SpaceX and Tesla have invested in crypto, but neither company offers an official cryptocurrency. However, there are cryptos named after. The CEO has always been vocal about his support for cryptocurrencies, with his tweets pushing meme coin Dogecoin to become a top 10 cryptocurrency by market cap. SpaceX also has the grand goal of becoming an independent blockchain line. Our goal is to quickly become an intermediary system for the flow. PLACES TO VISIT BETWEEN JAISALMER AND JODHPURS

Aside from Musk's personal investments in the sector, both Tesla and SpaceX also hold massive amounts of Bitcoin. Despite owning Bitcoin, Musk has recently been critical of the world's largest cryptocurrency for its negative impact on the environment. The Doge meme coin is also a favorite, with Tesla even accepting the coin as payment for official merchandise on the company's website. More recently, Tesla also announced that it would accept Dogecoin as payment at Supercharging stations, further establishing the company's crypto credentials.

However, that's not the case. While neither Musk, nor any of the companies have an official cryptocurrency, there are a number of digital tokens named SpaceX, Starlink, Musk, and Tesla. To be clear, none of them have anything to do with the billionaire businessman or the companies he's associated with. Instead, all are part of the so-called 'MuskSwap' ecosystem, which is operated by self-described Musk fans who claim to be interested in and support Elon Musk's space projects.

June 24, am minute read Share this article: Beware: The swindle uses legitimately purchased YouTube ads, real liquidity, legitimate DEX Uniswap, and the real wallet extension MetaMask to create an entirely convincing fake coin gambit. The scam is rearing its Elon-Musk-themed head in ads on YouTube that show up before and after videos about cryptocurrency, according to research from Tenable.

It works like this: In order to list and facilitate the trading of any coin on Uniswap, there must be liquidity, or financial backing, to the exchange. That is, until the scammers decide to cash out, i. Red Flags in a Sea of Crypto-Craziness While the campaign is intensely savvy in its legitimate-seeming details, there are a few tell-tale signs that all is not what it seems.

For one, the original ads are hosted on compromised YouTube accounts.

COUNTERPARTY VS ETHEREUM

No a Canadian company called the Geometric Energy Corporation has confirmed that it will pay SpaceX solely in dogecoin in order to secure a spot for an pound satellite on a mission, called Doge-1, slated to take off in early The satellite will "obtain lunar-spatial intelligence from sensors and cameras," according to a press release. He declined further comment about the deal. Dogecoin, however, did start as a joke: The digital currency was founded by two software engineers in , and its value and popularity are inextricably linked to internet memeworthiness and viral social media posts.

Still, dogecoin has been propelled into one of the most popular cryptocurrencies on the market, and it counts Musk as one of its most vehement and popular supporters. He's frequently shared dogecoin-centric jokes on Twitter and claimed the cryptocurrency is "underestimated. It's unclear what was driving the dogecoin sell-off.

To be clear, none of them have anything to do with the billionaire businessman or the companies he's associated with. Instead, all are part of the so-called 'MuskSwap' ecosystem, which is operated by self-described Musk fans who claim to be interested in and support Elon Musk's space projects. The SpaceX Token Is Best Avoided Not only are all the aforementioned Musk-themed cryptocurrencies from the same source, but they've had similar fortunes in the market.

All of them are currently trading way below the 1-cent mark. There's also a Teslacoin that's unaffiliated with both Tesla and Elon Musk. For those wanting to get into the crypto market, SpaceX would be a risky investment. Buyers would do well to stay away from it, especially with the rapid increase in crypto scams. Not only SpaceX, but Tesla, Musk, Starlink, and Teslacoin, are also likely to be risky investments that are best avoided for now.

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