Billionaire entrepreneur Elon Musk said in a social media post on on Nov. 3 that his various companies will never issue a cryptocurrency token.
Musk stated:
“To be super clear, none of my companies will ever create a crypto token.”
Musk made that comment in response to news about a token that is attempting to capitalize on a new product from his AI firm, xAI, called Grok. Though that company and project are legitimate, any crypto tokens that use those names are not legitimate.
Musk’s statement indicates that the other companies that he owns or leads — including his rebranded Twitter app X, his automotive company Tesla, and his spacecraft and launch company SpaceX — will not issue a cryptocurrency of their own.
Despite that warning, there appear to be numerous tokens in circulation that intend to capitalize on Musk’s companies and their popularity in the crypto sphere. On the Ethereum blockchain alone, there are 260 tokens that mention SpaceX, 497 tokens that mention Tesla,
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