." In response, Musk clarified that none of his companies will ever create cryptocurrencies.

🔗 Tesla and SpaceX CEO Elon Musk confirmed on his social network X on Friday that his companies will never create cryptocurrencies. His clarification followed a post by X user Dogedesigner, warning his followers about a cryptocurrency called XAI, which could be mistakenly associated with Musk's artificial intelligence company. Dogedesigner wrote: "Elon Musk and xAI are not associated with any such cryptocurrency. Please be cautious." In response, Musk clarified that none of his companies will ever create cryptocurrencies.

Earlier, Musk had disclosed that he personally owned Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). As of the third quarter, his electric vehicle manufacturing company, Tesla, held $184 million in Bitcoin on its balance sheet. The company also held a small amount of Dogecoin (DOGE). The billionaire was a supporter of the meme cryptocurrency, considering it a people's cryptocurrency. In 2021, Musk stated that SpaceX also owned BTC.

🚀 💰Last month, the billionaire unveiled his plan to turn X into a powerful financial platform by the end of next year. "When I talk about payments, I really mean someone's entire financial life... if it's about money. It'll be on our platform. Money, securities, or something else," he explained in detail, adding that "you won't need a bank account."