Elon Musk's XChat Encryption Slammed & $300M XAI Stock Sale
Elon Musk XChat launched with controversial “ Bitcoin-style encryption ” claims that immediately drew criticism from cybersecurity experts, and while his xAI company announced a $300 million stock sale valuing the firm at $113 billion. The messaging platform rollout coincides with major financing moves as cryptocurrency markets and also TSLA investors monitor security risks and market implications right now. 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 Also Read: $500B Stargate AI Project Stocks Set To Soar 10x in 2025 XAI’s $300M Stock Sale and Xchat Draw Fire Over Encryption Risks Source: Radiofreemobile $300 Million XAI Stock Sale Targets $113 Billion Valuation Source: CoinMarketCap The xAI stock sale represents a secondary offering allowing employees to sell shares whil...