Elon Musk has announced he will cease promoting cryptocurrencies due to a rise in AI-generated scams exploiting his image. Despite this, Tesla continues to hold 11,509 BTC. Musk also revealed that his forthcoming encrypted messaging service, X Chat, will incorporate Bitcoin-like peer-to-peer encryption, ensuring a secure and ad-free user experience. The platform will support text, file sharing, and calls. While Musk has stopped endorsing tokens, he expressed continued fondness for Bitcoin and Dogecoin.