Elon Musk’s father launches meme coin to fund for-profit scientific institute

Errol Musk and Nathan Browne intend to collect between $ 150 million and $ 200 million from the Mèce Musk IT for a lucrative scientific institute

Errol Musk, father of Elon Musk, and his trading partner Nathan Browne recently said Fortune that it plans to lift between $ 150 million and $ 200 million in a new Musk IT token project (MUSK). The funds will go to the Musk Institute, an Errol for -profit reflection group is founded to advance its scientific activities, including the development of flying vehicles.

To be clear, Errol Musk and Browne are not the creators of musk It Coin. They approved his name and decided to join the token after designing the idea of ​​the Musk Institute at the end of last year. They are now ready to publicly support the same corner. However, they did not disclose specific details on the tokenomic or the structure of the project in the Fortune interview.

Elon Musk has no involvement in the Musk IT project. In this interview, Errol expressed his frustrations at the idea that he should not launch a token under the name of musk because the investors will probably associate him with his son. “It really started with me in our family-I have” transferred “it for years,” he said Fortune. “If someone counts on Elon to approve or contribute, then I think it is missing the point,” said Browne.

Musk he was launched in December 2024. He reached a summit of $ 0.3322 on January 31 following the news of the association of Errol Musk. However, the price has since fallen at $ 0.0,2603. The part is available on several exchanges, including Raydium, Mexc, Meteora, Weex and Bingx, according to Coinmarketcap.