On January 23rd, Rus Yusupov, co-founder of short video platform Vine, announced the release of VINECOIN on the X platform and released a video to confirm that the account was not stolen. VINECOIN's market value once exceeded 20 million US dollars. Mr. Musk had previously said on January 19 that the X platform was considering restarting Vine, a well-known six-second short video platform owned by Twitter that was founded in 2012 and shut down its core service in 2017.