Elon Musk rules out the issuance of native tokens by his companies.
05.11.2023
Elon Musk rules out the issuance of native tokens by his companies.

Business magnate Elon Musk has confirmed that none of his ventures will engage in issuing their own cryptocurrency.

This statement followed after a user by the nickname DogeDesigner warned the public that the cryptocurrency token XAI is not associated with Musk and his new artificial intelligence project, xAI.

"To eliminate any doubt: none of my firms will engage in the creation of crypto tokens," Musk noted in his message.

Information about Musk's plans to launch an AI startup to compete with OpenAI emerged in April, and xAI was introduced in July.

The official website of xAI specifies that the company is not part of X Corp, but plans to collaborate fruitfully with Twitter, Tesla, and other companies to advance its goals.

Furthermore, in August, Musk announced that his social platform X would never use its own tokens.

That same month, the biotech firm Neuralink, founded by the entrepreneur, successfully completed a Series D funding round, raising $280 million.

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