This Week on Crypto Twitter: Musk Goes Full Dogecoin, Pumping the Memecoin

Crypto costs remained fairly frozen during the last seven days, apart from Dogecoin. DOGE was undoubtedly the star of each Crypto and Twitter (and by extension, Crypto Twitter) this week, after the microblogging platform’s illustrious CEO, Elon Musk, modified the long-lasting blue chicken brand to an image of Doge, the Shiba Inu behind the long-lasting meme that impressed the coin.

Musk memed the makeover on Monday. He additionally reminded everybody that he first warmed to the concept final month. 

In response to brand change, DOGE ballooned 20% in lower than an hour, though the rally ran out of steam by Thursday, when the coin posted an intraday lack of over 8%. Twitter has since reverted to the outdated brand.

Additionally on Monday, Will Clemente, who co-founded digital asset analysis agency Reflexivity Analysis, shared some stats from blockchain analytics agency Kaiko highlighting the truth that all through March, Bitcoin had reached its strongest correlation with gold in additional than a 12 months. 

This was largely right down to a insecurity in TradFi establishments after critical liquidity crises swept via banks on each side of the Atlantic, affecting Credit score Suisse, and crypto/tech-friendly banks like Silvergate, Silicon Valley Financial institution and Signature. Usually, governments intervened. 

On Tuesday, Uniswap’s inventor Hayden Adams shared some stats that confirmed his trade outpacing Coinbase all through most of 2023 to date. Coinbase CEO Brian Armstrong jumped on the tweet to tell readers that his trade had rather a lot to do with Uniswap’s hefty numbers. 

That day, Mark Lamb, the co-founder of crypto trade CoinFLEX issued an open letter to Bitcoin evangelist and Bitcoin Money promoter Roger Ver providing him an “olive department” of “two years of free buying and selling on OPNX,” a newly-launched claims trade co-founded by Lamb. Alongside Ver, he included in his tweet Peter Smith, CEO and founding father of crypto trade Blockchain.com, which allegedly additionally owes CoinFLEX hundreds of thousands.

The “olive department” refers to ending a longstanding feud between the 2. Lamb alleges that Ver owes CoinFLEX for an excellent mortgage, the debt for which Lamb at the moment claims is $84 million. In June final 12 months, Lamb beforehand claimed the debt was $47 million. 

On Wednesday, MicroStrategy chairman Michael Saylor went and—yep, you guessed it—purchased extra Bitcoin. 

That day, Coinbase’s Chief Authorized Officer Paul Grewal wrote a multi-tweet thread summarizing the arguments of a distinguished authorized problem to the sanctions imposed on crypto transaction privateness mixer Twister Money again in August final 12 months. 

Robert F. Kennedy Junior, who shall be difficult Biden for the presidency in 2024, posted an extended rant towards the concept of a dollar-pegged cryptocurrency being launched by the Federal Reserve. The issue is, Kennedy both unintentionally or purposefully misinterpret the very information article he linked. The Fed’s new digital funds system “FedNow” is not a CBDC! “Pretend information!” as 45 would say.

In actual CBDC information, the European Central Financial institution seemed to be getting nearer to releasing a digital euro this week.

On Thursday, Binance CEO Changpeng “CZ” Zhao made his views on the AI arms race identified. 

Lastly, on Saturday, Chinese language blockchain journalist Colin Wu tweeted a reminder that Meta’s experiment with NFTs is about to return to an finish.