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Elon Musk Shows His Love Again, Says He Won’t Sell His Bitcoin, Ethereum, And Dogecoin

Mark Brennan
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Elon Musk Shows His Love Again, Says He Won’t Sell His Bitcoin, Ethereum, And Dogecoin

Elon Musk said he would not sell his Bitcoin, Ethereum, and Dogecoins.


 

Elon’s comments come in response to remarks from an earlier tweet about the “probably inflation rate” in the years ahead.

“What are your thoughts about the probable inflation rate over the next few years?’

he replied to his tweet

“Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics.”

Michael Saylor joined the conversation saying:

“USD consumer inflation will continue near all-time highs, and asset inflation will run at double the rate of consumer inflation. Weaker currencies will collapse, and the flight of capital from cash, debit, & value stocks to scarce property like #bitcoin will intensify.”

Elon Musk replied to Saylor:

“It is not entirely unpredictable that you would reach that conclusion.

As a general principle, it is better for those looking for advice from this thread to own physical things like a home or stock in companies you think make good products than dollars when inflation is high. I still own & won’t sell my Bitcoin, Ethereum, or Doge, FWIW.”

Earlier, Tesla Boss Elon Musk Responded to Charlie Munger’s Bitcoin (BTC) Criticism when Munger criticized Bitcoin and co saying he is ‘proud’ of having not invested in cryptocurrency, saying it should be banned and likens it to ‘venereal disease.

Musk answered Munger told the whole table during a lunch meeting in 2009 the possible ways Tesla would fail.

“I was at lunch with Munger in 2009 where he told the whole table all the ways Tesla would fail,” Musk said.  

Elon Musk, Micheal Saylor, and Ex Twitter Jack Dorsey have consistently shown that they deep support the Bitcoin ecosystem and believe in Bitcoin and crypto. Elon always advocates dogecoin; as Elon Musk Confirmed on Feb 17, 2022, Tesla Now Accept Dogecoin As Payment Method.

Russians Trying To Invest In UAE Real Estate By Liquidating Their Crypto Assets

Albert Brown
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Russians Trying To Invest In UAE Real Estate By Liquidating Their Crypto Assets

Russians Are Trying To Liquidate Billions of Dollars in Crypto Assets.



There are indications that wealthy Russians are liquidating their assets using cryptocurrencies. According to a CNBC report filed on Saturday, March 12, cryptocurrency firms in the United Arab Emirates (UAE) have been inundated with requests to liquidate bitcoins worth billions of dollars. 

The source said that most of the liquidation requests came from Swiss brokers whose Russian clients are eager to move their funds away from the country. Russians are moving their funds from Switzerland to preempt the Swiss government’s possible seizure of their assets as a sanctions fallout.

The report says that some clients are willing to invest in real estate while others convert their crypto to fiat.

CNBC writes:

“Some clients are using cryptocurrency to invest in real estate in the UAE, while others want to use firms there to turn their virtual money into hard currency.”

According to a Swiss broker whose firm is aware of the deals, the minimum orders that have been requested so far is $2 billion.

The source said that the influx of demand for liquidation started ten days ago. This is not surprising, considering that the Russian invasion of Ukraine that resulted in sanctions against the country commenced days earlier. The war with Ukraine has resulted in destabilizing sanctions on Russia. The energy giant is suspected of having plans to use cryptocurrencies such as BTC to mitigate the effects of the punitive measures against it.

The source said that their company had received five to six requests in the past week, even though none of the orders was successfully filled. He said that the trend represents a five-fold increase in high volume orders.

The company executive told CNBC,

“We have one guy – I don’t know who he is, but he came through a broker – and they’re like, ‘we want to sell 125,000 bitcoin’. And I’m like, ‘what? That’s $6 billion, guys’. And they’re like, ‘yeah, we’re going to send it to a company in Australia,’”

Following the recent stern measures meted on Russia’s banks by western nations, forbidding these financial institutions from accessing the Society for Worldwide Interbank Financial Telecommunication (SWIFT), many have suggested that the country could use crypto to evade sanctions.

Ripple CEO Garlinghouse noted that Russia cannot Use Crypto to Evade Global Sanctionsthat because global crypto trading platforms rely on various banking partners who could lose their licenses when a blacklisted nation or individual is able to evade all relevant measures put in place to conduct transactions on these platforms. Garlinghouse stated that cryptocurrency exchanges have established stringent measures, which include requesting their users to abide by KYC/AML requirements, in a bid to stop this unfortunate development from happening.

Stellar Development Foundation And MoneyGram in A New Partnership With Techstars

Mark Brennan
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Stellar Development Foundation And MoneyGram in A New Partnership With Techstars

Stellar Development Foundation And MoneyGram in A New Partnership With Techstars.



Stellar Development Foundation and MoneyGram have partnered with Techstars, a startup-supporting platform for financial inclusion and training of founders. This was revealed in a press release sponsored by MoneyGram on PRNewswire. According to the information on the post, the program is for early stage projects that need to be supported through the accelerator program. Its focus will be for Latin America.

 

Techstars is a global financial innovation business that supports startups through the provision of access to capital. It also supports one-on-one mentoring and customized programming for businesses.

The release stated that the partnership will entail the recruitment of entrepreneurs with the view to promote blockchain innovation through the founders’ collaboration and drive cross-border payments. The partnership will also drive financial inclusion in Latin America.

Application for First Class Training

The first stage of the partnership will focus on fintech that is involved in payment processing and will attract founders who will be mentored through the Techstars program. This comprises a 13-week immersive training, which will be done in conjunction with MoneyGram and Stellar Development Foundation. 

The application will open for the first set of trainee startups on July 25. The deadline for submissions is October 12, 2022. In the course of the training, the participants will have the opportunity to share their business vision with investors curated from several industries. This event is slated for Demo Day, which is a module in the training for the prospective founders.

Denelle Dixon, the CEO and the executive director of Stellar Development Foundation commenting on the partnership with Techstars said:

“We believe that we can improve access to the financial system for all participants, and we’re proud to work with MoneyGram and Techstars to empower the next generation of innovators to build a more inclusive and accessible cross-border payments system that takes full advantage of 21st-century technology”

Blockchain is increasingly changing the face of international remittances and payments. Stellar and MoneyGram are positioning themselves to become major players in the emerging trend.

 

Ethereum Is On Course To Become Deflationary

Mark Brennan
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Ethereum Is On Course To Become Deflationary

2000 Ethereum Burned Daily As Network Seeks To Reduce Fees.



So far the Ethereum network has burned 1.97M ETH worth $5.4 billion after a move implemented to reduce the high fees on the network. The burning mechanism that was introduced on August 5, last year now puts 2000 coins out of circulation daily.

eth burned rate
image source: https://watchtheburn.com/

The implementation is meant to help the network reduce its fees considering that most decentralized apps are hosted on the platform.

According to data available, the burning process has not been accompanied by spikes in the price of the token which is an indication that the market is increasingly adapting to the process.

With very high transaction fees unlike what is obtainable on other networks, the burning of ETH tokens was increased with the high demand for NFTs and DeFi platforms built on the network. At its peak, users sometimes paid more than $50 as transaction fees on the Ethereum network due to congestion.

The network has been working to control fees by issuing fewer tokens during periods of high service demands on its platform. WatchTheBurn, a network analysis platform showed this in charts available on the platform.

The conclusion of the analysts is that the objective of the burning, which is fees reduction, is being accomplished. This considers the fact that gas fees of 18 Gwei are now required to make transactions on the network unlike what was obtainable in the last few weeks when demand for gas for transactions was 50-60 Gwei.

BY continuous burning of Ethereum, the asset is becoming deflationary, i.e slowly but gradually ETH is reaching a stage where more ETH would be burned daily than mined. As supply is gradually decreasing on daily basis, rising demand will help ETH price increase.

There was a 67% reduction in issuance of ETH tokens since the past week, with 66,914 ETH or the equivalent of $184 million worth of the token issued. Investors are yet to see the effect of the burning since there has been no significant rise in ETH prices.

 

 

 

Cardano Community Slams Cryptocurrency Journalist for Exposing Founder Charles Hoskinson

Albert Brown
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Cardano Community Slams Cryptocurrency Journalist for Exposing Founder Charles Hoskinson

Cardano Community Slams Cryptocurrency Journalist.



The Cardano community has been furious with Laura Shin for accusing the blockchain project’s founder Charles Hoskinson of lying about his educational background. 

The popular cryptocurrency journalist shared screenshots of the multiple messages she has received ever since she published her findings of the Cardano founder. 

Commenting on the derogatory messages, Shin tweeted: 

“I’m sorry Cardano people, but this is not cool — and this isn’t even all the messages,” while sharing some of the screenshots she has gotten so far. 

 

One Twitter user with the username @rand1607 said Shin is the worst journalist he has ever seen while making a despicable description of her physical appearance. 

“You’re the worst journalist I’ve ever seen. Utter trash, senile old lady.” 

ADA’s Recent Underperformance Prompts Reaction 

The frustration in the community could be a result of fears that the project’s native cryptocurrency ADA, which has been underperforming lately, could dip further. 

ADA, which was trading around $0.87 on the day Shin accused Hoskinson of lying about his educational background, has fallen below $0.80 since. 

At press time, Cardano is changing hands around $0.793 across major cryptocurrency exchanges, including Binance, Coinbase, and KuCoin. 

 

Shin Accusing Cardano Founder 

Earlier this week, the cryptocurrency journalist accused Hoskinson of lying about his educational background. 

The blockchain company founder has on previous occasions said he dropped out of a PhD program from two universities to pursue a career in cryptocurrencies.  

Shin, who recently wrote a new book dubbed “The Cryptopian: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze,” said Hoskinson lied about his educational history after the latter called her description of him in the book as a “work of fiction.” 

Responding to Hoskinson’s comments, Shin asked if the Cardano founder could address the discrepancies between the claims that he dropped out of a PhD program and the schools’ assertion about his supposed claims. 

Meanwhile, SingularityNET CEO Ben Goertzel came to Hoskinson’s defense, saying the Cardano founder is more knowledgeable than most PhD holders. 

 

ETH Whale “Gimli” Bought 476,799 ChainLink, As Link Becomes Most Traded Token Among Biggest Whales

Zabi
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ETH Whale “Gimli” Bought 476,799 ChainLink, As Link Becomes Most Traded Token Among Biggest Whales

Chainlink (LINK) becomes the most traded token among the top 100 Ethereum (ETH) wallets.



As per recent data provided by WhaleStats, Chainlink seems to grab Ethereum’s top 100 richest whale wallets’ attention. This attention makes LINK the most traded token among them in the last 24 hours.

Besides this, Ethereum Whales are also observed to accumulate massive LINK tokens in their wallets, making LINK the 4th most purchased token.

 

According to the WhaleStats report, a total of 1,726,788 (1.72M) LINK tokens, worth a whopping $22,916,811 ($22M), have been accumulated by top Ethereum Whales with five transactions during the last 24 hours.

The well-known Ethereum Whale wallet “Gimli” was also reported to accumulate 476,799 (476K) LINK tokens, valued at $6,303,296 ($6.3M).

Gimli is the 7th biggest Ethereum whale wallet, and LINK appears to be his 22nd biggest token position by dollar value. At the time of writing, she holds 495,329 tokens, valued at $6,387,696 ($6.3M). The average purchase price per LINK token for her appears to be $13. Overall, the top 100 ETH whales are holding a total of $166,409,166 ($166M) worth of LINK.

As per data provided by CoinMarketCap, LINK is ranked as the 23rd biggest cryptocurrency of the world in terms of market capitalization, currently trading at the price of $13.30, showing almost no change for the day and is down – 74.86% from its all-time high (ATH) price of $52.88 registered on May 10, 2021.

Shiba Inu Official Growth Report: Surged 46M% in 2021, Exchanges Listing Above 100, 30M Monthly Twitter Visits And More

Mark Brennan
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Shiba Inu Official Growth Report: Surged 46M% in 2021, Exchanges Listing Above 100, 30M Monthly Twitter Visits And More

Shiba Inu (SHIB) Value Surges 46,000,000% in 2021 Following Listing Across 100 Cryptocurrency Exchanges.



It is no news that Shiba Inu is one of the most successful cryptocurrency projects globally, with the dog-themed digital currency recording major growth in adoption, value, etc. 

A Shiba Inu official blog post today shared the SHIB project’s progress so far in the past year. 

Shiba Inu Immense Growth

Despite launching in August 2020, SHIB has recorded widespread adoption, with the cryptocurrency surpassing 1,196,600 unique holders, according to data on Etherscan. 

It is worth noting that the number of unique holders stated above does not include SHIB holdings on cryptocurrency exchanges.

The massive adoption of SHIB contributed immensely to the surge of Shiba Inu’s value to a whopping 46,000,000% in 2021.

With a solid community behind the Shiba Inu project, cryptocurrency exchanges are left with no choice but to make the coin available for trading on their platform.

At the time of writing this line, SHIB is currently listed across more than 100 exchanges, including Coinbase, Kraken, KuCoin, Crypto.com, Binance, etc.

Furthermore, Shiba Inu decentralized exchange ShibaSwap earlier claimed the number one spot as the most secure crypto platform on CertiK, a leading blockchain security company.

Shiba Inu’s popularity is seen following the number of searches the cryptocurrency keeps getting globally. Per the analysis, SHIB is currently ranked as one of the top 5 most searched cryptocurrencies worldwide, with a growing social media presence.

On a monthly basis, Shiba Inu gets at least 30 million visits to its Twitter page, with 2.9 million unique followers, currently one of the highest numbers for any crypto project.

 

Growth Areas:

The Growth Breed consists their focus in the following areas:

  • External Communications & Public Relations.
  • Marketing & Social Media.
  • Strategic ‘Partnershibs’ & Community.
  •  Community Outreach & Broadcast.
  •  Market Risk Analysis & Orientation.
  • Account Management & Retention.

SHIBA Sessions:

The team says they have seen a tremendous amount of feedback and question submissions on Twitter Spaces hosted by the community.  So the team decided to launch Shiba Sessions for more voices to be heard, answers to questions, and an opportunity to connect with others.

Not Slowing Down:

Despite the growth of Shiba Inu in the past year, the team is not slowing down on the development of new projects to further solidify its spot among the most relevant projects in the industry. 

Recall that Shiba Inu has made significant progress in showing the world that it is no longer a meme coin.

The team’s efforts to further buttress this point is the launch of significant projects like a non-fungible token Shiboshi, a metaverse initiative, and a play-to-earn game, which is still under development.  

 

Ukraine Urged Tether To Block All Russian Transactions

Mark Brennan
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Ukraine Urged Tether To Block All Russian Transactions

Ukraine asked Tether To Stop All Russian Transactions.



Deputy Prime Minister and Minister of Digital Transformation of Ukraine Mykhailo Fedorov called on Tether and Paolo Ardoino, CTO of the Tether, to stop working with the Russians because of the war in Ukraine.

“Today, the entire democratic world has united against Russia to punish the bloody invaders economically. I call on @tether_to and @paoloardoino to stop any transactions with the Russians! For peace!”

 

The company did not respond directly to Fedorov, but did comment to CoinDesk:

“Tether is constantly monitoring the market to prevent illegal movements or measures that are contrary to international sanctions.”

Earlier, Ardoino announced USDT is ready to comply with all the restrictions imposed by the US authorities after receiving the appropriate orders.

The same statement was made by the head of the bitcoin exchange Coinbase Brian Armstrong. On March 7, the trading platform announced the blocking of more than 25,000 addresses associated with Russian individuals and legal entities.

The head of the Kraken cryptocurrency exchange, Jess Powell, said that users who are concerned about the possibility of the authorities freezing digital assets without a court decision should store funds in non-custodial wallets.

A Venezuela Fast-food Business Now Accept Shiba Inu As Payment Method

Zabi
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A Venezuela Fast-food Business Now Accept Shiba Inu As Payment Method

Shiba Inu (SHIB) token is accepted as a form of payment method by a new business in Venezuela called “40&20Ccs”.



Xhib Sanders, a dedicated member of the SHIB Growth Breed has recently reported via tweet that a new burger joint named “40&20Ccs” is now accepting Shiba Inu token as a form of payment method.

This business is said to be specialized in making Subway-style sandwiches and provide both delivery and pickup services to its customers in Caracas, Venezuela’s capital. They also have a strong social presence on Instagram.

Besides the Shiba Inu token, ‘ “40&20Ccs”’ is also accepting two stable coins Tether (USDT) and Binance USD (BUSD) as a form of payment in exchange for their services.

Since 2017, Venezuela is trying to beat hyperinflation with the cryptocurrency revolution, as the official Venezuelan currency Bolivar lost nearly all its value in just more than 10 years.

For the first time in history, Venezuelan President Nicolas Maduro declared the launch of the state-backed Digital Petro in a televised address on 3 December 2017, which is supposed to be backed by the country’s oil and mineral reserves and is intended to supplement Venezuela’s plummeting hard bolívar currency, as a means of circumventing U.S. sanctions and accessing international financing.

On the other hand, SHIB has been recognized as a star for crypto adoption. Even, yesterday Turkey’s Economy Minister met with Shib Army members to discuss SHIB adoption in his country as Turkey’s Lira is also facing strong depreciation against Dollar.

SHIB Growth Breed is also playing a vital role in SHIB’s mass adoption. They’re continuously inviting new businesses to adopt Shiba Inu as a form of payment method. Shiba Inu Community is also willing To Help And Donate SHIB Tokens To Ukraine

Recently Italian burger restaurant Welly’s took the Shiba Inu adoption to a whole new level. The Naples-based sandwich restaurant, which launched last year, not only added SHIB to its payment method, it also went as far as rebranding its entire business to include Shiba Inu-related concepts.

Shiba Inu Team: “Shib Official Burning Portal Testing Has Begun”

Albert Brown
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Shiba Inu Team: “Shib Official Burning Portal Testing Has Begun”

Shiba Inu Development Team Currently Testing the SHIB Burn Portal.



Shiba Inu has announced that its development team has begun testing its much-anticipated burn portal for its native cryptocurrency SHIB. 

The dog-themed project made this known today in a recent blog post where the company announced the launch of a defense breed, a team of enthusiasts responsible for protecting its ecosystem from malicious projects seeking to take advantage of the community.   

“Burning SHIB is a core aspect of our ecosystem and we are always exploring new options to burn SHIB via utility,” Shiba Inu said in a recent announcement. 

While there is no official release date for the burn portal, the development team’s initiative is being worked upon, with more details expected to be made public in the coming days, Shiba Inu announced. 

“A Burn Portal for SHIB is being currently worked on by the developer team and there is no current release date, but testing has begun with more details forthcoming.“

Why Shiba Inu Burn Portal is Needed

The Shiba Inu burn portal is being designed based on constant calls from enthusiasts.  

Many SHIB enthusiasts believe that the major reason why the cryptocurrency is yet to reach the value of 1 cent is because of the large max supply of the coin. 

According to data on Coingecko, Shiba Inu has a max supply of 1 quadrillion coins, which has not contributed positively to the utility of the coin. 

SHIB has surged 39950909.0% from its all-time low (ATL) of $0.000000000056, however, the coin’s value is still far from hitting 1 cent. 

Efforts to Reduce SHIB Supply

As part of efforts to ultimately reduce the supply of Shiba Inu coins to boost its value, the community has joined several initiatives, including purchasing and sending some amounts of SHIB to a so-called inferno wallet. 

Meanwhile, the community yesterday sent a total of 83 million SHIB to the inferno wallet via five different transactions. 

Bigger Entertainment was at the forefront of the SHIB burning exercise; however, the music and entertainment company broke many hearts when it announced that it will discontinue its burning parties, saying the initiative hurts its reputation. 

The company added that it would be launching a unique initiative that would serve the same purpose as the SHIB burn parties. 

With the development team currently testing the burn portal, it is only a matter of time before the community will stop relying on the efforts of a single entity to reduce the token’s total supply. 

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