Investors in Dogecoin have a reason to be very bullish today, as Coinbase announces they’ll be trading the meme coin
Coinbase, one of the world’s largest cryptocurrency exchange platforms announced that it will allow the trading of Dogecoin on its platform from Thursday.
In a tweet, Coinbase says “starting today, inbound transfers for dogecoin are now available in the regions where trading is supported.”
“Trading will begin on or after 9AM Pacific time on Thursday June 3, if liquidity conditions are met.”
Coinbase says “one of the most common requests they receive from customers is to be able to trade more assets on the platform” such as Dogecoin.
The exchange platform is assuring consumers that they will always look for new digital assets.
Billy Markus and Jackson Palmer created Dogecoin as an alternative cryptocurrency. Since then, the joke went viral earlier this year.
How about bitcoin? Is is finally stabilising?
Coinbase made the announcement to add Dogecoin to the platform after a very volatile few months in the crypto space.
However, it does appear Bitcoin is beginning to stabilise again. This comes after the world’s biggest cryptocurrency recorded no price changes overnight.
Swings in the price have now fallen to their lowest levels since the beginning of the year.
This comes despite speculation that US financial authorities are moving to create further regulations, and become more active in the crypto market.
Bitcoin’s volatility percentage has fallen from its high of 162 percent on May 24 to 106 per cent today.
Fund-trat Global Advisors’ Tom Lee says “despite another set of ‘negative headlines,” Bitcoin actually “rose $2,000 dollars over the weekend.”
He can’t help but view this as “reinforcing the likelihood that Bitcoin has bottomed…given bad news is not creating new lows.”
Disney withdraws ads from X amid tensions
Bob Iger, the CEO of Disney, faces a turbulent period as he navigates through challenges including activist investor pressure, plummeting stock prices, and declining consumer interest in Disney movies.
Amidst these struggles, Iger has taken a controversial step by publicly announcing the withdrawal of Disney’s advertisements from Elon Musk’s social media platform, X (formerly known as Twitter). This move aligns with a broader trend of progressive CEOs distancing themselves from platforms associated with figures like Musk and Donald Trump.
The decision to pull ads from X marks a significant shift in the digital advertising landscape. This platform, under Musk’s leadership, aims to transform from a ‘lefty safe space’ to a hub for unrestricted free speech. This pivot includes a commitment to allowing conservative voices and resisting influence from political entities, including those in the Biden administration. However, this transformation has placed Musk, the world’s richest man, in a vulnerable position, drawing intense scrutiny and criticism.
Musk’s situation worsened following his endorsement of a controversial tweet, perceived as antisemitic, suggesting a Jewish conspiracy behind a demographic replacement theory. This incident fueled antisemitic sentiments, especially in the wake of the tragic Oct. 7 Hamas attack in Gaza. Additionally, a report by Media Matters, a Soros-supported organization, accused X of juxtaposing major company ads, like Disney’s, with harmful neo-Nazi content. This allegation led to an advertising boycott, severely impacting X’s financial stability.
At the recent New York Times DealBook conference, Iger openly criticized Musk’s actions and X’s content policies, leading to Disney’s ad withdrawal. While Musk admitted his error, he and his team have countered Media Matters’ claims, accusing them of defamation and filing a lawsuit. Amid these controversies, stakeholders are questioning Iger’s strategic decisions for Disney, especially considering his legacy as a former long-term CEO and his role in shaping the company’s current direction under his successor, Bob Chapek.
Microsoft’s non-voting board seat in OpenAI revival
Microsoft has secured a non-voting board seat at OpenAI, marking a significant development as Sam Altman returns to helm the organization as CEO.
Microsoft’s new role within OpenAI comes as the tech giant continues to deepen its involvement in AI research and development. While the board seat is non-voting, it symbolizes Microsoft’s commitment to fostering collaboration in the AI community.
This move follows Sam Altman’s recent appointment as CEO of OpenAI, bringing him back into the fold after a brief stint at the helm of the startup in its early days.
With the resurgence of Altman as CEO, and Microsoft’s newfound presence on the board, the question arises: What synergies will this partnership unlock between two prominent entities in the AI domain?
As AI technologies continue to advance, what potential breakthroughs can we expect from this collaboration?
In summary, Microsoft has secured a non-voting board seat at OpenAI as Sam Altman returns as CEO, signaling a deepening alliance in the world of artificial intelligence.
Elon Musk’s X faces $75M loss as advertisers exit
Elon Musk’s venture, X, is bracing for a substantial financial hit as reports suggest it could suffer losses of up to $75 million by the end of this year.
The turmoil stems from a growing exodus of advertisers, which has sent shockwaves through the company’s revenue streams.
The advertiser exodus appears to be linked to controversies surrounding Elon Musk and his unconventional approach to business and social media. Musk’s controversial statements and tweets have drawn both praise and criticism, but they seem to have alienated a significant portion of X’s advertising partners. Many companies are distancing themselves from the venture due to concerns about brand image and association with Musk’s unpredictable behavior.
This development raises pressing questions about the future of X and its ability to retain advertising partnerships. Can Elon Musk navigate these turbulent waters and win back advertisers? Will X need to reevaluate its strategies and adopt a more traditional corporate image? How might this impact the overall financial health of the venture, and what steps will be taken to mitigate losses?
In the midst of these uncertainties, it remains to be seen whether X can weather the storm and maintain its prominent position in the business world. Elon Musk’s unorthodox approach has often yielded success, but the current challenges pose a significant threat to the venture’s financial stability. As the year-end approaches, observers are closely watching to see how Musk and X respond to this critical situation.
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