Short video platform Vine Lianchuang announced the issuance of VINECOIN, with a current market value of approximately US$27 million.

PANews reported on January 23 that Rus Yusupov, co-founder of the short video platform Vine, announced the issuance of VINECOIN on the X platform and released a video to confirm that the account had not been stolen. The market value of VINECOIN once exceeded US$90.65 million, but has now fallen back to US$27 million.

Musk had previously stated on January 19 that X Platform was considering restarting the Vine service. Vine was once a well-known 6-second short video platform owned by Twitter. It was established in 2012 and closed its core services in 2017.