Weekly Digest: DOGE, Robinhood and SHIB, Twitter and Musk

By CoinJoy | CoinJoy Magazine | 15 Apr 2022


 

Weekly Digest

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📌Musk Offers to Buy 100% of Twitter For $43 Billion

Elon Musk has expressed his intention to purchase 100% of Twitter shares at a price of $54.2 per share, as reported by Bloomberg. According to CNBC, the deal could be worth more than $43 billion if approved. Amid the announcement, Twitter shares rose by 11%, reaching the $51 mark. Last month, Musk bought a 9.2% stake in Twitter, making him one of the biggest shareholders. Twitter CEO Parag Agrawal announced that Musk could be joining the board of directors, however, the billionaire refused the offer later. According to Forbes Real Time, Elon Musk’s current net worth is $265.1 billion. 

 

📌Millions Stolen From Elephant Money

The Elephant Money DeFi protocol was hacked earlier this week. According to the development team, hackers took advantage of multiple vulnerabilities in the platform’s smart contract code, and were able to get away with more than $11 million (27,416 BNB). PeckShield analysts stated that the attackers took a flash loan of over 130,000 wBNB and 91 BUSD. They later carried out a series of manipulations with the conversion of cryptocurrencies through vulnerable smart contracts and laundered the stolen money through the Tornado.cash mixer. The cyber attack, currently under investigation, resulted in $ELEPHANT price dropping by an overwhelming 76.88% in less than 24 hours. 

 

📌Dogecoin Will Perform Offline Transactions Via Starlink

On April 11, Dogecoin updated the community on the RadioDoge development. The project, combining the use of Starlink’s satellite network and radio communications, aims to provide the broad masses with the ability to conduct offline Dogecoin transactions. RadioDoge is partnering with GigaWallet, an API solution for mobile devices, to let developers add DOGE to their payment platforms, thus positively affecting the token’s mass adoption. Dogecoin’s Libdogecoin is also in its first phase of rollout. Libdogecoin will allow integration of the token into various applications and systems. Launched in 2013, Dogecoin is currently the 11th largest cryptocurrency on the market. 

 

📌Robinhood has added support for Shiba Inu

Robinhood, an online broker, has listed Shiba Inu and three other cryptocurrencies on its platform. The news resulted in SHIB’s prices increasing and the token’s market capitalization growing by more than $1 billion in less than an hour earlier this week. Following the announcement, Robinhood announced a $100,000 giveaway for 10,000 lucky winners on Twitter. Currently users of the platform are only able to buy and sell SHIB, however, the team emphasized that the ability to replenish wallets and withdraw funds will be added soon. To remain safe and secure, Robinhood judges all cryptocurrencies against a “strict set of rules” before adding them to the platform. According to analysts, long-term SHIB owners were able to increase their balance sheet by as much as 57.11% in just 30 days. Shiba Inu remains popular among big Whales, one of which previously acquired 775 billion SHIB. The token is also the 4th largest cryptocurrency in the United States. 

 

📌 DOGE Pumps On Elon Musk’s Offer to Buy Twitter 

One of Dogecoin’s long-time supporters, Elon Musk has offered to buy Twitter for $41 billion, with hopes of turning the social network into an international platform for free speech. Amid the announcement, DOGE went up by 6%. Some experts emphasize that by turning Twitter into a private company Musk could possibly fire the entire board of directors. However, others think that Musk went ahead with the proposition in order to get rid of his Twitter stock at a price higher than his 9.2% stake purchase. At the same time, former Tron CEO Justin Sun offered to purchase Twitter for the price of $60 per share. In a series of tweets, the entrepreneur clarified that he wants to make Twitter an “open and decentralized web3 framework”. Earlier this week, Elon Musk was offered a seat in the board of Twitter directors, which he later rejected. However, the Tesla founder proposed accepting DOGE as a means of payment for Twitter Blue subscription services. 



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