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SEC Could Be Alerted By Elon Musk’s Bitcoin Endorsements On Twitter

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The Securities and Exchange Commission aka SEC has been making a lot of news in the crypto-verse. SEC’s latest lawsuit against the prominent cryptocurrency network Ripple had completely negated XRP’s efforts to move to $1. While the altcoin was finally recovering, SEC did not take back its accusation of XRP being a security as opposed to a cryptocurrency. But now, certain lawyers suggested that Elon Musk, the founder of Tesla could possibly find himself in trouble with the financial regulator if he continued using social media to boost Bitcoin or any other asset.

SEC Could Probe Celebrity Endorsements

A prominent news portal revealed that certain legal advisors suggested that Musk could be called out for having an impact on the price of cryptocurrencies through his tweets. Doug Davison was previously part of the SEC and is currently a partner at a law firm called Linklaters. Speaking about Musk’s latest move, Davison said,

“It would not be surprising—given the focus on the chief executive’s tweets, bitcoin pricing and recent dramatic market moves—for the SEC to ask questions about the facts and circumstances here.”

Bitcoin has time and again proved to be an extremely volatile asset. The price of the king coin has been affected by multiple aspects. Tesla, recently incorporating BTC into its system as a payment method and the procurement of $1.5 billion worth of BTC led to a surge in the price of BTC. The most recent swell in BTC’s price to a high of almost $48K was substantial proof of how Musk could spruce up the price of Bitcoin.

Davison wasn’t the only one to observe this. Victor Constâncio, the former Vice President of the European Central Bank [ECB] also mirrored the lawyer’s thoughts. In an array of tweets, the former VP of ECB said,

He further added,

“It was not disclosed when Tesla had made this investment. In December, Musk said that Tesla could buy bitcoin, and this was followed by many statements that he supported bitcoin. Bitcoin kept going up & Tesla investment has appreciated. The SEC will look into this 5/”

Musk had also embraced the term “Bitcoin” by adding it to his Twitter bio, which created quite an uproar in the crypto community. However, the uproar, as well as the bio, lasted for a very brief period.

Dogecoin [DOGE] Trading Volume Sees Astonishing Figures

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Dogecoin [DOGE] has seen an impressive run this season. It was up by an astonishing 130% over the last weekly and was currently breezing through its recent record of $0.0792.

Thanks to several prominent figures like rapper Snoop Dogg, the former Kiss frontman, Gene Simmons who have demonstrated support for the Shiba-Inu featuring meme-coin, people are now investing heavily and declaring themselves fans on Twitter. But that’s not it.

But it was not until Tesla Chief’s series of tweets that sparked off a massive bullish spree for Dogecoin.

When Elon Musk Speaks, the world listens.

Dogecoin’s Price Madness

The seven-year-old coin is now the fourth-largest with respect to the 24-hours trading volume which was found to be at $9.942 billion.

Dogecoin had previously replaced several altcoins such as Bitcoin Cash [BCH] to climb to the 8th spot by market cap in the cryptocurrency ladder, a position that the token had failed to maintain following which it dropped to the 10th position.

Despite the slip, Dogecoin’s market value has more than doubled over the past week alone.

What further catalyzed Dogecoin was Musk’s yet another tongue-in-cheek tweet, saying “Who let the DOGE out” amid the rally. What started out as a joke coin back in 2013 was now riding a wave of game-changing popularity on social media, driven by the speculative frenzy of retail investors.

Dogecoin has the internet abuzz. However, many were quick to notice how Musk “shilled” DOGE for weeks but his company Tesla ended up buying a whopping $1.5 billion worth of Bitcoin. many pointed out that Musk successfully distracted the community with DOGE while secretly taking a gigantic bite of Bitcoin

This is what Coin Center’s Neeraj Agarwal had to say about the entire episode,

“My theory is Elon is very addicted to tweeting but knew he would get in trouble for posting about bitcoin too much before the 10-K. So he channeled his desire to post about bitcoin into posting about dogecoin.”

Despite all the theories by several industry experts and community members, Doge is now worth more than Western Union, Under Armour, and Xerox Holdings as investors continue to pour money.

Musk-Effect: Bitcoin [BTC] Blasts Off As Price Nears $50K

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Bitcoin’s [BTC] frenzy has kicked in yet again, this time leading to another powerful surge close to $50,000. It was not just an ordinary industry-induced rally. The latest bullish price action was accompanied by a massive endorsement by none other than Tesla CEO, Elon Musk.

BTC 1

So what’s the news?

Tesla just announced in a US Securities and Exchange Commission [SEC] Form that the car-maker not only purchased $1.5 billion worth of Bitcoin but was also planning to incorporate Bitcoin and other cryptocurrencies into their payment mode.

However, for most of February, it was Dogecoin [DOGE] that gained much traction after a series of tweets where Tesla and SpaceX exec. But his bets on Bitcoin was no less game-changing.

The tech giant first publicly announced support for BTC was on the 29th of January this year when he said that Bitcoin’s growth “was inevitable” shortly after changing his bio on the micro-blogging site to ‘Bitcoin’.

The FOMO has not just bolstered BTC to successfully breach its all-time high but has also induced the entire crypto market to go on a wild ride to levels never seen before.

Hence, this might be the most important bull market in BTC’s lifetime. Even as the crypto-asset dipped last month, the investor sentiment had stayed positive throughout the week which prompted the price to recover and trend higher.

One of the most important development was the fact that MicroStrategy continued its goal of pushing crypto to institutions as it hosted its first-ever Bitcoin for Corporations event last week. Thus paving the way for a new set of investors to enter the cryptocurrency industry.

BTC Tweet Volume

According to the data compiled by ‘The Tie‘, Bitcoin’s tweet volume hit a new all-time high with over 143K tweets sent over the last 24 hours, alone. The previous all-time highs were on the 2nd of January 2020 and the 22nd of December 2017.

The Tie

Glassnode Co-founder had recently revealed that the supply of Bitcoin on cryptocurrency exchanges has dropped to levels last seen back in January 2018 right at the peak Since then another 1.8 million BTC have entered circulation, all of which have gone to strong hands accumulating.

Bitcoin Bags Elon Musk As Its Latest Supporter; Better Late Than Never

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The crypto-verse, especially Bitcoin [BTC] was on a major roller coaster ride. The crypto market proved to be immensely volatile. This, however, did not stop the endorsements or investments. Several mainstream companies poured into the industry. The immaculate price change of BTC even got SpaceX’s CEO, Elon Musk more invested in the industry.

Bitcoin Eyes Broad Acceptance

Elon Musk has time and again asserted his support for the crypto industry. Previously, Musk had revealed that Dogecoin [DOGE] was his favorite cryptocurrency. Things seemed to have changed as Musk recently went on to change his Twitter bio to “#bitcoin”. This wasn’t all, Forbes recently reported that the king coin wasn’t very far off from being widely accepted.

In an interview on the Clubhouse application, Musk revealed his stance on BTC as well as other cryptocurrencies. He stated,

“I do at this point think bitcoin is a good thing. […] “I am a supporter of bitcoin. I am late to the party but a supporter. I think BTC is on the verge of getting broad acceptance by conventional finance people.”

Furthermore, Musk stressed the fact that he did not have a strong opinion on other cryptocurrencies.

Previously, Musk has been the reason behind the pump of coins like DOGE. Therefore, he added, “I have to be careful what I say, it can affect the market”. However, the latest addition of BTC to his Twitter price had urged the price of BTC to move past $35K. While this didn’t persist, Bitcoin was back at $34,898 during the time of writing. As almost all the other assets were on a surge, BTC was bagging dainty gains. Despite this, BTC was on top with a market cap of $646.4 billion.

Elon Musk’s latest remarks sparked up an array of tweets. From Tyler Winklevoss to Sawyer Merritt, an array of people acknowledged Musk’s latest comment on Bitcoin. One such tweet read,

Game Of Thrones Fame Maisie Williams Seeks Advice On Bitcoin From Netizens

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The crypto market has attracted an array of celebrities over the years. Game Of Thrones fame, Maisie Williams is the latest to probe the potentials of Bitcoin. Williams almost instantly secured a place under the crypto spotlight as the community urged her to capitalize on her interest in crypto. Prominent crypto influencers were also seen promoting their platforms on Williams’ comment section.

Game Of Thrones’ Arya Stark’s Latest Interest In Bitcoin

Earlier today, prominent English actress, Maisie Williams shared a tweet revealing that she might consider jumping on to the crypto bandwagon. The actress posted a poll and asked her 2.7 million followers if it was wise for her to “go long on Bitcoin”. While the poll is yet to be concluded the progress of the poll seems to be rather disappointing to the crypto community.

Members of the crypto-verse seemed to have been urging her to go long on Bitcoin, the naysayers were seen taking over here.

Game Of Thrones

About 749,290 Twitter users had revealed their stance on Williams’ poll. While 47.9% were asking Game Of Thrones’ Arya Stark to go long on Bitcoin, 52.1% of the lot were asking her to refrain from doing so. Williams’ comment section was flooded with opinions, endorsements, and appeals. Elon Musk, Barry Silbert, Riccardo Spagni, Mike Novogratz, Justin Sun, and several others were seen flooding Williams’ comment section. However, Elon Musk’s tweet was what caught the eye of many.

The founder of Telsa went on to confuse Game of Thrones with another popular series, The Witcher, and tweeted, “Toss a bitcoin to ur Witcher”. Williams’ did not hold back as she went on to ask Musk how Blue Origin was going. Blue Origin founded by Jeff Bezos, the CEO of Amazon is one of the rivals of Musk’s SpaceX.

Additionally, this entire episode left the crypto community reminiscing J.K. Rowling’s encounter with the crypto industry.

Bitcoin seems to have caught the attention of many after the king coin reached a new peak in nearly two years. During the time of writing, BTC was trading at $16,708.09 with a 3.01% surge over the last 24-hours. Several from the community continues to speculate that the king coin might soon breach its all-time high of $20K.

Vitalik Buterin Wary of Upcoming Brain Implants as Neuralink Gets Ready for Friday Demo

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The modern age has pulled all stops when it comes to technological advancements with cryptocurrencies just forming the tip of the iceberg. However, as technology moves ahead at a rapid pace, some tech evangelists have asked people to be more mindful of the changes.

As we approach the much-awaited demonstration of Elon Musk’s Neauralik, Ethereum co-founder Vitalik Buterin has put forth his own comments and suggestions on the topic. The 26- year old programming prodigy gave his two cents on why genetic modifications to the brain would be a bad idea in the long run. 

Musk and his Neuralink organization are touted to showcase the first workings of the model on Friday with many claiming how it would revolutionize the way we consume content. The Neuralink device works by embedding a device in a person’s body which in turn will act as the controller when any action is required to be taken. This interlink between a device and the human brain was seen as a disturbing attribute by Buterin, who sided more with genetic enhancements.

The Ethereum co-founder’s tweet read:

“Am I the only one who finds genetic enhancement of humans *much more palatable* than brain implants? Genes are hard to target; there’s no ‘gene for obedience to the communist party.’ But mixing brains and centralized digital tech risks eroding our strongest domain of privacy.”

Buterin’sn discussion also veered into how people can be controlled using devices such as the Neuralink. He also made the connection that there were also some flaws with gene therapy, pointing out some genes that are directly connected to obedience. He claimed that people with such genes are just as vulnerable to becoming obedient to cults that “the government hates’.

Some people even enquired if there existed devices that would make people obey the communist party. To this Buterin replied:

“No but I’m sure the brain implants that people will come up with by default could be easily backdoored to surveil people’s moods even about specific topics and so forth.”

The extent of Neuralink’s abilities is not yet confirmed but sources say that the live demo will show its brain machine interface while providing details about the state of human trials. Fans and critics alike will have to wait and watch how Musk plans to unfold his latest masterpiece and if it will bring positive changes to the world of technology.

 

Bitcoin: Jeff Bezos, Elon Musk, Joe Biden; No one survived the recent BTC hack!

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Bitcoin scams and hacks have been extremely common over the last few years, but the recent conundrum on Twitter may have been the most memorable one in recent years.

Surrounding a cryptocurrency scam, an unidentified hacker found his way into several high-profile Twitter accounts and asked for BTC donations on social media platforms.

From Apple to Uber, from Kanye West to Barack Obama, everyone’s profile was intertwined, and a common tweet shared across everyone’s handle echoed a BTC donations message.

“I am giving back to the community. All Bitcoin sent to the address below will be sent back doubled! If you send $1000, I will send back $2000. Only doing this for 30 minutes.”

BTC donation
Source: Instagram

Following the incredible mess, Twitter CEO Jack Dorsey made an online statement stating the organization’s regrets about the situation. The CEO said the company felt “terrible this happened.”

Dmitry Alperovitch, the co-founder of Crowd Strike, informed media outlets that the above-mentioned hack could possibly be the “worst witness” on a major social media platform in history.

Hacker possibly made $120,000 in Bitcoins; unconfirmed

Although unconfirmed, Business Insider suggested that data from available blockchain records suggested that a hacker might make up close to $120,000 over the short scam period.

The hack was identified within hours, but hundreds of people took the bait on the platform and one particular wallet address reported receiving more than 350 transactions.

Ironically, the functionality of Bitcoin may make it difficult to properly identify the exact amount that the hack was able to collect during the scam.

Tron’s Justin Sun announces $1 million bounty following hack

The attention received by the scam was widespread and crypto proponents were taking centre stage as well. Justin Sun, Founder of TRON, released a bounty of $1 million for the capture of the hacker as he revealed that his team was working closely with Twitter on the issue. He informed outlets,

“We are working closely with Twitter to resolve this issue immediately and return our accounts to normal. We are always vigilant in handling our accounts; operating safely and responsibly — taking the security of our accounts to the highest standards possible. This only further illuminates the urgent need for our society to adopt decentralized, trustless software, and services.”

Fake SpaceX YouTube Channel Dupes $150K in Bitcoin from Unsuspecting Victims

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Cryptocurrency scammers have managed to dupe unsuspecting victims of $150,000 using the oldskool “free giveaway ” strategy. The fake SpaceX YouTube channel, which copied the YouTube account of Elon Musk’s Space Exploration Technologies Corporation, managed to steal at least $150,000 by hosting free live BTC giveaways.

Bleeping Computers’ report recently claimed that hackers attacked a number of recognized YouTube accounts and compromised their branding and content to imitate that of a space exploration corporation.

BTC giveaways scam and fake SpaceX YouTube Channel

The fake SpaceX YouTube channel then broadcasts archived Elon Musk videos as if they were live footage and asks viewers to transfer BTC to receive double the amount they send. According to the report, more than 80,000 viewers have watched a fake live event; 15.31 bitcoins have been stolen since June 8.

The scammers had two BTC addresses where victims were asked to transfer their funds. One of the addresses received 29 different transactions for a total of 4.08 bitcoins worth $39,840 over time. The second address had a total of 84 separate transactions of 11.23 bitcoins worth approximately $110,000.

The Chief of SpaceX, Elon Musk, is familiar with the scenarios in which his name is used.

Cryptocurrency scams on the rise 

Scammers have been adopting a strategy of imitating famous people for a long time now. Notably, crypto-related scammers have even impersonated members of the British royal family to achieve their evil aims.

In addition, many scammers have benefited from the spread of coronavirus to peddle their evil schemes. In particular, fraudsters imitated charities of the World Health Organization (WHO) and sent thousands of phishing emails to people around the world.

Crypto Twitter Community Loves Elon Musk’s Attempt to Explain Bitcoin to JK Rowlings

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British author of the popular Harry Potter series of novels, J.K. Rowlings asked for an explanation of Bitcoin on Twitter. Despite the attempts by the crypto Twitter community to educate the author on Bitcoin through memes, links and other materials, she was still not convinced. To much delight, the CEO of Tesla, Elon Musk joined the conversation, principally agreeing with the author that it is difficult to understand Bitcoin.

After starting global waves over the name of his son, Tesla CEO Elon Musk has created sparks again on the internet after his attempt to explain Bitcoin to J.K. Rowlings. Immediately after Rowling’s tweet, the crypto Twitter community flooded the thread offering their insights to the renowned author and her 14.6 million followers.

Ethereum founder joins Crypto Twitter community

Among the respondents to Rowling’s tweet was Ethereum co-founder Vitalik Buterin. According to Buterin, Bitcoin is:  

“Basically global digital payments, plus the store of value properties of gold, all with 21st century cryptographic tech to keep the whole thing running safely.”

Additionally, Gemini which is owned by the Winklevoss brothers also responded to the author’s tweet. The New-York based crypto exchange noted that unlike the popular sentiment, BTC is not ‘magic money’. As the discussions heated up, with popular figures in the cryptocurrency industry offering to help, Tron’s Justin Sun offered to send 1BTC to Rowlings. He tweeted: 

 “I can send you 1 bitcoin. Seeing is believing … Just imagine a magic coin (bitcoin) Dumbledore doesn’t understand (like Warren Buffett) but Harry Potter is fascinated about it.”

Nevertheless, despite the multiple attempts to explain Bitcoin to Rowlings, she admitted that she is still confused and even gave up hope of ever understanding the most popular digital currency: “God bless every single one of you now earnestly explaining bitcoin to me as though I’ll grasp it if you break it down properly. Things like this are white noise to me,” Rowling admitted. “I cannot and will not ever understand Bitcoin, but I love you for thinking that I can or will.”

Still confused? Steps up Tesla CEO Elon Musk

Among the respondents attempting to explain the concept of Bitcoin to the Harry Potter Author was Tesla CEO and SpaceX founder Elon Musk. Musk responded: “Massive currency issuance by govt central banks is making Bitcoin Internet money look solid by comparison.” He added, “I still only own 0.25 bitcoins btw.” 

The SpaceX founder who condemned the United States government’s stimulus relief plans the other day has come under siege off late; following his comment that the price of the Tesla stock was “too high,” which instantly sent the price down.

James Bond, Elon Musk Some of the Few Names Being Used to Lure Users Into Cryptocurrency Scams

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The impact of the cryptocurrency market has been substantial and many regulators have tried their best to curb its impact. In addition to attacks on the cryptocurrency industry, scammers have also been accused of running fraudulent YouTube ads.

Reports revealed that some poor actors in the cryptosphere were advertising adverts on YouTube featuring Elon Musk and Daniel Craig’s bogus endorsements.

The ads featured the scammers in their phony cryptocurrency schemes offering big returns on investment. The frauds have used fake quotes from Musk and Daniel Craig to boost their product to the next level.

This was not the first time that such measures were taken as false advertisements have also appeared on MSN, Yahoo and Facebook earlier. YouTube has still not commented on whether the scammers will be curbed soon.

Social media giants such as Facebook had said that it was setting up a $4 million anti-scam unit after several researchers pointed out the chinks in the armor.

The combined losses due to these scammers on websites such as AOL, MSN, and Facebook was around $260,000.This was one of the reasons why financial journalist Martin Lewis took suit on Facebook over fake ads and promotions.

The current pariah was ads that used Craig’s and Bond’s pictures to promote ‘Blitz News’. No one really knows what the ad wanted to convey but its caption was “Bond Franchise Comes To An End.”

It is pretty clear that the creator of the ad wanted users to click on it by looking at the tantalizing buzz headline. Once a user clicks on the ad, they are redirected to a page unrelated to Bond but definitely related to the digital asset world.

A user revealed that the first click leads to a fake article titled “Special Report: Brits are listening to 007’s Daniel Craig and they are raking in millions from home.” The ad is just a new twist on an old scam that talks about how people can become rich overnight by following a “few simple steps”.

In the latest article, it was said that users will be provided with a wealth loophole that will transform their lives.

People who end up on their page are lured into thinking that the cryptocurrency project “Bitcoin Era” was supported by people like Richard Branson, Elon Musk and Bill Gates.

The project also made lofty claims such as the creation of a trading bot that promises big returns. This tactic has been utilized by multiple scams in the past as well and it is surprising that people still fall for these scams.

According to the scam website:

“These tech geniuses have built multi-billion companies on solving complex issues like online payments, computing, and transportation. Now, they’re tackling the global problem of wealth inequality by letting anyone — no matter how rich or poor they are — make enough money to enjoy a happy and fulfilling life.”

Elon Musk‘s name, on the other hand, has been used by scams for a long time now. The Tesla CEO himself had called out these fraudsters and scam bots on Twitter, urging crypto proponents to remain vigilant.

At the moment, there have been no moves from either Musk or Craig but sources have revealed that the advertisements have been removed from the linked websites.