Crypto News: Elon Musk Denies Twitter Token Rumors
In the midst of Twitter’s rebrand to X, rumors of a potential X token emerged. However, Elon Musk quickly shut down the speculation, stating that neither he nor the platform have launched a token and never will.
Key Points:
– TwitterDAO token experienced a pump and dump, raising suspicions of a scam.
– The token had no social media presence and could only be swapped for WETH on decentralized exchanges.
– After surging nearly 12,000% in 10 hours, the price quickly plummeted.
Coinbase Launches Base Mainnet
Coinbase’s Base mainnet was launched this week, following its testnet release in February. Described as a secure, low-cost, developer-friendly Ethereum Layer 2 blockchain, Base aims to attract the next billion users to Web3. Coinbase funded its development and plans to utilize the blockchain for new products. The project also emphasizes decentralization and aims to build an open ecosystem beyond Coinbase.
Hal Finney’s Connection to Bitcoin
Speculation surrounding the true identity of Satoshi Nakamoto has always included Hal Finney as a prime candidate. Finney, a brilliant computer scientist and committed cypherpunk, denied being Satoshi but was involved in the Bitcoin network from the beginning. He received the first Bitcoin transaction from Nakamoto’s wallet in 2008. Finney’s family was able to pay for his medical treatment using Bitcoins he had secured in the early days of the network.
Top Performers in the Crypto Market
Shiba Inu (SHIB) emerged as the top-performing cryptocurrency of the week, with a nearly 20% price increase. THORChain (RUNE) came in second place, rising by 16.5%, followed by OKB with a little over 14% growth.
Bullish Outlook for Bitcoin Price
As the Bitcoin halving approaches, industry players are speculating on the asset’s future price. Many believe that Bitcoin will surpass $100,000, with some even predicting it may reach this milestone before the halving next April or May. Adam Back, Blockstream CEO, is confident that BTC will break previous records and exceed $100,000. He even made a bet on this outcome. Other industry figures, such as Samson Mow, Jan3 CEO, share a similar bullish sentiment.
SEC Appeals Ripple Case Ruling
The Securities and Exchange Commission (SEC) has announced that it will appeal a judge’s ruling that the sale of XRP to retail investors does not classify it as a security. The SEC argues that an interlocutory review is necessary to potentially impact similar lawsuits awaiting resolution. The court’s decision partially favored both the SEC and Ripple, the developer of XRP, stating that XRP is not a security when sold to retail investors but is when sold to institutional investors.
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