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Elon Musk Officially Drops Twitter Deal: What Does It Mean For Dogecoin?

Mark Brennan
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Elon Musk Officially Drops Twitter Deal: What Does It Mean For Dogecoin?

 

Twitter’s future is uncertain as Elon Musk pulls out of the acquisition.



On Friday, Elon Musk, billionaire and most influential Dogecoin lover, revealed that he is pulling out of the deal to acquire Twitter as the social media platform failed to meet contractual terms on providing data on spam activity on the platform, according to multiple sources.

“Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement,” a filing by Musk’s legal team read as reported by Reuters. 

It is worth noting that the deal has been one of the most anticipated and closely watched this year. More so, as it took some time for the Twitter board to agree to the sale.

However, Musk in May revealed that he was putting the deal on hold till the company submitted the data it had on spam activity on its platform. Musk revealed that he suspected the company misrepresented the data by claiming that spam bots made up less than 5% of the users.

“It seems Twitter is ‘dramatically’ understating proportion of spam accounts represented in active user count. Twitter has either ignored or rejected requests for further information,” tweeted Fox Business reporter Eleanor Terrett attributing the statement to Musk trying to explain why the firm has yet to provide the required data.

It is worth noting that Elon Musk’s pending deal with Twitter had supported the share price of the social media platform in this increasingly difficult time for tech shares considered risky assets. Consequently, pundits expect the shares to plummet following the latest announcement. Meanwhile, Twitter has revealed that it plans to take Musk to court.

“The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery,” tweeted Bret Taylor, board chairman.

Notably, the deal has also affected the price movements of the popular meme coin Dogecoin. Announcements of the deal edging closer had often caused the token price to rise as investors speculated that the Dogecoin evangelist would integrate it as a currency on the platform for tipping features like Bitcoin, something reports said Musk had hinted at during a meeting with the Twitter board.

So far, Dogecoin is 5% down from highs of $0.07301 formed yesterday, currently exchanging hands for $0.06949 on mainstream exchanges.

“New Captain Of ETH Ship”??? As Coinbase Moves 570,00 Ethereum Worth $750M

Albert Brown
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“New Captain Of ETH Ship”??? As Coinbase Moves 570,00 Ethereum Worth $750M

 

Experts are speculating on whether the large ETH cache moved by Coinbase is a bullish move.



A Twitter post sent out by Cryptoquant CEO, Ki-Young Ju, has revealed that the US-based Coinbase crypto exchange has transferred a total of 570k ETH coins from one wallet to multiple other wallets. However, the details of these transfers are still a bit scanty at the moment.

 

No Outgoing Transactions

According to details noted by Young, the transfers seem to be just internal. There is still no outgoing transaction. Normally, outgoing transfers are destined to custodian wallets meant for OTC sales. OTC sales (or Over The Counter sales) are sales initiated by big spenders willing to buy large aches of cryptos directly from the exchange as opposed to buying via exchange trading contracts.

Young gave the addresses involved as:

https://etherscan.io/address/0x8b9861eea3b935f800561ad20b104383fd16da2b

https://etherscan.io/address/0xce0628fe851d40b35e7490c0c91c18720b694af4

https://etherscan.io/address/0x541680cbc8b8ffa13d9edff0a5b0882b85127b02

https://etherscan.io/address/0xe20bebb11e1335db7f6ea96987ff47fe09cd6985

Point to note: The above-listed are just part of the multiple wallets used by Coinbase.

Zero Effect Vs Bullish

Now, the bone of contention is whether the transferred assets could be meant for later sales or internal storage.

Speaking on that, the Cryptoquant CEO clarified that internal transfers are often just that. Nothing happens since they don’t create any impact on the market. The exchange could simply be taking measures to split up its stash for security reasons.

On the other hand, external transfers to OTC wallets mean that the assets are being availed for sale. Such a large cache of over half a million coins of such high value as ETH would ultimately create some waves in the market. Besides, according to Young, the stash may be meant to be sold to someone with deep pockets. Such a “moment” who can afford to buy $750 million worth of ETH isn’t a small fish in the game and would make them quite a huge force in the ETH market.

“Think about who can even buy $750M worth ETH at once. They are the new captain of the ETH ship.”

Yesterday as TheCryptoBasic reported 220K Ethereum were Moved To Exchanges In One Day, which was the Highest ETH exchange Inflow Since August Last Year.

 

Ethereum Whale “Gimli” Just Scooped Up 250 Billion Shiba Inu Worth $2.7 Million

Albert Brown
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Ethereum Whale “Gimli” Just Scooped Up 250 Billion Shiba Inu Worth $2.7 Million

Looks like Ethereum whales are again courting an interest in Shiba Inu.



A large Ethereum whale, known in the crypto circles as “Gimli,” has decided to diversify his crypto portfolio by acquiring Shiba Inu coins worth $2.7 million. By that math, the total number of coins bought comes to a jaw-dropping 250 billion SHIB.

Gimli Crypto Portfolio

Gimli is a known ETH whale, ranking number 235 on Whalestats. She also holds a hoard of other cryptos including MANA,  LINK,  ENJ, BAT, USDC, and FTM. Of these holdings, ETH takes up a huge chunk of his investment, holding up around 76% of his crypto portfolio, while the rest hold up close to 24%. Now, with SHIB in the mix, SHIB holds up 19% of the rest of the tokens besides ETH.

SHIB Market Movement

Details of her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at Details of her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at Details of her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at Details of her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at Details of her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at her crypto portfolio can be found here. Her entire ETH transaction log is here. The new whale development news was broken in a Twitter post by Whalestats.  It’s not immediately clear how this mega move will affect the SHIB market, but at this time, Shiba Inu is trading at $0.00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily..00001127 and posting a 5% increase daily.

Online Sneakers Marketplace Dripto Adds Shiba (SHIB) As a Payment Method

Mark Brennan
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Online Sneakers Marketplace Dripto Adds Shiba (SHIB) As a Payment Method

Dripto Adds Shiba (SHIB) As a Payment Method.



Following the widespread adoption of Shiba Inu (SHIB) across various parts of the world, online businesses have continued to accept Shib as a payment method.

As part of the growing acceptance of SHIB payments, Dripto, a leading online sneakers platform that deals with top brands like Nike, Adidas, etc has announced that it has added Shiba Inu as a payment method on its platform. 

Dripto announced this on Twitter, saying: “We’re excited to announce that Shiba Inu can now be used as a currency to shop on our platform.” 

Based on the development, Shiba Inu holders can now use the cryptocurrency to purchase the merchandise available on the platform, including sneakers as well as other fashion apparel. 

dripto

Dripto Services

Dripto is an online resale shopping platform that combines streetwear culture and crypto technology. The company offers a collection of fashionable wear, from sneakers to pullovers. 

Aside from merchandise offered by the company, individuals can choose to become resellers by going through the required registration process to get started. 

The rationale behind the online marketplace is to make fashion items affordable for everyone. It is worth noting that the online resale shopping platform has its native cryptocurrency dubbed Dripto (DRYP). To purchase any of the available fashion items, users will be required to have some amount of Drip Token (DRYP). 

Growing Adoption of Shiba Inu 

The acceptance of Shiba Inu as a payment method is another milestone to bolster the utility of cryptocurrency. Since the launch of Shiba Inu in August 2020, digital currency has been adopted across various platforms. 

As reported by TheCryptoBasic, Shiba Inu recorded a major milestone last month after Coinbase Pay added support for the cryptocurrency to be used as a payment method by online merchants. 

Shiba Inu reacted positively to the development as the cryptocurrency is up 5% in the last 24 hours, according to data on Coingecko. SHIB is currently changing hands at $0.00001120. 

Ducati And NFT Pro Have Joined Forces To Deploy NFTs On Ripple

Mark Brennan
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Ducati And NFT Pro Have Joined Forces To Deploy NFTs On Ripple

 

Ducati Has Entered Into A Partnership With NFTs Pro In Order To Deploy NFTs On Ripple.


 

In conjunction with NFT PRO, the leading corporate white-label NFT solution for worldwide brands, Ducati has announced its debut in WEB 3.0. Ripple, the premier blockchain partner offering technical assistance on the ultra-fast, low-cost, and carbon-neutral XRP Ledger (XRPL) blockchain, will be used in the deployment of upcoming Ducati initiatives.

Through the establishment of this relationship, the motorcycle company located in Bologna has shown its recognition of the significance of the digital world to the experiences it provides for its devoted customers.

Over the course of the next several months, a number of Web 3.0 operations will be established via the establishment of new digital aggregation spaces, NFT collections, and possibilities to engage in the new activities characteristic of the Web 3.0 universe using Ripple blockchain, which is already significant in the crypto world.

Throughout the first generation of digital services, Ducati has been a pioneer in adopting new technology to engage, entertain, and nurture the huge community of its followers worldwide.

For Ducati’s digital strategy, entering the WEB 3.0 era is seen as a natural progression toward an experience that, while maintaining the joy of riding and sharing one’s passion with other community members at the center, will also be able to benefit from new products and services created in collaboration with a reference player such as NFT PRO.

Ducati says “Upcoming Ducati projects will be deployed using Ripple, the leading blockchain partner providing technical support on the ultra-fast, low-cost, and carbon-neutral XRP Ledger (XRPL) blockchain.”

In related news, Ripple has been in the midst of a lawsuit with the Securities Exchange Commission (SEC) in the United States. This case came about after the SEC accused Ripple of generating over $1.3 billion via an unregistered, ongoing digital asset securities offering. Ripple has denied the allegations made by the SEC and the case is expected to come to an end very soon.

Dogecoin Still The Top Memecoin As BabyDoge 41x While Shiba Inu 1.4x Smaller Than Doge

Mark Brennan
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Dogecoin Still The Top Memecoin As BabyDoge 41x While Shiba Inu 1.4x Smaller Than Doge

 

Dogecoin (DOGE) is Still The Best Memecoin.



With BabyDOGE 41x smaller than Dogecoin, and SHIB 1.44x smaller, DOGE remains the best meme coin in terms of market valuation.

According to crypto data aggregator, CoinGecko, BabyDOGE will need at least a 1000% surge in market cap to be able to get to where its elder coin is in terms of market value.

babydoge 41x smaller than doge

Image source: Twitter

Whereas Shiba Inu will need a surge of about 43% to reach DOGE’s current market capitalization.

In terms of market value, Dogecoin, the biggest meme currency, had a bad month in June. More than 22% of the cryptocurrency’s value was lost in one month, from just over $0.086 to just under $0.067 at the end of the month. The headline statistic, however, hides a large degree of uncertainty. 

Dogecoin’s short-and long-term outlooks are both gloomy as the month of July kicks off. The recent rejection of the 50-Day Moving Average and downtrend indicates that the cryptocurrency’s near-term momentum will likely lead it back down to previous lows around $0.05. At the time of writing, DOGE is valued at $0.068999, up 0.4% in the last 24 hours and 5.3% in the past seven days. DOGE market cap is $12,671,391,976.

Shiba Inu had an erratic June. SHIB lost a little under 12 percent in November, closing at over $0.000010. Memecoin plummeted to the low $0.000007s, down roughly 40% on the month.

Long-term technicals show Shiba Inu’s trend is negative, despite a near-term gain to $0.000017. Since the beginning of this year, cryptocurrency has plummeted by 70%. SHIB is now at $0.00001084, up 2.7% in 24 hours and 6.5% in 7 days. SHIB’s current market value is $6,419,778,580.

BabyDOGE’s third-largest meme currency by market capitalization and Dogecoin’s progeny had a turbulent June. The cryptocurrency hit $0.0000000025 on 1 June and $0.0000000011 at mid-month.

BabyDoge has 1.4 million Twitter followers, 283K Instagram followers, and 200K Telegram users. This robust community shows BabyDoge might succeed among non-Dogecoin/Shiba Inu meme currencies. BabyDOGE is valued $0.000000001407, up 2% in 24 hours and down 19% in 7 days.

More Selling Pressure Ahead as Mt Gox Victims’ 150,000 Bitcoin Repayment Edges Closer

Mark Brennan
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More Selling Pressure Ahead as Mt Gox Victims’ 150,000 Bitcoin Repayment Edges Closer

Mt Gox Set To Release 150,000 BTC Into The Markets, Here’s What Could Happen To Bitcoin’s Price.



A new document dated July 6 to victims of the sensational Mt Gox exploit has revealed that the now-defunct exchange might be ready to begin repayment processes.

“The Rehabilitation Trustee is currently preparing to make repayments  (‘Repayments’) by the approved rehabilitation plan of which confirmation order of the Tokyo District  Court  (the ‘Court’)  was made final and binding on November  16,  2021 (the “Rehabilitation Plan”),” read the letter signed by the Trustee in charge of the process Attorney Nobuaki Kobayashi.

Mt Gox once stood at the top of the crypto world as the largest Bitcoin exchange, processing 70% of all Bitcoin transactions. However, it all came crashing down in 2014 when the firm revealed that it had lost 850,000 BTC to hackers in what is considered the largest Bitcoin theft. It is worth noting that in October 2020, the firm announced that it had recovered 150,000 BTC from the loot.

According to the released document, the affected parties would be able to collect repayments in either cash, Bitcoin, or Bitcoin Cash. Consequently, it has led to concerns about increased selling pressure on Bitcoin.

It is worth noting that at the time of the exploit, Bitcoin was worth just about 2% of its current price. As such, speculators expect many victims to sell as soon as they receive payments.

While no specific date for the repayment has been set, pundits believe it could be terrible for Bitcoin. Notably, Bitcoin has already had a challenging year falling over 70% from the highs it formed in November.

The markets have remained risk-off over fears of economic shrinking as central banks struggle to rein in inflation. As things stand, there is already increased selling pressure as miners capitulate. 

At the time of writing, Bitcoin is trading around the $21,600 price point. Notably, it had earlier claimed the $22k price point. It is currently 5.73% up in the last 24 hours and 12.81% up in the last week.

Brazil Police Bust Gang Using Bitcoin To Launder Money Made From Illegal Gold Mining

Mark Brennan
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Brazil Police Bust Gang Using Bitcoin To Launder Money Made From Illegal Gold Mining

 

Brazil’s anti-corruption agency has broken up a group accused of utilizing cryptocurrency to hide the proceeds of illicit gold mining.



According to Reuters, On Thursday, the Federal Police of Brazil carried out an operation against an accused criminal organization that they claimed laundered money obtained from illicit gold mining using Bitcoin and other cryptocurrency tokens. During the course of the operation, police made five arrests and carried out sixty search and seizure orders.

According to the federal police, the operation, which was given the code name “Greed,” included health care businesses that, since at least the year 2012, had been laundering money obtained from the unlicensed mining of gold in the northern state of Rondonia. 

According to the authorities, the criminal organization laundered money using a variety of means, including the use of its own proprietary crypto coin to move around billions of dollars.

It was stated that the token, which was developed by one of the organization’s front companies and used to justify the amounts that resulted from the illegal extraction of gold, was used to make the amounts appear as if they were the investments of third parties who were interested in receiving dividends.

According to a financial investigation carried out by the federal police, between 2019 and 2021, more than 16 billion reais, equivalent to $3 billion, passed through the group’s bank accounts.

In addition, according to the police, the organization was the owner of a mining firm that was responsible for the laundering of gold that was obtained from other illicit mines located in the northern region of the nation while using environmental licenses that were illegitimate.

As a result, the Federal District Public Prosecution in Brazil’s center-west area has established its own cryptocurrency investigative section. They want to help other prosecutors with cryptocurrency investigations and educate consumers on how to use cryptocurrencies safely and responsibly.

U.S. Residents Can Now Buy Ripple (XRP) Using Credit Card And ApplePay

Lele Jima
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U.S. Residents Can Now Buy Ripple (XRP) Using Credit Card And ApplePay

A leading decentralized exchange has offered U.S. residents the opportunity to directly purchase XRP.


Leading decentralized exchange based on the XRP Ledger, onXRP, has announced that U.S. citizens can now purchase Ripple (XRP) directly from the platform.

According to an announcement made by the trading platform, people residing in the United States and various parts of the world can purchase XRP using their credit cards and Apple Pay.

The initiative will enable United States residents, except those living in New York and Hawaii, to directly purchase the seventh-largest cryptocurrency by market capitalization.

OnXRP noted in a statement that the ability to offer direct XRP purchases on its platform was made possible after it integrated Banxa’s fiat on-ramp solution.

“We present to you our fiat onramp powered by @BanxaOfficial that can be found under “cash” on our dex or directly at: https://dex.onxrp.com/onRamp. Global and U.S. citizens (apart from NY and Hawaii) can buy XRP easily now using Credit card and Apple Pay,” OnXRP stated.

The decentralized exchange noted that while the service is currently not supported in Canada, it is exciting to offer residents in multiple U.S. states the ability to buy XRP.

“Everyone should have the freedom to decide to buy XRP,” Banxa added.

Huge Win For XRP Community

This development is an important milestone for the Ripple community. Following the announcement, more people, including residents of selected U.S. states, will now have access to digital currency.

U.S. Exchanges Discontinue XRP Support After Ripple-SEC Lawsuit

It is noteworthy that U.S.-based cryptocurrency exchanges were forced to discontinue XRP support on their respective trading platforms after the SEC slammed a lawsuit against Ripple.

The agency claimed Ripple violated its rules by offering unregistered securities within its regulatory purview. With the lawsuit still ongoing, U.S.-based exchanges were left with no choice but to de-list XRP from their platforms.

The exchanges fear that if Ripple loses the lawsuit, they could be charged by the SEC for facilitating the trading of an unregistered security.

Unfortunately, the lack of support for XRP across U.S.-based exchanges has done enough damage to the value of the coin.

XRP is down over 50% since Ripple was officially charged by the Securities and Exchange Commission.

Meanwhile, news of enabling U.S. residents to purchase XRP had a slight impact on the value of the cryptocurrency. At press time, XRP is trading at $0.34, up 4% in the last 24 hours.

Merchants Can Now Accept BabyDoge As Payment As FCF Pay Adds Support For The Meme Coin

Zabi
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Merchants Can Now Accept BabyDoge As Payment As FCF Pay Adds Support For The Meme Coin

Canadian Payment Gateway FCF Pay Added Support for Baby DogeCoin (BabyDoge) and Will Introduce “Burn Feature” Soon.



Over 5 million online stores can now accept baby DogeCoin (BabyDoge) as payment all across the globe.

Following the listing of SHIB Trifecta (SHIB, BONE, and LEASH), Canada-based Payment Gateway FCF Pay also added support for Baby DogeCoin (BabyDoge).

FCF Pay seems to love Community tokens – especially canine-themed cryptocurrencies. On July 7th (Thursday), the E-Commerce payment solution provider company listed the “Trifecta” of the most popular canine-themed cryptocurrency, SHIB. The SHIB trifecta includes all the three tokens of the Shiba Inu ecosystem, i.e., Shiba Inu (SHIB), Bone ShibaSwap (BONE), and the Dogecoin Killer (LEASH).

Following the listing of SHIB Trifecta, FCF Pay declared that BabyDoge can now also be accepted as payment by E-Commerce merchants all across the globe via installing FCF plugins to their online stores. With the help of this listing, BabyDoge can now be accepted at more than 5 million online stores as payment since the Canadian payment gateway supports all major E-Commerce platforms, including Woo Commerce, Magento, and Prestashop.

The decision comes after BabyDoge’s Community gave a tough competition to SHIB Army on the Twitter Poll organized on July 1st by FCF Pay. In the Twitter Poll, FCF Pay asked the community to vote for their favorite coin. The company provided the communities with four choices: Baby DogeCoin (BabyDoge), Polygon (MATIC), The Dogecoin Killer (LEASH), and Polkadot (DOT).

There remained a tough competition between BabyDoge’s Community and SHIB Supporter, but finally, LEASH won the race securing over 50% of the votes. BabyDoge took the second spot with 45.7% votes.

Seeing this, FCF Pay has run another poll on their official Discord Channel in which the leading E-Commerce payment solution provider appreciated the effort of the BabyDoge Community and asked whether they should list BabyDoge anyway put them in another poll on Twitter. The Community rushed to vote in favor of listing BabyDoge anyway, and finally, FCF Pay listed BabyDoge.

FCF Pay also announced to support BabyDoge burn soon. The firm said it would implement a “Buyback Mechanism” to burn BabyDoge. However, no more details about the Burn feature have yet been disclosed by the company.

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