This Week on Twitter Crypto: Musk Dogerolls Twitter, Pumping the Memecoin

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Illustration by Mitchell Preffer for Decrypt

Crypto prices have remained fairly frozen over the past seven days, with the exception of Dogecoin. DOGE was undoubtedly the star of Crypto and Twitter (and by extension, Crypto Twitter) this week, after illustrious microblogging platforms CEO Elon Musk changed the iconic blue bird logo to a photo of Doge, the Shiba Inu behind the iconic meme. who inspired the piece.

Musk memorized the makeover on Monday. He also reminded everyone that he first warmed to the idea last month.

In response to the logo change, DOGE inflated 20% in less than an hour, although the rally petered out on Thursday when the coin posted an intraday loss of more than 8%. Twitter has since reverted to the old logo.

Also on Monday, Will Clemente, who co-founded digital asset research firm Reflexivity Research, shared stats from blockchain analytics firm Kaiko highlighting the fact that throughout March, Bitcoin had reached its highest point. strong correlation with gold for over a year.

This was largely due to a lack of confidence in TradFi institutions after severe liquidity crises swept through banks on both sides of the Atlantic, affecting Credit Suisse and crypto/techie banks like Silvergate, Silicon Valley Bank and Signature. In most cases, governments have intervened.

On Tuesday, Uniswaps inventor Hayden Adams shared some stats that showed his exchange was outpacing Coinbase for most of 2023 so far. Coinbase CEO Brian Armstrong jumped on the tweet to inform readers that his exchange had a lot to do with Uniswaps’ high numbers.

That day, Mark Lamb, the co-founder of crypto exchange CoinFLEX published an open letter to Bitcoin evangelist and Bitcoin Cash promoter Roger Ver offering him a two-year olive branch of free trading on OPNX , a newly launched claims exchange co-founded by Lamb. Alongside Ver, he included in his tweet Peter Smith, CEO and founder of crypto exchange Blockchain.com, which also owes CoinFLEX millions.

The Olive Branch refers to the end of a long-running feud between the two. Lamb alleges that Ver owes CoinFLEX an outstanding loan, the debt for which Lamb is currently claiming $84 million. In June last year, Lamb previously claimed the debt was $47 million.

On Wednesday, MicroStrategy President Michael Saylor went and yes, you guessed it, he bought more Bitcoin.

That day, Coinbases Chief Legal Officer Paul Grewal wrote a multi-tweeted thread summarizing the arguments for a major legal challenge to the sanctions imposed on crypto transaction privacy mixer Tornado Cash in August of this year. last.

Robert F. Kennedy Jr., who will challenge Biden for the presidency in 2024, posted a lengthy rant against the idea of ​​a dollar-pegged cryptocurrency released by the Federal Reserve. The problem is that Kennedy, accidentally or deliberately, misread the news article he linked. The new federal government digital payment system FedNow is not a CBDC! Fake news! like 45 would say.

In real news from the CBDC, the European Central Bank seemed to be getting closer to releasing a digital euro this week.

On Thursday, Binance CEO Changpeng CZ Zhao shared his views on the AI ​​arms race.

Finally, on Saturday, Chinese blockchain journalist Colin Wu tweeted a reminder that Metas’ experiment with NFTs is about to end.

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