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Musk Got Everybody, Buterin Burns and Miserable Week for Crypto

05/21/2021
|
  • Musk
  • Buterin
  • ShibaInu
News list

Drop in Prices on Crypto Exchanges. Who Showed the Long Finger to Elon Musk. Vitalik Buterin Burns His Wealth.

Drop in Prices on Crypto Exchanges

From the beginning of the year, major cryptocurrencies were mainly showing growth: Ethereum and Bitcoin took record highs and went on to the next ones; this week has broken this trend. The main crypto has dropped by 30% and for the first time over the year cost thirty thousand USD.

This was preceded by a number of negative pieces of news that caused the great fall in the crypto markets. Elon Musk stated that Tesla would not be sold for Bitcoins, motivating it with the low eco-friendliness of crypto mining. The US Department of Justice and the Internal Revenue Service (IRC) initiated an investigation against one of the major exchanges, Binance, based on presumed violation of Anti-Money Laundering laws and tax default.

Such a sharp dive of Bitcoin caused a great drain of cryptocurrencies from exchanges. Over the day, investors withdrew 175 thousand Bitcoins. There was nothing like that since March 2020, when the drain amounted to 250 thousand Bitcoins. Bitcoin sales have predictably grown after this record dive when all big investors bought it in bulks for thirty thousand USD.

Drop in Prices on Crypto Exchanges

Who Showed the Long Finger to Elon Musk

The developer and millionaire's name is not leaving the news — including ours, — however, not everyone is viewing him and his activity in a positive way. So there is a group of anonymous people who developed a new token with a speaking and clear name ‘Fuck Elon Tweet’.

This is how the token founders wanted to show that they are tired of Musk's manipulations — whenever he posts something on Twitter, there are sharp moves on crypto markets. They declared to emit around 1 billion ‘Fuck Elon Tweet’ tokens. By today, they have been sent to over 1600 wallets.

However, some people believe that the new token is a scam project, since there are few wallets that own 10% of all tokens, while users doubt that the declared protocol will enable investors to monetize their funds. In particular, Reddit blocked the page of the author who announced ‘Fuck Elon Tweet’ creation.

Who Showed the Long Finger to Elon Musk

Vitalik Buterin Burns His Wealth

One of the founders of the world's second most popular and capitalized cryptocurrency, Ethereum, burned Shiba Inu tokens given to him as a present by users. The price of the burned tokens is estimated as 6,7 bln USD.

Thus, Buterin burnt around 90% of the Shiba Inu tokens in his possession by sending them to a non-existent wallet. The rest 10% he donated for fighting COVID-19 in India. He asked users to stop sending him tokens, and send them to charity instead.

Earlier, the token-meme Shiba Inu creators sent more than half of all of the emitted tokens to Vitalik, most likely in order to attract attention to their coin.

Vitalik Buterin Burns His Wealth

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