Vivek Ramaswamy's X account was hacked, rumors of DOGE-USUAL cooperation were flying all over the place, and he announced his withdrawal from the 2024 US presidential election

#加密市场回调

Vivek Ramaswamy, co-boss of the Department of Government Efficiency (DOGE), recently had his online account hacked. The hacker entered his X account and sent a fake message saying that DOGE and the stablecoin project USUAL were going to join forces. The message said that the two companies would use digital currency to improve the way the government spends money, which is actually nonsense.

This fake cooperation deceived many people

The post posted by Ramaswamy's account said that DOGE and USUAL might cooperate, and also involved blockchain, saying that it could improve the efficiency of government spending.

What "promoting fiscal responsibility" and "achieving economic stability" sounded like the truth.

But fund manager James Fishback soon discovered something was wrong and said that it was done by hackers and that the announcement was purely a lie.

The fake post also linked the cooperation to Trump's fiscal policy, saying that it could simplify federal spending. It's all nonsense. Scammers just want to defraud cryptocurrency investors.

Scammers love to target big names

This is not the first time that hackers have used big names in the cryptocurrency world to spread fake news. Scammers always send fake announcements to deceive people.

Recently, the scam of memecoin and the Hawk Tuah girl has been a hot topic.

Musk's real DOGE plan

Although the DOGE-USUAL cooperation is fake, Musk's Department of Government Efficiency (DOGE) is really working. They found that 80% of the $100 billion spent on federal IT systems was wasted on outdated technology.

Musk believes that reducing waste can reduce inflation. He has always wanted the government to pass good policies, spend more money, and stabilize the economy.

USUAL stablecoin is very popular

Although the fake posts have caused a lot of trouble, the USUAL stablecoin is really successful. Only four months after its launch, the market value has reached $1 billion, becoming the seventh largest stablecoin.

USUAL's success is due to its strong financial resources. It started as a tokenized money market fund Hashnote

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