- Elon Musk launched an artificial intelligence company, xAI.
- Some developers immediately create XAI meme token.
- Elon Musk restates that his companies will not create crypto tokens amid the XAI meme token launch.
- A report states that the XAI token has surged 175% following Musk’s statement.
Elon Musk, the billionaire founder of the X platform (previously Twitter), has stated unequivocally that none of his firms will ever issue a cryptocurrency token. Musk made this declaration in a recent X statement following the launch of XAI, a meme-themed coin.
Notably, the bad actors behind the XAI token swung into action as Elon Musk created xAI, an artificial intelligence business. It’s worth noting that xAI is planning to launch an early beta version of the Grok system for X Premium+ subscribers only.
However, some cryptocurrency developers have taken advantage of the occasion to build a meme token based on Elon Musk’s artificial intelligence venture. A famous Dogecoin designer sent a warning to the crypto community regarding the XAI meme token, emphasizing that it is unrelated to Musk.
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The tech mogul chimed in, saying, “To be super clear, none of my companies will ever create a crypto token.”
Elon Musk & xAI is not associated with any such crypto token. Please be careful ⚠️ pic.twitter.com/zJmo4Y8aQ0
— DogeDesigner (@cb_doge) November 4, 2023
Interestingly, according to one story, the XAI token has already increased 175% due to one of Musk’s statements on the X platform. Meanwhile, this is not the first time that bad actors have used Elon Musk’s reputation and activity to create a meme token.
Following Twitter’s renaming to X, a meme token “X” was created. In less than 24 hours, the funny coin experienced a 10,000% increase. Musk stated at the time that the platform will never have a token.
It should be noted that Elon Musk was formerly a fervent supporter of cryptocurrencies. He had previously accepted Bitcoin as a payment method for his products before discontinuing its use due to environmental concerns.
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