Elon Musk has denied rumors that his social media platform, X (formerly known as Twitter), is planning to build a trading hub that would allow users to trade cryptocurrencies, including Dogecoin (DOGE).
The rumors began after media outlet Semafor reported that X had sent requests to big data financial providers in recent weeks seeking proposals to provide “financial content, real-time stock data, and other features” on the microblogging social platform.
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The report also claimed that X had offered these finance giants an opportunity to reach “hundreds of millions of highly-qualified users.”
Musk’s Response
In a tweet, Musk denied the rumors, stating that “no work is being done on this to the best of my knowledge.” He also said that he had not spoken to anyone about adding cryptocurrency trading to X.
No work is being done on this to the best of my knowledge
— Elon Musk (@elonmusk) August 3, 2023
Musk has previously stated that he wants to make X a “super-app,” similar to WeChat in China. For context, WeChat is a multi-service app that offers a variety of features, including instant messaging, mobile payments, and financial services.
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The Future of Crypto on X
It remains to be seen whether X will ever offer cryptocurrency trading. However, if it does, it could be a major boost for the adoption of digital assets. X would have a large user base, and it would be a convenient way for people to buy and sell cryptocurrencies.
While Elon Musk has denied the rumors of cryptocurrency trading on X, it is still a possibility. Musk has been a vocal supporter of cryptocurrencies, and he has even said that he believes Dogecoin (DOGE) could become the “currency of the internet.” If X offers cryptocurrency trading, it could be a major boost for the adoption of digital assets.
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