Elon Musk, the CEO of Tesla and SpaceX, has once again criticized the US financial authorities, this time for their handling of the recent banking crisis.

In a comment on Bill Ackman’s tweet, Musk expressed his disappointment with the measures taken by the authorities, describing the system of money as an “inefficient” database for allocating resources.

The crisis was triggered by a bank run on the SVB bank, which led to the financial authorities promising a withdrawal guarantee for all deposits, immediately eliminating the statutory $250,000 deposit guarantee limit. However, even with unlimited deposit protection, the bank run did not calm down, prompting the US authorities to issue a prescription for SIBs to deposit their funds in problematic local banks.

Ackman argued that “unrestricted deposit protection is declared or the local bank collapses.” But Musk criticized the system of money as a “set of heterogeneous resource allocation databases” that are inefficient in allocating resources. According to Musk, money is just information, a database that stores various exchange processes necessary for economic activities.

Musk also used the word ‘heterogeneous’ to describe the existing currency and monetary system issued by the central bank, stating that it is not uniform and complex, which distorts the allocation of resources. The result is periodic financial crises, asset bubbles, and collapses.

Musk has been an avid supporter of Dogecoin and has been expected to equip Twitter, which he acquired, with a cryptocurrency-based payment system. In 2021, Musk caused a stir in the cryptocurrency market when he bought Bitcoin with Tesla’s own funds.

In conclusion, Musk’s comments on the inefficiency of the current monetary and financial system are not new. He has always believed that money is just information, and the current system is not efficient in allocating resources. His criticisms of the US financial authorities’ measures against the recent banking crisis highlight the need for a new, more efficient system that can better serve the needs of the economy.

#ElonMusk #Musk #bankruptcy #azcoinnews #crypto2023

This article was republished from azcoinnews.com

Twitter’s sudden change of logo to the Dogecoin symbol has caught the attention of the crypto community. Following this move, the price of Dogecoin (DOGE) immediately shot up by 37%, reaching $0.1 USD. This price increase has drawn attention to a mysterious wallet that once held $24 billion worth of DOGE.

The wallet, named “DH5ya,” was created in 2019 and was reported to have held the massive amount of DOGE until May 2021. In a class-action lawsuit accusing Elon Musk of “market manipulation” of DOGE, the plaintiffs claimed that the new owner of Twitter was behind this wallet.

@azcoinnews

The plaintiffs pointed out several signs that DH5ya belonged to Musk, including a 28.061971 DOGE transaction, corresponding to Musk’s birthday on June 28, 1971, and a transaction spelling out “Hi Elon.” There were also six transactions with 69 DOGE and two transactions with 420 DOGE from this wallet. Additionally, there was an 80085 DOGE transaction, hinting at the word “BOOBS,” a classic Musk joke.

However, Musk denied these allegations and claimed that DH5ya was owned by Robinhood, a company that provides crypto trading services. Musk’s lawyers also requested the court to dismiss the $285 billion compensation lawsuit, stating that Musk’s previous statements were “tongue-in-cheek” and were not intended to manipulate the price.

Robinhood has not yet given an official response to these allegations. However, many people still speculate that Musk used the platform to make trades. The main wallet of Robinhood currently holds 3.3 billion DOGE, equivalent to 24% of the circulating supply, according to Whale Alert data.

Meanwhile, DH5ya’s wallet currently holds around 50,300 DOGE, worth nearly $5,000 USD, according to DogeChain explorer. With 1309 transactions made, the wallet has almost sold all of the DOGE it held.

In conclusion, this mysterious wallet’s ownership is still uncertain, and it remains to be seen whether or not the allegations against Musk will be proven true. The sudden surge in DOGE’s price also highlights the volatile nature of cryptocurrencies and the potential for market manipulation.

#ElonMusk #DOGE #Dogecoin #Musk #azcoinnews

This article was republished from azcoinnews.com

The cryptocurrency market has been making headlines lately, with the total market capitalization exceeding $1 trillion in the first quarter of this year. However, despite this positive trend, one popular cryptocurrency seems to have lagged behind in terms of returns.

According to CoinMarketCap data on March 31st, Dogecoin’s first quarter return was only 8.0%, which is a stark contrast to Bitcoin’s return, which is close to 70%. This performance was somewhat unexpected given the tremendous volatility that Dogecoin has shown in the past.

@azcoinnews

Despite its lackluster performance in the first quarter, Dogecoin still maintains a loyal following. In fact, more than 54% of all Dogecoin holding addresses are currently profitable, and only 41% are losing money.

This suggests that over the past three months, addresses that have stuck with their Dogecoin holdings despite market uncertainty have mostly been rewarded. Additionally, Dogecoin continues to perform well compared to other competing memcoins such as Shibainu (SHIB), which may explain why investors still trust it.

Dogecoin’s lack of substantial gains in the first quarter may raise concerns among some investors, but it’s important to remember that the cryptocurrency market is notoriously volatile. It’s also worth noting that Dogecoin has seen tremendous growth in the past, so it’s possible that it may see similar gains in the future.

In conclusion, while Dogecoin’s first quarter returns may not have been as impressive as Bitcoin’s, it still maintains a loyal following and shows promise for the future. As always, investors should approach the cryptocurrency market with caution and do their own research before making any investment decisions.

#DOGE #Dogecoin #Musk #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

REXBOX

Billionaire Elon Musk, a Dogecoin supporter, has seemingly been on a journey to eliminate bots from the X (formerly Twitter) platform after acquiring it back in 2022 for $54 billion. With multiple measures already put in place still not efficiently reducing the number of bots on the platform, Musk has moved on to a new strategy that involves paying to use X. But does Dogecoin fit into the payment plans?

Elon Musk Wants X Users To Pay To Play

In an interesting turn of events, Elon Musk is considering putting the entire X site behind a paywall. The billionaire revealed this while talking with Israeli Prime Minister Benjamin Netanyahu. According to Musk, he is considering this option as a way to reduce the bot activity on the social media platform.

Musk reasons that if all accounts have to pay a fee to access the platform, it would make it more expensive for the bad actors who create these bots to keep up their activities. And hopefully, higher costs of operations would lead to a decrease in those deploying the bots.

Explaining how the payments would work for each account, the SpaceX CEO said that X would introduce a “lower tier of pricing.” In this case, each account would pay a small fee just to access the platform, which would be separate from the fee users already have to pay to access its X Blue premium service.

He puts forward that given that these bots cost so little to deploy, as little as a fraction of a penny, making each account pay a few dollars to access the platform would increase their operating cost very drastically. Musk also seems to be at the end of his rope with the bot issues, telling the Prime Minister that this is “the only way I can think of to combat vast armies of bots.”

Does Dogecoin Fit Into This Plan?

Ever since Elon Musk took over the X platform, Dogecoin investors have waited with bated breaths to see if he would finally implement DOGE payments on the platform as he has talked about before.

These speculations are further fueled by the fact that Musk has gone on to implement a significant portion of ideas that he had for a social media platform highlighted in his recently released biography.

However, despite remaining a staunch supporter of the meme coin, there has been nothing from Musk to signify if Dogecoin payments are coming to X. But given that DOGE excels at such micro-transactions that would be implemented if X turns into a ‘pay-to-play’ service, it could be a good option for the platform.

source : https://rexbox.online/rexbox-elon-musk-wants-to-deter-x-bots-with-new-pay-service-is-dogecoin-involved/

#Musk #Bots #Pay #Service #Dogecoin  

#GOATMoments Tesla boss Elon Musk, who used to be Twitter’s Chief Executive Officer (CEO) before passing the baton to Linda Yaccarino, is trying to woo Twitter users into subscribing to the Twitter Blue package.

According to Musk, many accounts on the blue-bird app platform can earn thousands of dollars per month in advertising revenue sharing if they become verified subscribers. To subscribe to this package, interested users are required to pay $7 per month in an annual plan.

Many accounts on this platform can earn thousands of dollars per month in advertising revenue sharing if they become verified subscribers!

Takes 2 mins to become a verified subscriber for $7/month (annual plan) at https://t.co/JUTlIcVsSe

— Elon Musk (@elonmusk) July 22, 2023

Elon Musk Introduces Twitter Blue Subscription Fee

Since he acquired Twitter, Musk has implemented a number of changes including some policy adjustments. Twitter Blue tick was initially reserved for journalists, celebrities, brands, government establishments and companies after they have been verified. However, the billionaire started a system where anybody can get the blue tick so long as they can pay for it.

While Android users are required to pay $8 per month, iPhone users are billed to pay $ 11 every month.

The difference in subscription fees is because Apple takes 30 percent revenue from the iOS App. Some of the perks of subscribing to this plan are a blue checkmark after verification, edit tweets option, 1080P video upload, and reader mode. On the other hand, business accounts get a golden official label while government accounts get a grey checkmark.

According to Twitter, “Subscribers will be able to change their handle, display name or profile photo. But if they do, they will temporarily lose the Blue checkmark until their account is reviewed again. It was later shelved after several fake accounts surfaced on the platform, copying brands and celebrities.”

Netizens Migrate to Meta’s Threads

Some of these changes including the recent rate limit on viewed posts have pushed some netizens to migrate to Threads, a newly launched app from Meta Platforms. Threads came with a rush and garnered more than tens of millions of users in less than 3 days of its launch.

#Twitter has expressed some concerns about the launch of #Threads and has been threatening to sue.

A letter sent by Quinn Emanuel, trial lawyers representing X Corp, to Mark Zuckerberg implied that Meta has “engaged in a systematic, willful and unlawful misappropriation of Twitter’s trade secrets and other intellectual property.”

Should this Copyright issues remain unaddressed, #Musk and his lawyers are threatening to go to court.#Binanceturns6

#Binanceturns6 Maverick entrepreneur Elon Musk, known for shaking up industries with memes, is launching a new quest: unfiltered truth in Artificial Intelligence (AI). Musk's latest venture, xAI, is aimed at redefining the AI landscape, prioritizing transparent truth over political correctness in its AI models.

Is this audacious pursuit a noble mission, an effort to create an AI that mimics his mindset, or the catalyst to opening Pandora's box?

The Tesla CEO unpacked his ambitious AI startup in a recent Twitter Spaces conversation last week, promising a company that values the honesty of its AI models over perceived bias. Musk emphasized the need for AI that isn’t afraid to share its "beliefs," even if they venture into "controversial" terrain.

“Do not give the AI usually impossible objectives," he admonished. "Basically, don't force the AI to lie."

This positioning starkly contrasts with other AI companies like OpenAI, which Musk co-founded and which has been repeatedly accused of "dumbing down" its ChatGPT bot to avoid controversial topics and having a left-leaning political bias.

Source: David Rozado / New Zealand Institute of Skills and Technolog

Musk envisions xAI as a robust challenger to AI industry giants like OpenAI and Google.

"Competition in the AI space is valuable to prevent one company from dominating development," Musk said. “Competition makes companies more honest."

xAI's ambition goes beyond the creation of a truth-speaking AI chatbot. Musk pitched a company that seeks to "understand the true nature of the universe," a lofty goal by any standard. He aims to use AI to tackle unresolved scientific questions on topics as diverse as dark matter, dark energy, alien life, and the nature of gravity.

xAI already has access to a rich pool of experts, attracting executives and established researchers from major AI players, including Google and Microsoft and OpenAI.

The goal of a raw, unbiased AI presents the moral question of AI alignment, however, which often requires human oversight to prevent it from causing harm by generating fake output or morally wrong conclusions.

When asked if xAI was his attempt to build a "TruthGPT AI" in response to OpenAI’s ChatGPT and its alleged political bias, Musk said, “I do think there is a significant danger in training AI to be politically correct. Or in other words, training AI basically to not say what it actually thinks is true."

#Elon Musk Predicts 'Catastrophic Outcome' Without AI Regulation

Musk’s vision is compelling but stokes the same debate over the necessity of AI guardrails like those he previously endorsed.

The Tesla chief has been quite vocal about his worries regarding AI developments, recently urging regulation and industry collaboration. However, with AI investment estimated to reach $15.7 trillion by 2030, #Musk is not alone in hoping to capitalize on inflated expectations.

Despite presiding over a variety of controversies, #ElonMusk remains undaunted in charting a new course in AI.

There’s an old adage that goes, "In seeking truth, you have to get both sides of a story." With Musk's xAI, however, it remains to be seen if the AI's "truth" will resonate with our human understanding. After all, one person's truth can be another's propaganda.

While the allure of an uncensored AI is undeniable, we don’t yet know if it will serve as a beacon of enlightenment or if—like Pandora's box—it will unleash a series of unintended consequences.#BinanceTournament

Elon Musk Shapes Twitter, More Surprises Await!

In an unexpected move, Twitter has launched a new feature that allows its Twitter Blue subscribers to hide their blue verification tick, a sign of profile authenticity and prestige. This unique feature, which debuted following a transformative period led by Twitter Chairman Elon Musk, is set to reshape the dynamics of user visibility and reputation on the social media platform.

A New Feature and its Implications

Since its launch in 2009, the blue verification badge has been a crucial tool for identifying public figures, celebrities, brands, news organizations, and politicians. Until #Musk  took over and launched Twitter Blue, users could enjoy the benefits of verification for free.

As part of Twitter Blue's benefits, users have the option to hide their blue checkmark, effectively concealing their verification status on their profiles and posts. While there are limitations to this feature, such as its visibility in certain instances, Twitter is committed to refining the feature over time.

The new feature allows for more freedom and control over how Twitter users present themselves on the platform. However, it has sparked a debate over the potential dilution of the "blue tick's" value, traditionally seen as a mark of authenticity and respect. The Twitter community is still grappling with these changes, and the landscape of public and verified figures on the platform is set to evolve in unprecedented ways.

Logo Changes and the Road Ahead

Meanwhile, another significant change has occurred in the #Twitter's universe. The company recently replaced its iconic bird logo with the letter "X", another move initiated by Musk. Despite the initial shock from users, the change was intended to be temporary, according to the billionaire entrepreneur.

The replacement of the bird emblem signals a potential move away from the traditional Twitter brand. With Musk hinting at future logo changes, it's clear that the social media giant is on a transformative path. This metamorphosis has seemingly paid off, with Musk stating that the site's monthly user base reached new heights following these organizational changes.

Twitter's venture into paid verification and its decision to allow users to hide their blue tick is a bold step into a new era for the platform. This change may lead to a democratization of the 'blue tick', challenging the traditional hierarchy and exclusivity associated with the verification system. On the other hand, it could also potentially dilute the respect and reputation associated with the blue checkmark.

The bird logo's replacement symbolizes the company's willingness to change and adapt, a crucial quality in an industry where stagnation can lead to irrelevance. While these changes may be uncomfortable for some, they're a necessary part of Twitter's growth and evolution.

Ultimately, the success of these changes will depend on how well Twitter navigates the fine line between innovation and the preservation of user trust and satisfaction. Twitter has embarked on a journey of transformation, and the world is watching closely to see what's next.

Throughout the fourth quarter of 2023, Tesla, under the leadership of Elon #Musk maintained its #Bitcoin holdings without any changes. According to the company's recent earnings report, released on Wednesday, the value of their Bitcoins (BTC) is around 387 million dollars.
The quarterly report indicates that #Tesla did not make any purchases or sales of Bitcoins from July to September, suggesting a stable stance towards this cryptocurrency. Currently, Tesla owns over 9,720 BTC, ranking it third among public holders of Bitcoins, just behind the software company MicroStrategy (MSTR) and the mining company Marathon (MARA).
Tesla first entered the world of cryptocurrencies in February 2021, when it invested 1.5 billion dollars in Bitcoins, amassing about 43,000 BTC. At the same time, the company announced that it would start accepting Bitcoins as payment for its products.
However, over the course of the year, Tesla gradually began selling its Bitcoin shares. This move was motivated by a desire to increase its cash reserve during the uncertainties associated with the COVID-19 pandemic. In the second quarter of 2022, the company announced the sale of 75% of its Bitcoin assets. This decision reflected a strategy to adapt to changing economic and health condition
$BTC
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The excitement and enthusiasm in the crypto world continue as Bitcoin holds steadily at a price of $34,274, marking a growth of 0.75% on this Monday.
Besides the price movement, the crypto community is also encouraged by an enthusiastic tweet from Elon #Musk himself.
While the pro-Bitcoin stance of Nayib Bukele, the President of El Salvador, is making headlines, it is Musk’s tweet that has gained admiration in the crypto world and boosted enthusiasm.
In this context, a report from Bloomberg sheds light on the financial wealth of Changpeng Zhao, the CEO of #Binance , whose net worth exceeds $17 billion, despite the challenges the exchange has faced this year.
 Pro-Bitcoin President Bukele Announces Bid for Second Term
Nayib Bukele, the President of El Salvador and a #Bitcoin advocate, has announced his candidacy for re-election in the presidential elections set to take place in February 2024.
 Some critics argue that Bukele cannot run for a second consecutive term due to constitutional restrictions in El Salvador, although he enjoys considerable popularity and support from his party, Nuevas Ideas. However, the country’s Supreme Court ruled in favor of the possibility of consecutive re-election in September 2021.
 Nuevas Ideas has the support of about 70% of the voters in the country, placing it in a strong position against its political rivals.
The economic situation in the country has changed significantly thanks to the government’s support of the Bitcoin initiative and other pro-technology regulations.
 Gabor Gurbacs, a strategic advisor at VanEck, highlighted the potential of El Salvador to become a financial hub in the Americas.
 Elon Musk and His Positive Influence on Cryptocurrencies
Tech entrepreneur Elon Musk celebrated the anniversary of his Twitter takeover in October 2022 with a tweet emphasizing the newly found “freedom” of the platform. Musk’s journey to acquiring Twitter was full of twists and turns, including a major investment in the company’s shares, a rejection of a board seat, and eventually a rejection of the takeover offer.

Following the $44 billion acquisition, Musk implemented a series of significant changes on Twitter. He rebranded the website, expanded content options, introduced monetization and subscription options, and optimized operations.
As a result, the platform now boasts 500 million active users per month.
The Bitcoin community thanked Musk for “freeing the bird” and highlighted Bitcoin as a symbol of financial independence.
 A point of interest remains whether Musk will incorporate Dogecoin into his plans with Twitter, a question that has captured the attention of many.
 CZ’s Billion-Dollar Wealth Despite Binance Challenges
Reports indicate that Changpeng Zhao (CZ), CEO of Binance, has seen a significant reduction in his wealth due to decreased cryptocurrency trading volumes, now estimated at around $12 billion.
Data from Bloomberg shows that Binance, the world's largest crypto exchange, experienced a 38% drop in trading volumes this year.
As a result, CZ's estimated net worth fell to $17.2 billion, according to the Bloomberg Billionaires Index.
Binance’s market share dropped from 62% in the first quarter to 51% by the end of the third quarter following a zero-fee campaign.
Binance is facing various challenges and regulatory restrictions in the USA, but the price of Bitcoin remains positive today and seems unaffected by these developments.
 Bitcoin Price Forecast
Analysis of the daily Bitcoin chart shows a key pivot point at the price of $33,920, corresponding to the 23.6% Fibonacci retracement level. Immediate resistance levels are found at $34,500, followed by $35,250 and $36,150.
Conversely, support is expected at the $33,000 price level, corresponding to the 38.2% Fibonacci retracement level, followed by $32,450 and $31,800, which correspond to the levels

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Elon Musk's X Payments, a pivotal element of his X social network, recently achieved a significant advancement in its regulatory journey. The platform has successfully secured money transmitter licenses in three crucial U.S. states: Illinois, New Mexico, and Oregon. This development, occurring on March 20, marks a strategic expansion in Musk's endeavor to evolve his digital platform beyond its original incarnation as Twitter.
Expansion of Operational Reach
With the latest approvals from state supervisory authorities, X Payments extends its operational capabilities across the United States. These new licenses add to an existing portfolio that already includes 19 states, such as Georgia, Arizona, and Ohio. This expansion is a key part of Musk's broader vision to transform X into a super application that facilitates a wide range of financial transactions effortlessly.
Speculations on Cryptocurrency Integration
The acquisition of additional licenses has fueled ongoing speculation regarding the potential integration of cryptocurrencies, notably Dogecoin (DOGE), within the X social network. Although Musk has dismissed the possibility of issuing company-specific tokens, the cryptocurrency community remains abuzz with conjecture about potential partnerships involving Dogecoin and other digital currencies. The expanded licensing framework further amplifies discussions about cryptocurrency's role in X's ecosystem.
Regulatory Milestones and Future Vision
Each regulatory approval marks a significant step toward realizing Musk's ambitious plans for his digital empire. These achievements not only reinforce X Payments' stature in the technological and financial sectors but also hint at the platform's future directions. As X Payments navigates the regulatory landscape, it inches closer to Musk's vision of a comprehensive digital platform that encompasses a broad spectrum of services and transactions.
Conclusion
The recent acquisition of money transmitter licenses in Illinois, New Mexico, and Oregon represents a pivotal moment for Elon Musk's X Payments. This expansion enhances the platform's ability to support diverse financial transactions and potentially paves the way for integrating cryptocurrencies like Dogecoin into its ecosystem. As X Payments continues to secure regulatory approvals, it solidifies its role in Musk's vision of a super application, capturing the attention of enthusiasts and industry watchers alike. The future of X Payments, particularly its interaction with the burgeoning world of digital currencies, remains a closely watched development.
$DOGE
#Doge🦊 #Dogecoin #Elon #Musk

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Elon Musk recently hinted at an ongoing effort to remove trolls and bot accounts from the X app. This move is seen as crucial in the fight against crypto scams, as it aims to create a safer environment for users.
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Billionaire entrepreneur Elon Musk is taking decisive action against bots and trolls on his social media platform X. He announced plans for a complete system purge to rid the platform of fraudulent accounts that have been used to promote crypto scams.

Elon Musk Initiates Anti-Scam Campaign on X Platform
Elon Musk took to his social media platform X to announce a campaign targeting bots and trolls promoting crypto scams. This initiative has excited the crypto community, raising hopes for a significant reduction in fraudulent activities.
Musk encouraged users to report any legitimate accounts that might get suspended during the system purge. For assistance, users can reach out to @XEng.
System purge of bots & trolls underway.Please reply to me or @XEng if legitimate accounts are suspended.X Corp will be tracing the people responsible and bringing the full force of the law to bear upon them.— Elon Musk (@elonmusk) April 4, 2024

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X users are pleased with the news, expecting fewer fake accounts, which have been a persistent problem.
Crypto scams have long worried the crypto community, with many investors losing money to fraudulent schemes.
A report in December 2023 found that crypto hackers used Google search and X ads to scam over 63,000 victims out of almost $59 million worth of crypto.
Also Read:   Solana Co-Founder Introduces BunkerCoin Whitepaper
In January, Certik, a blockchain security firm, faced a security breach when hackers took over their X account. They then tricked Certik’s followers with phishing messages.

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Elon Musk Takes Firm Stance Against Crypto Scams on X Platform
Elon Musk has taken a strong stance against crypto scams on his social media platform X. Through X Corp, Musk promises to find and prosecute those behind fraudulent activities, using the full extent of the law.
Musk stated, “X Corp will track down and punish those responsible.”
Earlier this year, Ripple CEO Brad Garlinghouse criticized X for not effectively addressing a complex deepfake video scam targeting XRP. However, with Musk at the helm, the crypto community eagerly awaits the outcome of the cleanup, hoping for fewer scams on the platform.
Many crypto enthusiasts and investors see Musk’s efforts to remove bots, often involved in scams, as a crucial step in making the platform safer for users.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#Bitcoin #Ethereum #Crypto #Elonmusk #Musk $BTC $DOGE