ElonMuskUpdates

Elon Musk has once again stirred the tech and crypto worlds with a bold new announcement: XChat, a soon-to-launch messaging feature on his X platform (formerly Twitter), is said to offer end-to-end encryption, disappearing messages, media sharing, and full audio-video call support.
All new XChat is rolling out with encryption, vanishing messages and the ability to send any kind of file. Also, audio/video calling.This is built on Rust with (Bitcoin style) encryption, whole new architecture.— Elon Musk (@elonmusk) June 1, 2025
But what caught everyone’s attention and caused widespread confusion was Musk’s claim that the service will be built using "Bitcoin style" encryption and developed in Rust, touting it as a “whole new architecture.”
Bitcoin Encryption? Experts Say That’s Not Quite Right
Despite Musk’s hype, leading figures in the crypto community quickly responded with skepticism. Critics highlighted a basic technical misrepresentation: Bitcoin does not use encryption in the way Musk suggests.
“Bitcoin doesn't even use encryption,” noted Luke Dashjr, a Bitcoin Core developer and CTO at OCEAN.
Samson Mow, CEO of JAN3 and Pixelmatic, backed the critique, stating, “Bitcoin isn't encrypted.”
In reality, Bitcoin relies on cryptographic functions, not encryption, to validate transactions and secure wallet keys. It uses SHA-256 hashing and elliptic curve cryptography, which are public cryptographic methods, but not designed to encrypt messages.
Rust and XChat's Architecture Also Questioned
Musk also claimed that XChat is being built in Rust, suggesting a more modern and secure foundation than Bitcoin’s original C++ codebase. However, this too raised eyebrows in the development community.
“Bitcoin was written in C++, not Rust,” tweeted Shaw Walters, founder of Eliza Labs.
Some speculated that Musk may be borrowing technical buzzwords to generate attention, especially as he continues efforts to pivot X into a multi-functional platform with integrated finance, media, and now messaging tools.
More Announcements from Musk’s Ecosystem
This revelation comes shortly after several high-profile updates from Musk’s various ventures:
A SpaceX rocket explosion made headlines last week, though Musk reiterated his commitment to Mars colonization within 20 years.X quietly soft-launched a digital wallet named “X Money”, pushing forward Musk’s plan to build an “everything app.”Musk also denied claims from Telegram CEO Pavel Durov, who alleged a $300 million xAI partnership, saying, “No deal has been signed.”
Despite these controversies, Musk remains bullish on transforming X into a full-scale communications, commerce, and media platform.
What's Next for XChat?
No documentation or further technical details have been released by X Corp. as of this writing. Users, developers, and privacy advocates alike are waiting for more transparency around the security protocols behind XChat before it rolls out.
If XChat delivers on even a portion of Musk's promises, it could become a serious competitor to encrypted messaging platforms like Signal and Telegram. Until then, the crypto and tech communities remain cautiously skeptical.
The post appeared first on CryptosNewss.com
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🔸 Elon Musk, the visionary entrepreneur behind SpaceX, Tesla, and a host of other groundbreaking ventures, has reached yet another monumental financial milestone. As of late 2024, Musk’s net worth has soared past the $300 billion mark, solidifying his position as one of the wealthiest individuals in the world. This surge comes on the back of continued successes in his businesses and the ever-growing global impact of his technological innovations.
🔶 The Rocket Man’s Ascent
Musk's journey to extraordinary wealth has been anything but conventional. Born in South Africa in 1971, Musk moved to the United States to attend university, eventually dropping out of a Ph.D. program to pursue entrepreneurial ambitions in the tech world. His first big win came in 1999 when he sold his internet startup Zip2 to Compaq for nearly $300 million. From there, he went on to co-found X.com (which later became PayPal), a company that was sold to eBay for $1.5 billion in stock.
However, it was his ventures into the electric vehicle (EV) and aerospace industries that would ultimately redefine Musk's financial standing. As CEO of Tesla, Musk spearheaded the EV revolution, making Tesla not just a car manufacturer but a dominant player in clean energy solutions. Meanwhile, SpaceX—his private aerospace company—continues to break barriers with reusable rockets, private space missions, and ambitious plans for Mars exploration.
🔶 Tesla: The Engine Driving Musk’s Fortune
Tesla, the crown jewel of Musk’s empire, has been a major driver behind his skyrocketing wealth. The company’s stock has been on a wild ride, fueled by the increasing adoption of electric vehicles, growing demand for sustainable energy, and Musk’s ability to innovate in ways that disrupt traditional industries. Even amid market fluctuations and global economic uncertainty, Tesla’s market cap continues to hover at hundreds of billions of dollars, making it one of the most valuable companies in the world.
Tesla’s success, coupled with Musk’s holdings in the company, has been the primary source of his ever-expanding fortune. As the company ramps up production and expands into international markets, Musk’s wealth seems poised to climb even higher.
🔶 SpaceX: The Final Frontier of Musk's Wealth
Musk’s other venture, SpaceX, has also contributed significantly to his wealth. The company, which Musk founded in 2002 with the goal of reducing space transportation costs and enabling the colonization of Mars, is valued at over $150 billion as of late 2024. SpaceX’s successful launches, including manned missions to the International Space Station, along with its high-profile contracts with NASA and the U.S. government, have established the company as a leader in the private space industry.
With plans to build a starship capable of reaching Mars and beyond, SpaceX’s future appears as limitless as the cosmos themselves, providing Musk with yet another lucrative avenue to further his fortune.
🔶 The Broader Impact: From Neuralink to Twitter
Beyond Tesla and SpaceX, Musk has a hand in several other cutting-edge ventures. Neuralink, a company aiming to develop brain-computer interface technology, could one day revolutionize healthcare and human cognition. The Boring Company, which seeks to address urban transportation issues with subterranean tunnels, is another of Musk's ambitious projects that could change the way cities operate.
Even his controversial acquisition of Twitter (now X) has put him at the center of discussions about the future of social media, free speech, and digital platforms. While the platform's financial future remains uncertain, Musk’s influence on the digital landscape continues to be profound.
🔶 What’s Next for Musk?
As Musk’s net worth climbs beyond $300 billion, it’s clear that his ambitions are far from being satisfied. His vision for humanity’s future includes reducing global dependence on fossil fuels, expanding human civilization to other planets, and leveraging artificial intelligence to solve some of the world’s most pressing challenges.
However, Musk’s journey hasn’t been without its controversies. His behavior on social media, his outspoken nature, and his leadership style have drawn both admiration and criticism. Still, his ability to turn bold ideas into profitable businesses has made him a uniquely influential figure in the tech world—and his wealth shows no signs of slowing down.
In conclusion, Elon Musk’s financial ascent to surpassing $300 billion is a testament to his extraordinary ability to innovate, disrupt, and lead multiple industries. Whether it's revolutionizing electric vehicles, advancing space exploration, or reshaping digital communication, Musk’s influence is undeniable. With his eye always on the next frontier, it seems his net worth will only continue to rise, potentially reaching even greater heights in the years to come.
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