Musk Suddenly Follows Crypto Exchange OKX On Twitter, Why?

Elon Musk is currently in the headlines for suspending several Twitter accounts of US journalists after Twitter implemented a no-doxxing policy. As Bitcoinist reported, an incident occurred last night in which Musk’s son’s car was stopped by a stalker.

The cause, according to the billionaire, were tweets from the account @elonjet, which was tracking the billionaire’s flight movements and had more than 526,000 followers. As a result of the incident, Musk implemented a new policy.

Once again, the billionaire has made it into the headlines. However, this time around, it is for following the official account of the OKX crypto exchange on Twitter.

Why Is Elon Musk Following Crypto Exchange OKX?

In other striking news, the former richest man in the world suddenly follows OKX’s official Twitter account. The revelation is notable in the sense that Musk follows only 151 accounts on Twitter.

Among these accounts are his own companies, such as Tesla, Neuralink and The Boring Company. However, he also follows personalities such as French President Emmanuel Macron, Apple CEO Tim Cook, podcaster Lex Friedman and also the official account of South Park.

Within the crypto community, Musk only follows the official account of Dogecoin and its founder Billy Markus aka Shibetoshi Nakamoto. Otherwise, the Twitter CEO does not keep track of any crypto-related accounts.

That the Tesla CEO now follows cryptocurrency exchange OKX is astonishing because he doesn’t even follow Binance or its CEO Changpeng Zhao. Binance, currently the world’s largest crypto exchange, was one of Twitter’s backers, providing $500 million to help Musk buy the company.

The crypto community is currently heavily speculating on what might be brewing and what the significance of Musk’s action might be.

OKX, formerly known as OKEx, is a cryptocurrency exchange and derivatives platform founded by Star Xu in the Seychelles. It launched in 2017 and is part of Ok Group, which also owns the crypto exchange Kucoin. Remarkably, OKX is not available to investors based in the United States.

FLOKI Token Listing A Reason? An Acquisition?

One speculation for the billionaire’s action at present is that the Floki (FLOKI) cryptocurrency could play a role. According to the developers, Floki is a cryptocurrency created by fans and members of the Shiba community and is inspired by the “DogeFather” own Shiba.  As it happens, FLOKI was listed on OKX just yesterday.

It was also revealed just yesterday that Elon Musk has sold billions of Tesla shares for the fourth time this year. The CEO made the sales from Monday to Wednesday. The total value was $3.58 billion, according to a filing with the U.S. Securities and Exchange Commission.

What Musk plans to use the money for is unclear at this time. His previous sales were presumably used to make the Twitter acquisition happen. Because of this, it is not surprising that the first rumors surfaced on Crypto Twitter that the billionaire could take over OKX. However, since there is no evidence for this so far, this opinion can be assigned to the rumor mill for the time being.

OKB Displays Cautious Pump

The revelation has once again triggered an “Elon Musk effect”. OKX’s exchange token, the OKB token, temporarily rose 8%. At press time, OKB was at $23.98, recording a 5% increase in the last 24 hours. Over the past seven days, OKB has posted a return of around 13%.

OKB price pumping after Musk revelation
OKB price, 1-hour chart. Source: TradingView

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