Elon Musk has
dispelled the rumors making the rounds that X app is working on the creation of
its own cryptocurrency.
He stated
it categorically that it would never happen and no “X coin” would ever be developed
and launched.
Finalization
of the deal on purchasing Twitter last year orchestrated speculations about
crypto payments on the platform.
The
Dogecoin community has been expecting Musk to implement the original meme coin
DOGE for micropayments and tipping content creators on Twitter.
In order
to support content creators all over the world, Musk has introduced a subscription
feature that allows account owners to receive monthly micropayments from their
subscribers.
X app will
not be charging 10% off creators’ earnings after the first year until the
threshold of payments reaches $100,000 in total.
However,
these payments are made in fiat, not crypto.
This
nullifies the report earlier this year that X app was working on a “Coins”
feature.
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