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Dogecoin Is The Last Minute Winner Of Crypto Bloodbath, Thanks To Elon

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Dogecoin Is The Last Minute Winner Of Crypto Bloodbath, Thanks To Elon

In a tweet on June 19, Musk said “I will keep supporting Dogecoin”. Musk’s tweets were reflected in the Dogecoin markets very quickly.

Tesla and SpaceX CEO Elon Musk’s tweets continue to have a noticeable impact on the markets for Dogecoin, the largest “meme coin” by market capitalization. In a tweet on June 19, Musk said “I will keep supporting Dogecoin”. Musk’s tweets were reflected in the Dogecoin markets very quickly. Only about 5 minutes after the first tweet, the price of DOGE spiked from US$0.052 to US$0.055 and peaked at US$0.062 later in the day amid positive price action displayed by the broader cryptocurrency market. In the tweet thread, one of the individuals suggested to ‘keep it buying then’, to which Elon Musk replied with an ‘I am’.

Further lending support to cryptocurrencies, Dogecoin creator Shibetoshi Nakamoto said, “If Dogecoin is a pyramid scheme, so is the entire cryptocurrency market, stock market, commodities market, and monetary system itself. Let’s sue Alexander Hamilton.” “Cryptocurrency has an incredible amount of stupid stuff around it, but that’s all just related to how incredibly stupid people are. Cryptocurrency itself is just a protocol and a shared database”, he adds.

Lawsuit against Musk

When it’s Musk controversies are a must. Last week, a Dogecoin cryptocurrency investor in the US sued Musk, Tesla, and SpaceX for US$258 billion for allegedly operating an illegal racketeering enterprise to inflate the price of Dogecoin. In a filing against Musk and his companies, plaintiff Keith Johnson, a U.S. citizen, alleges that Musk and his corporations were “unjustly enriched” by US$86 billion as a result of wire fraud, gambling enterprise, false advertising, and deceptive practices, and other unlawful conduct.

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Johnson claims that he and others in the class-action have lost approximately US$86 billion between May 2021 and June 2022 and is demanding that figure in monetary damages along with another US$172 billion in damages and fees.

The lawsuit stated, “Defendant Musk is the self-appointed ‘Dogefather,’ ‘former CEO of Dogecoin,’ partner, developer, spokesperson, publicist, salesman, marketer, and promoter of Dogecoin, who assembled the ‘Doge Army’ including his corporations and various billionaires, influencers, and celebrities to increase the price, market cap and trading volume of Dogecoin.”

Whales continue to accumulate Dogecoin in huge volumes

The Dogecoin cryptocurrency started the meme revolution and has remained the most popular coin on the planet. It has a loyal army of supporters on social media and is widely accepted as a payment currency by many businesses across the globe. The DOGE Token is being widely accumulated by many whale accounts who are taking advantage of the dipping season. Recently, whales accumulated US$31.6 million worth of DOGE in a single day which shows the amount of faith in this meme cryptocurrency. The Dogecoin ecosystem has a history of providing support to various charitable causes. The DOGE Token has seen a strong price rise in the past and could be accumulated for potentially huge gains in the future too.

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Testnet version

Dogecoin developers announced the testnet version of the new utility-focused Dogechain offshoot is now open for developers to start building before the mainnet’s official launch. “Dogechain is built on Polygon Edge, which lets the project bootstrap a new blockchain network while providing full compatibility with Ethereum smart contracts and transactions. It uses IBFT (Istanbul Byzantine Fault Tolerant) consensus mechanism, supported PoS (proof-of-stake).”

According to the project website, features will include games, non-fungible tokens (NFTs) decentralized finance (DeFi), and other decentralized applications (DApps). DOGE itself will be used as gas to power the new chain which operates as a proof-of-stake mechanism. The new DC native token will be distributed via airdrop to DOGE holders at an unspecified date, with information regarding the snapshot also yet to be announced.

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The post Dogecoin is the Last Minute Winner of Crypto Bloodbath, Thanks to Elon appeared first on .

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Argentina

Singapore Based Crypto Exchange Bybit Expands To Argentina

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Singapore Based Crypto Exchange Bybit Expands To Argentina

Bybit, a Singapore-based cryptocurrency exchange, has announced it will be expanding its operations to Argentina. The exchange wants to offer Argentinian citizens another platform on which to transact, given the popularity that the cryptocurrency industry is enjoying in the country. The exchange will also have a dedicated team to support Argentinian operations.

Bybit Lands in Argentina

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The growth of the cryptocurrency industry in Argentina has not gone unnoticed by international companies. Bybit, a Singapore-based, top-ten crypto exchange by volume traded, has announced that it will expand its trading operations to support Argentinian customers directly.

To better achieve this goal, the company will dedicate a team to attend to applicable requirements and support its upcoming Argentinian customers, allowing them to transact, purchase, and sell cryptocurrencies on Bybit’s platform. Also, the platform will be available in Spanish, the native language of the country.

Regarding this development, the exchange declared:

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Taking into account the level of penetration and the rapid growth in the adoption of cryptocurrencies in Argentina, Bybit has made this decision, which is due to the importance of the Argentinian market in the Latin American region.

Due to all of this, Bybit considers it is the right time to expand its operations to the country, given that there is an opportunity for onboarding users still new to the cryptocurrency movement.

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Argentinian Crypto Appeal

In recent years, Argentinians have been getting closer and closer to crypto, with this phenomenon starting after the government established limits to the number of dollars citizens could exchange, establishing a foreign currency exchange control, similar to the one established by the Venezuelan government before that. Inflation numbers have also influenced the interest in this new, alternative financial system.

The exchange is betting that this newfound interest in crypto, due to national and international market conditions, will power the demand of Argentinian users in the near future for new applications. About this, Gonzalo Lema, director of Bybit operations for Argentina, stated:

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Although macroeconomic conditions have become a factor in increasing the adoption of cryptocurrencies in Argentina, as the customer base grows, interest in other potential uses of these assets will increase, such as the possibility of receiving remittances or even paying for goods and services with them.

The company will offer all of its available services and investment instruments in Argentina, and an APY of 22% on Dai deposits, to Argentinians registering before July 11.

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What do you think about the new expansion plans that Bybit has for Argentinian markets? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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‘Suicide’ note

John McAfee’s Body Is Still In A Spanish Morgue A Year After He Passed, His Widow Wants Answers

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John McAfee’s Body Is Still In A Spanish Morgue A Year After He Passed, His Widow Wants Answers

A year ago on June 23, the anti-virus software tycoon John McAfee was found dead in a Spanish prison after Spain’s high court approved McAfee’s extradition to the United States. Today, McAfee’s body is still in a Spanish morgue as a legal case involving an independent autopsy is yet unresolved.

John McAfee’s Controversial Death Investigation Is Still in Limbo

The now-deceased cryptocurrency proponent and anti-virus software tycoon John McAfee’s corpse is still in the morgue after an entire year has passed since his alleged suicide. McAfee reportedly took his own life on June 23, 2021, after he was wanted for tax evasion by U.S. law enforcement officials. At the time, a Spanish high court authorized McAfee’s extradition to America to face the tax-related criminal charges.

Before Spain’s high court approved the preliminary extradition ruling, McAfee was arrested in October 2020 at Barcelona–El Prat Airport. McAfee was charged by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). He was charged by SEC for his involvement in promoting initial coin offerings (ICOs) and the DOJ charged him with “tax evasion and willful failure to file tax returns.”

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After his death a number of conspiracy theories started showing up on social media and forums that said he allegedly activated a dead man’s switch. McAfee told people on many occasions that he would never take his own life and that if he was found dead by suicide it really meant he was “whacked.” McAfee had the word “whackd” tattooed to his body and he also released an ERC20-based token called “whackd (WHACKD).” The smart contract was called “Epstein,” and a number of theories stemming from several Q Anon members and 4chan posts attempted to connect the dots.

Tech Entrepreneur’s Widow Still Believes ‘John McAfee Did Not Kill Himself’

Janice McAfee, the anti-virus software tycoon’s widow, doesn’t believe her husband committed suicide, and the family’s attorney Javier Villalba told the press that Janice wanted an independent second autopsy after Spanish authorities completed the official autopsy. The second autopsy had not yet been granted and a local judge denied the request. While McAfee’s remains still rest in the Spanish morgue, the family has appealed the Spanish high court judge’s decision as Janice believes the official autopsy was incomplete.

“It’s difficult to put into words what life has been like this past year,” McAfee’s widow Janice explained on Thursday. On her Twitter page, Janice said: “One year ago today John McAfee was stolen from us. [He was] a champion of freedom [and] privacy, the world is a much darker place without him.” One of Janice’s hashtags in the tweet also said “#johnmcafeedidnotkillhimself.”

A judge in Spain further ruled that until the independent autopsy appeal is complete, McAfee’s corpse cannot be delivered to the family. Catalonia’s court officials did not respond to comments about the situation, but a Spanish justice department official said that it was unusual for bodies to be kept in a morgue for so long.

What do you think about the fact that John McAfee’s body still remains in the Spanish morgue? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Why Has Polygon (MATIC) Become The Go-To Blockchain For New Projects Like Xchange Monster (MXCH) And The Sandbox (SAND)?

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Why Has Polygon (MATIC) Become The Go-To Blockchain For New Projects Like Xchange Monster (MXCH) And The Sandbox (SAND)?

When new crypto projects are in development, one of the biggest factors to consider is which blockchain to build the project on

All of the big blockchains, from Ethereum (ETH) to Binance (BNB) to Solana (SOL), have aspects that make them appealing to new developments. However, another blockchain with many appealing aspects is Polygon (MATIC).

But what is it about Polygon (MATIC) that has drawn projects like Xchange Monster (MXCH) and The Sandbox (SAND) to it?

The Appeals of Polygon (MATIC)

There are many advantages to Polygon (MATIC) for new projects, however, one of the biggest is the speed and cost-efficiency of transactions on the blockchain.

Polygon (MATIC) has some of the lowest transaction costs compared to other big-name blockchains, backed up by these transactions being firmly secure and fast. For Polygon (MATIC), cheap transactions do not mean less efficient transactions.

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Furthermore, Polygon (MATIC) has been designed with scalability and interconnectivity in mind, providing tools for dApp and platform developers looking to make their program the next big thing in the crypto space.

As an Ethereum (ETH) scaling platform, this also means dApps and projects built on Polygon (MATIC) have easy accessibility to Ethereum (ETH) users, meaning that combined with Polygons (MATIC) interconnectedness, these projects can reach huge audiences, and have the potential to become staples in the crypto community.

While there are many other reasons, these are the key appeals of Polygon (MATIC) to project creators.

Xchange Monster (MXCH) and the Need For Speed

Cheap and fast transactions are a key way that a project can maintain users, and bring in new ones. Having fast transactions means users do not have to worry about price fluctuations during transaction times, and cheap transactions mean that tokens can be spent more willingly, resulting in a more active economy.

This is the primary appeal that Polygon (MATIC) for crypto gaming exchange platform Xchange Monster (MXCH), whose plans to build a thriving, multi-game platform with a unified token and trading system can be achieved best through these aspects of the Polygon (MATIC) blockchain.

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Giving users more power over their finances by removing slow or expensive transactions is especially key for Xchange Monster (MXCH), as one of their primary audiences is gamers – including those with little to no crypto experience.

While the speed and price of transactions are key ways to draw in new users and build engagement, these aspects alone are not enough, and Xchange Monster (MXCH) knows this. As such, they have created an interface that is highly simple to use, with large buttons and simple layouts streamlining the process of making these transactions.

Furthermore, Xchange Monster (MXCH) has integrated complete financial flexibility into its process, allowing for trade between fiat and cryptocurrencies to be done with ease. This includes trade and exchange with other tokens through their multi-chain wallet, and transitions transferring crypto into fiat, which xChange Monster (MXCH) estimates can be done in as few as three clicks.

For gamers, it is not a platform to pass on.

The Sandbox (SAND) Makes a Shift

Despite being initially built on Ethereum (ETH), The Sandbox (SAND) has made its intentions clear- that it will be incorporating Polygon (MATIC) into its system, to deal with the popularity and growth of its platform.

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The scalability of Polygon (MATIC), combined with its speed, makes it a perfect blockchain for The Sandbox (SAND) to migrate some of its assets to, as the blockchain has been designed with platform growth in mind. Being a top 50 cryptocurrency according to CoinMarketCap, this is something that The Sandbox (SAND) has been experiencing rapidly.

The Sandbox (SAND) is proof that, while Ethereum (ETH) can be a good choice for new projects, it may not be a perfect one. Polygon (MATIC) offers fantastic features that can amplify and further The Sandbox’s (SAND) popularity, meaning its value is likely to continue to rise in the future.

Therefore, The Sandbox (SAND) is certainly a project to keep an eye on.

Presale: https://xchangemonster.boostx.finance/register

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Website: https://xchangemonster.com/

Discord: https://discord.gg/M5hu5HwbeJ

Telegram: https://t.me/xchangemonsterofficial

Twitter: https://twitter.com/Xchange_Monster

The post Why Has Polygon (MATIC) Become the Go-To Blockchain For New Projects Like Xchange Monster (MXCH) and The Sandbox (SAND)? appeared first on .

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