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Elon Musk’s New Move to Prosecute Scammers Pushes Crypto Spam Bots to Go into Hiding

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The crypto community is reporting a sharp decline in the number of bots responding to their posts following Elon Musk’s most recent attack on crypto spam bots on Twitter.

The CEO of Twitter hinted that “bots are in for a surprise tomorrow” in a post on December 11. Later, the CEO added that the platform will be blocking the IP addresses of “known bad actors” after identifying a small group of individuals responsible for a large number of bot/troll accounts.

Elon Musk guarantees to shut down the scammers

He continued by saying that even though con artists might use other strategies to get around the IP address block, Twitter will “shut them down as soon as they show up.”

Dogecoin co-creator Billy Markus’ pseudonym Shibetoshi Nakamoto wrote to Musk on December 11: “I made a test post and instead of seeing 50 bot replies I only saw one much progress, very hype.”

Other users went to test Elon Musk’s most recent adjustments. An investor and bitcoin analyst named PlanB published a chart to track the number of automated responses. As of the time of writing, no comments from bots had appeared.

While Twitter “seems to be marginally better to use lately,” Ethereum co-founder Vitalik Buterin added, he couldn’t tell if there had been a decrease in bots because of Musk. Some claim that the bot responses still appear on posts, but the platform quickly deletes them.

After taking over as CEO of Twitter in October, Musk saw the elimination of Twitter spam and scam bots as one of his top priorities.

Musk also made a passing mention in his most recent post that the company plans to sue Twitter scammers in the future, but he provided no further information.

MicroStrategy founder Micahel Saylor responded to Musk, questioning what percentage of toxic behavior on Twitter is driven by bots rather than healthy people. Elon Musk responded:

That’s my guess: small number of humans with large bot/troll armies. We are shutting down IP addresses of known bad actors today. Should have been done long ago.

Dogecoin (DOGE) On The Rise As Elon Musk Announces To Make An Alternative Phone

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Despite the recent uncertainties caused by the FTX fiasco, DogeCoin (DOGE) price has been stable over the past few days – with its value surging significantly by about 10% for the past day. 

One of many major causes for this is Elon Musk’s recent announcement that he would make an alternative phone if twitter were to be removed from both iPhone and Android app stores.

Liz Wheeler, a podcaster, tweeted her concern that Twitter may be subject to a play store ban due to Elon’s new policy, to which Musk responded that “I certainly hope it does not come to that,” but if it happens, he will “make an alternative phone.”

Wheeler said:

If Apple & Google boot Twitter from their app stores, Elon Musk should produce his own smartphone. Half the country would happily ditch the biased, snooping iPhone & Android. The man builds rockets to Mars, a silly little smartphone should be easy, right?

Meanwhile, the Economic Times reported that Twitter Inc.’s new Verified services would go live next Friday, according to Elon Musk, following a string of delays and issues related to fraudulent accounts.

To prevent a growing issue of people mimicking well-known brands, Twitter has already stopped the $8 subscription program. Twitter Verified is Musk’s attempt to separate distinct user groups and generate much-needed income.

The report stated that in order to prevent companies against accounts with blue check marks from altering their identity and image to that of a brand, companies will now receive a gold check mark.

Dogecoin (DOGE) Price Surge 

The market has been slowed by the FTX debacle and other prominent investors, but Elon Musk and his favorite cryptocurrency Dogecoin (DOGE), are not lagging behind.

According to CoinMarketcap’s data, the token is currently trading at $0.09186, with almost an 11% increase in the previous seven days. The token market cap has risen by approximately 4.00% during the past day, while its trading volume has increased by about 35%.

Dogecoin DOGE rebounded to $0.090 from the $0.077 support level of November 21st, signaling that the bulls are attempting to create a new higher above this price. However, at $0.090, where the relief rally is now, the bulls are confronted with strong bear opposition.

Source: Tradingview.com

Since the end of November, the strength of purchasers has significantly increased for Dogecoin. The apparent breakthrough above a short-term barrier suggests that this trend may continue.

On Tuesday, November 25th, the Dogecoin price pushed past its previous high to $0.0861 after more than two weeks of attempted breakouts on November 24th, when there was a spike in trading volume that may signal renewed buying pressure.

Nevertheless, for Dogecoin’s price to rise significantly, it must break through and hold above $0.095. The price may finally drop below $0.070 in the event of a bearish reversal, where it may experience several rejections.

Related Reading | Shiba Inu Burn Rate Rises: Battles To Win Back Confidence After FTX Crash

Binance’s CZ Comes as Support for Elon Musk Amidst the Twitter Employee Chaos

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Friday, amid a trend on Twitter that reads “RIP Twitter,” Binance CEO Changpeng Zao (CZ) spoke out in aid of Elon Musk, the CEO of Twitter. After the recent ultimatum by the Twitter CEO to choose between working intense, incredibly hard-core, long hours or losing their jobs, the trend #RIPTwitter exploded onto the scene.

CZ stated that the more successful you are, the more people FUD about you. He also added that it makes you stronger and not weaker.

CZ shows his support for Elon Musk

illy Markus, the creator of Doge, pokes fun at Twitter in a post titled “RIP Twitter,” comparing its demise to that of Google Plus. In a recent tweet thread, Markus also makes fun of Twitter employees, claiming that they intend to leave with their money rather than work long hours to save a “dying company” (Twitter).

Following an order from the new owner Elon Musk, hundreds of Twitter employees left the company, flooding Twitter with heartfelt messages. The hashtag #RIPTwitter started to trend on Twitter as users questioned whether the service would be discontinued.

Others shared memes of gravestones with the epitaph “Mr. Musk killed the service,” while some users made light of the fact that there was only one employee left. Some users claimed to have switched to other social media platforms.

On Wednesday, Mr. Musk gave the remaining Twitter employees less than 36 hours to resign or pledge to work on “a breakthrough Twitter 2.0.” He said those leaving would receive a three-month severance package.

According to the NY Times, four people with knowledge of the discussions said that Mr. Musk and his advisers met with some Twitter employees they considered “critical” in order to prevent them from leaving. He seemed to soften his standpoint on not letting people work from home before alerting their managers, sending conflicting messages about the company’s remote work policy.

Ever since Twitter was taken over by Elon Musk, he has been working on implementing changes to make it a better place. Musk is known for his workaholic nature and is very committed to his work despite of being the wealthiest person.

Cardano: DOGE Co-Founder’s Peace Offering To Charles Hoskinson

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After a Twitter spat with Cardano’s Charles Hoskinson, Dogecoin co-founder Bily Markus extended an “olive branch” apologizing for being overtly hostile and stirring up unnecessary tensions.

“I do have respect for all those who are contributing to making crypto more useful and scale better I was overly hostile unnecessarily, and want to apologize, and hope you and ADA are successful”.

The founder of Cardano tweeted in response, “We got this,” thanking Markus for the peace proposal and expressing regret for similar comments in the past.

Crypto netizens were swooning over the friendly gesture with one commenting, “This is the first time I’ve seen an exchange like this on Twitter. If we all worked together, the crypto industry would be very formidable”.

“Building friendships in the bear market is like free hugs post-BTC halving” tweeted another.

Just the other day, the Cardano and IOHK head proposed his vision for a decentralized Twitter in a video addressed to Elon Musk. The Tesla and SpaceX CEO recently took control of the social media platform after a chaotic legal battle.

Musk who is also a DOGE proponent has on many occasions expressed his intention of making DOGE the official token for Twitter.

Cardano Vs Dogecoin; The Twitter Spat Where It All Began

Hoskinson in his 59 min long video pitched ideas for a joint collaboration between the two ecosystems and ways to increase incentives for both ADA and DOGE mining pools.

However, the lukewarm response from the DOGE community members and the subsequent removal of his video by the moderators on the Dogecoin Reddit, along with Markus’ angry response resulted in a verbal exchange between the two founders.

The co-creator of Doge tweeted that Elon Musk doesn’t really care about Hoskinson’s “dumbass rant” on DOGE and referred to his video as “hypocritical whining and misinformation” when the latter complained that the video had been removed.

Markus also criticized the price performance of the ADA coin, claiming that the drop in 2018 didn’t prompt “regulators to jump in.”

Hoskinson defended by saying that ADA has actual use and utility unlike a meme coin and stressed that his proposal wouldn’t change doge but instead use it as an airdrop target and isolate Twitter’s needs from the existing chain.

Cardano Founder Proposes His Version Of A Decentralized Twitter To Elon Musk

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Cardano’s Charles Hoskinson has outlined his vision for a decentralized Twitter to the current new head Elon Musk. In a video addressed to the Tesla billionaire, Hoskinson spoke on the mutual opportunities of growth and how the platform’s algorithm has wreck havoc on users’ minds which he claimed needed to change.

According to the founder, Twitter has emphasized growing its user base more than implementing security measures like adequate account verifications [which can tell the difference between a bot and a human or the correct credentials in a user’s profile].

He brought attention to the Atala PRISM, a decentralized identity management system built on the Cardano blockchain.

As per the website, it is a novel identity management strategy where users can own their identities and have total control over how their personal data is used and accessed.

The project is set to be deployed in the first quarter of 2023 on mainnet which will also have cross-chain functionalities.

Hoskinson suggested “redefining” the Tweet space with “nuanced tools,” such as converting the tweets into NFTs to include a reputation score and creating prediction markets where the inclusion of veracity bond will act as a deterrent against false and misleading information, enabling better information flow on the platform.

“Now suddenly the tweet space looks different. You have nuanced tools that are extensible to curate the info. You have economic agencies behind the info….people sharing these tweets have their reputation tied.”

Cardano Founder Spoke On DOGE And ADA

He however admitted that “curation” of information at such a scale is not an easy task. The IOHK head also cited several crypto platforms that are working towards a similar goal.

One such is the Basic Attention Token [BAT], a blockchain-based system for monitoring media consumers’ time and attention on websites using the Brave web browser.

Where is DOGE in the equation?

Hoskinson proposed creating a sidechain with “super fast BFT protocol” and DOGE acting as advertising, marketing, and a veracity token.

According to him, the biggest hurdle to decentralized Twitter is its algorithm which he maintained is optimized only to make money and spew hatred among users.

He also suggested a collaboration in which ADA and Doge may gain from one another. “Doge can provide all amazing things being the currency of the social networking site. In turn, Cardano can provide security, decentralization, infrastructure, and an ecosystem.”

Dogecoin Slumps as Elon Musk-Twitter Deal Concludes

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Dogecoin slumps after Elon Musk-Twitter deal finalize. Elon Musk, the CEO of Tesla, has reportedly signed a $44 billion deal to take over Twitter, according to a report from CNBC.

The departure of Twitter’s CEO Parag Agarwal and chief financial officer Ned Segal was also announced by CNBC reporter David Faber in a tweet. The executives “will not be returning,” according to Faber.

The news follows Musk’s tweet on Thursday in which he explained why he was buying the social media site.

Faber, on the other hand, predicts that Musk will fire some employees, perhaps as many as “three-quarters of the staff.” Faber thinks that Musk might be acting as the interim CEO of the microblogging service given that the 51-year-old billionaire changed the description of his Twitter account to “Chief Twit.”

Dogecoin falls as Twitter acquisition deal concludes

Dogecoin which surged over 35% from Monday in anticipation of the Elon-Twitter deal, plunges post the deal. It ends up being a sell-the-news event.

At the time of writing, DOGE fell by 5.75% in the last 24 hours. DOGE is currently trading at $0.07473. It touched a high of 0.08483 before falling to this price.

It’s unclear exactly when or why Elon Musk fell in love with dogecoin. The billionaire CEO of Tesla and SpaceX has been promoting the token for years.

Dogecoin has frequently reached new record-high prices as a result of Musk’s tweets, which occasionally make oblique references to it. Additionally, these posts have promoted interest among retail investors.

Musk is not the only famous person endorsing the animal-branded token, though. Snoop Dogg, Kiss bassist Gene Simmons, and Dallas Mavericks owner Mark Cuban have all previously publicly backed dogecoin.

The comedic cryptocurrency was introduced in 2013 by software developers Billy Markus and Jackson Palmer as a way to mock bitcoin and the numerous other cryptocurrencies boasting ambitious plans to take over the world.

There are currently very few applications for the token. Even though more businesses started taking dogecoin last year, it still hasn’t reached the level of acceptance required to be used as a true currency substitute.

Due to these restrictions, the rise in the value of dogecoin seems to be entirely speculative. Dogecoin is valuable because others think it is valuable.

Elon Musk To Take Over As Twitter CEO? Binance Confirmed As Investor

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The world’s richest man and CEO of Tesla (TSLA), Elon Musk, has finally finalized a deal to acquire Twitter (TWTR), according to sources cited by CNBC. By this Friday at 5:00 p.m. ET, a previously postponed lawsuit initiated by Twitter against Musk to proceed with the acquisition would have begun, making that time the agreement’s deadline for completion.

The acquisition, which was first disclosed in April, encountered numerous obstacles along the way, including Musk’s worries about the volume of spam bots on Twitter and Twitter’s adoption of a poison pill at one point to thwart the purchase.

But early this month, according to a letter from Elon Musk’s lawyers to Twitter’s lawyers that were also submitted to the SEC, Elon Musk suggested pushing forward with the deal once more at the initially agreed-upon price of $44 billion, or $54.20 per share.

At market close, Twitter’s shares were trading at $53.70, while Elon Musk’s preferred cryptocurrency, dogecoin (DOGE), which he has hinted could be used for some Twitter payments, was down 2.3% at 00:43 UTC after climbing 16% in the days leading up to the deal’s closing.

Twitter’s potential cryptocurrency aspirations are yet unknown. While Twitter had included bitcoin tipping in 2021 under the leadership of then-CEO Jack Dorsey and added ether wallets to the feature earlier this year, Musk explained the rationale for Twitter adopting digital payments into its site in a June interview. A new initiative from payment processor Stripe, which in April unveiled a feature permitting payments in USDC via Polygon, was also tested for the first time by Twitter.

Ben Weiss, CEO of Bitcoin ATM company CoinFlip, told local media,

“In the last few years, Elon has been very vocal about his stance on crypto and blockchain. Musk understands Web3 and understands the potential of blockchain technology which will be instrumental in propelling adoption forward.”

CZ Confirms Investment In Elon Musk’s New Throne

Currently, Elon Musk’s acquisition of Twitter has confirmed cryptocurrency exchange operator Binance as an equity stakeholder.  Binance founder and CEO Changpeng Zhao said in a statement,

“We’re excited to be able to help Elon realize a new vision for Twitter. We aim to play a role in bringing social media and web3 together in order to broaden the use and adoption of crypto and blockchain technology.”

Changpeng Zhao, Chief Executive Officer of Binance

Musk reportedly fired Twitter’s senior executives, including CEO Parag Agarwal, after the $44 billion acquisition closed yesterday. According to a recent Bloomberg article, Musk intends to take over as CEO of Twitter and lift the platform’s lifetime account termination policy.

Following a months-long on-again, off-again battle between Musk and Twitter, news of Binance’s investment has surfaced. Binance had promised $500 million in May to invest in Twitter in conjunction with Musk’s acquisition of the social media platform. A representative for Binance told The Block, “Our initial commitment remains the same and we look forward to exploring options to strengthen the cooperation in the future.”

Twitter To Roll Out Crypto Wallet Supporting Deposits & Withdrawals

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Twitter’s own web3-based crypto wallet is currently underway, software frontend developer Jane Manchun Wong shared the update. Although there have been no official confirmations from the social media giant, the wallet, per Wong, is expected to support deposits and withdrawals.

The announcement also found no mention of any token support nor a timeline as to the launch date and relevant details.

Late in 2019, Twitter’s then-CEO and Bitcoin supporter Jack Dorsey announced that his firm had formed a small group of developers who were tasked with creating a decentralized social media protocol that could serve as the foundation of a new standard for online connectivity, free from corporate and governmental influence.

Twitter’s first significant foray into the crypto verse began it explored opportunities to integrate Bitcoin into its existing products and services, including commerce, subscriptions, and other new additions like the Tip Jar and Super Follows.

Dorsey has long been an ardent supporter of the king coin, but the specifics of how it would operate on Twitter’s infrastructure were not yet clear.

However, Dorsey has frequently praised the cryptocurrency in public, claiming that it makes him think of the “early days of the internet” and that he doesn’t have “anything more important” to work on.

Under his leadership, Twitter also collaborated with the online payments company Stripe to let businesses accept cryptocurrency payments from clients.

Twitter’s Web3 Bet And Scuffle With Doge Proponent

The social media behemoth formally introduced its cryptocurrency team in late 2021, saying it would work to become a center of excellence for all things blockchain and web3.

That said, Twitter’s latest initiative highlights its intention to lead the web3 industry. Currently, the micro-blogging site is embroiled in a contentious litigation process with DOGE supporter and Tesla billionaire Elon Musk.

In April, Musk agreed to purchase Twitter for $44 billion per outstanding share before attempting to scuttle the agreement a few weeks later citing concerns over bots on the site before including later claims made by a business whistleblower. In response, Twitter sued him to enforce the deal.

The $44 billion acquisition of the platform by Musk must be completed by 5 p.m. ET on October 28 or he will face a trial that was earlier postponed to enable the transaction to be completed.

Dogecoin’s Hash Rate Soars 7-Month Peak Amidst Elon Musk Twitter Deal

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Dogecoin hit its highest level in seven months as the deadline for DOGE proponent Elon Musk’s Twitter deal approaches. Data from CoinWarz showed that the global hash rate of the blockchain has reached a value of around 815 TeraHashes per second [TH/s].

The time for the deal’s completion is drawing near, according to a recent report from Bloomberg, even though it has been noted that the social media giant is taking steps to get ready for the sale.

Elon Musk recently claimed to have a plan to get rid of them in response to a tweet by American internet personality and Bitcoin investor Dave Portnoy.

“Hey Elon Musk, can you please fix these bots on this piece of sh– the platform you got tricked into buying,” Portnoy tweeted. “I’m getting bot’d to death.”

To which Musk replied, “I have a plan.”

Back in April, the SpaceX CEO announced buying Twitter which he later backtracked alleging that the latter was withholding information about the number of bot accounts present on its platform.

According to the business magnate, more than 20% of Twitter accounts are bots. The microblogging site, however, placed this number under 5%. After the billionaire called off the agreement in July, Twitter filed a lawsuit to force the sale.

As of now, the agreement has been reinstated in exchange for Twitter dropping the lawsuit. Notably, the court has given the billionaire until October 28 to raise the $44 billion agreed upon, so he has just over ten days to complete the transaction.

It is believed that Musk will take action to integrate DOGE on Twitter after making the Twitter acquisition.

Dogecoin In Musk’s “Burnt Hair”

On the price front, Dogecoin is currently trading at roughly $0.059, rising marginally over the last 24 hours at the time of writing, according to CoinMarketCap data. The 10th-ranked coin has a market cap of $7 billion

The multibillionaire CEO, who already accepts the meme coin as payment at his firms Tesla and Boring Company, has frequently reaffirmed his commitment to supporting DOGE.

Musk who also runs the Boring Company announced on 18 Oct. that it would accept Dogecoin payments for its “Burnt Hair” cologne, as reported by TronWeekly.


Binance and Sequoia Capital continue to support Musk’s Twitter takeover

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Over time, Binance has become more and more well-known. The exchange has been operating successfully with millions of consumers worldwide since its launch in 2017. With more than 600 coins available for trading, the exchange has created a reliable platform.

Binance and Sequoia Capital, two of the principal equity investors in Elon Musk’s buyout of Twitter, are still providing funds for the acquisition, according to sources close to both companies.

The purchase currently includes a $800 million commitment from Sequoia Capital. Following Musk’s most recent bid for Twitter, it appears like a deal may be close soon. According to a person familiar with the Sequoia funding situation, the company will not be leaving Elon behind and will continue to support him.

On the other hand, Binance made a contribution of almost $500 million to Musk’s acquisition of the well-known social media site. According to a company representative, the largest cryptocurrency exchange network in the world will continue to pay the transaction.

Elon Musk made a purchase bid for Twitter on October 4 starting at $54.20 per share. At the beginning of the year, Musk first proposed buying Twitter, but in April he changed his mind. CNBC reports indicate that the deal may now close successfully soon. The deal’s formality has not yet been confirmed by either party.

Due to a problem getting $13 billion in debt finance, the proposed takeover of Twitter was apparently having trouble coming to fruition. We don’t know if this problem was solved.

Binance to fly high with crypto air tickets

To establish its footprint in every conceivable field, the exchange has teamed up with a number of businesses. Cryptocurrency has become one of the quickest and least expensive payment options. However, the value of cryptocurrencies for various forms of payment has never been universally accepted.

Binance recently teamed up with Crypto Air Tickets in a cooperation. Users will be able to use Binance Pay to purchase plane tickets thanks to the new cooperation.

Users will be able to book and pay for flights using the cryptocurrency in their wallets thanks to the new relationship. Through their marketplace, consumers will be able to book flights thanks to the agreement. This eliminates the need for any other flight booking apps.

Users of Binance can purchase plane tickets without first converting their cryptocurrency to money. Users can utilize the cryptocurrency in their Binance wallets to quickly and easily book flights to their preferred locations.

In a recent interview, CZ added that the exchange might invest and buy more than $1 billion.