Thanks to Musk's recent antics, the prices of Dogecoin have once again surged, with a Bloomberg report indicating that the value of the cryptocurrency increased by as much as 30% following Twitter's adoption of the Doge meme logo on its homepage. The logo change caught users' attention as Musk faces a lawsuit alleging he used Twitter as a 'pump-and-dump' scheme to boost Dogecoin and profit at the expense of other investors. The investors claim that Musk intentionally drove up Dogecoin's price by over 36,000% in two years and then allowed it to crash.ĭogecoin was initially created in 2013 by software engineers Billy Markus and Jackson Palmer as a playful take on other cryptocurrencies available in the market. Tesla bought $1.5 billion of Bitcoin in February 2021, although the company offloaded 75% of its holdings amid a market downturn in mid-2022.Previously, Musk had shared an image of a 'Doge' meme sitting in a chair and wearing a CEO t-shirt, with a caption that read "The new CEO of Twitter is amazing".Īccording to Reuters, Musk is currently facing a $258 billion lawsuit filed by investors, who accuse him of running a pyramid scheme to support the cryptocurrency Dogecoin. The logo change caught users attention as Musk faces a lawsuit alleging he used Twitter as a 'pump-and-dump' scheme to boost Dogecoin and profit at the expense of other investors. ![]() as a payment processor.ĭogecoin has not been Musk’s sole foray into crypto. In January, the Financial Times reported that the company was applying for regulatory licenses to operate across the U.S. As verified Twitter users braced for the Elon Musk run social media company to begin removing verification badges en masse over the weekend, the Twitter product team appeared focused on. Dogecoin ( DOGE) surged more than 35 after Elon Musk's Twitter replaced the social-media platform's familiar blue bird atop its homepage with the cryptocurrency's iconic Shiba Inu dog logo. He first floated payments for Twitter in a pitch deck to investors in May-the platform currently has a tipping feature, although it only generates around $15 million annually. SAN FRANCISCO (KRON) Twitter users around the world Monday logged on to find the Twitter logo that usually appears at the upper left side of the site’s home screen replaced by the doge emoji. One possible path forward is transforming it into a payments service, where users would be able to transfer both fiat and cryptocurrency to creators and other users. Eastern time, sending the volatile cryptocurrency’s price soaring more than 30 in just over 30 minutes to more than 0.10the first. With Musk’s Twitter experiment proving a financial challenge, experts have speculated as to his long-term plan for the platform. Twitter changed its logo on its website at around 1:30 p.m. Twitter’s popular 17-year-old blue bird logo was swiftly updated into the face of a shiba inu dog, which is a prominent dog breed that has its roots in. Users across the globe scrambled to report the change and make sense out of it initially. The new CEO of Twitter is amazing /yBqWFUDIQH- Elon Musk February 15, 2023 The new Doge meme logo of Twitter on late Monday evening left users and the internet confused. Instead of the bright blue silhouette of a bird, users were welcomed by the official logo of the cryptocurrency Dogecoin, a derpy-looking Shiba Inu. Twitters traditional bird icon was booted and replaced with an image of a Shiba Inu, an apparent nod to dogecoin, the joke cryptocurrency that CEO Elon Musk is being sued over. In December 2021, he boasted that Tesla would begin accepting Dogecoin for some of its merchandise. Who let the Doge out Users logging onto Twitter caught sight of a new face or rather, a lack of a familiar one on April 3 when the social platform’s iconic mascot appeared to be replaced. In a stunning move, Elon Musk on Tuesday replaced the iconic blue bird logo of Twitter with a meme of the cryptocurrency. ![]() ![]() Twitter users logged in Monday to a new animal looking. Elon Musk bought Twitter for 44 billion in November last year. Musk, an infamous promoter of memes, has often latched on to Dogecoin’s internet popularity, even before buying Twitter. On April 3, Twitter's logo was replaced with a Doge, inciting confusion and speculation on the social media platform now owned by Elon Musk.
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