Users who checked Twitter this week may have noticed what appeared to be a late April Fools joke when the recognizable bird logo was changed to a Shiba Inu, which is both the internet-famous dog and the cryptocurrency Dogecoin's emblem. Although it is still well below its 2021 peak, the value of cryptocurrencies increased, with Dogecoin rising by almost 30% over night when Twitter updated its logo on Monday. Elon Musk, the owner of Twitter, has long supported Dogecoin and is currently being sued for allegedly manipulating its price. It was unclear whether the new logo was intended to be permanent or when Twitter's original "Larry T. Bird," which was named after Celtics player Larry Bird, would make a comeback. Twitter automatically responded to CBS News' request for comment with the smiling poop emoji. Musk tweeted on Monday, "As promised," making fun of a user's joke about wanting to update the logo. The concept was born in response to Musk's criticism of Twitter, which he had long held before to his purchase, and a user's suggestion that he "just buy Twitter" and "change the logo from a bird to a doge." "Haha that would [be] sickkk," the prospective CEO retorted. Musk tweeted many memes that made reference to the adjustment. Users were drawn to the new logo since Musk is being sued for allegedly using Twitter to promote Dogecoin and make money off of other investors. The case is being thrown out by his attorneys. The class-action lawsuit claims that over the course of several years, Musk increased the value of Dogecoin through numerous tweets and memes, only to let it sink following an appearance on "Saturday Night Live" where he referred to the meme cryptocurrency as a "hustle." Musk is accused of "falsely and deceptively claiming that Dogecoin is a legitimate investment when it has no value at all" and that he and his firms, SpaceX and Tesla, generated billions of dollars in profits at the expense of other investors. The case states that "Defendants were aware that Dogecoin had no value since 2019 yet promoted Dogecoin to profit from its trading." In order to administer and manipulate the Dogecoin Pyramid Scheme for profit, exposure, and entertainment, Musk used his position as the richest man in the world. Investors "have lost approximately $86 billion as a result of this fraudulent enterprise," the lawsuit argues. Lawyers for Musk denied those allegations. In a formal plea to dismiss the lawsuit, filed on Friday, they stated, "There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion." They contend that Musk did not make any "misrepresentations or omissions" when he made statements like "Dogecoin Rulz" or "No highs, no lows, only Doge." They wrote, "This court should stop the plaintiffs' fantasy and dismiss the complaint."

In a filing with the Securities and Exchange Commission on Wednesday, the business software company established by Bitcoin enthusiast Michael Saylor revealed that it had bought 1,045 Bitcoin for approximately $29.3 million in cash, or an average price of nearly $28,016 per coin. According to a tweet on Wednesday by Saylor, MicroStrategy's most recent acquisition brings the company's total Bitcoin holdings to roughly 140,000, valued at about $4 billion and acquired at an average price of $29,803. Crypto Saylor and MicroStrategy, both of which have long been cryptocurrency hodlers, were quickly congratulated on Twitter, especially by Bitcoin enthusiasts. According to an SEC filing, the business sold its first batch of Bitcoin in December, selling 704 units for an average price of $16,776, netting $11.8 million. MicroStrategy's multimillion-dollar purchase was made between March 24 and April 4, which coincided with the U.S. government's large auction of $215 million in Bitcoin that had been seized from an alleged hacker in a case involving the Silk Road online illegal market. James Zhong, the defendant, was charged with wire fraud for allegedly getting 50,000 Bitcoin from the Silk Road marketplace unlawfully; he later entered a guilty plea. The digital assets were taken by the government, and as of Wednesday, just over 41,000 of them were still in possession. They were valued more than $1 billion. Since the beginning of the year, Bitcoin has been on a tear, rising 73% in the first quarter of 2023, its highest quarter in two years, according to CoinDesk. In the first quarter, the S&P 500, Dow Jones Industrial Average, and Nasdaq were all outpaced by the most popular cryptocurrency in the world, which some analysts claimed had reclaimed its position as a store of value comparable to gold. According to CoinMarketCap, the price of bitcoin was just below $28,000 on Wednesday, having dropped 0.5 percent in the previous day.

The cryptocurrency market is fast-paced and constantly evolving, which means that staying on top of the latest trends and price movements is essential for any serious investor. One tool that has gained popularity in recent years is the desktop crypto ticker device, which provides real-time information about the market and can help users make informed decisions about their portfolios. A desktop crypto ticker device is a small hardware device that is designed to sit on a user's desk or workspace and display real-time information about the cryptocurrency market. These devices are typically compact and easy to use, and they offer a range of features and functions that can help users stay informed about the market. One of the key benefits of using a desktop crypto ticker device is that it provides real-time updates on the market without the need to constantly check websites or apps for updates. This can save time and help investors stay ahead of market movements, enabling them to make faster and more informed decisions about their portfolios. Another advantage of using a desktop crypto ticker device is that it can be customized to display the specific information that is most relevant to the user's needs. For example, some devices can display price updates for specific cryptocurrencies, while others can display volume data, market cap, and other important metrics. In addition to providing real-time market data, many desktop crypto ticker devices also offer other features and functions that can be useful for investors. Some devices offer portfolio tracking tools, allowing users to monitor the performance of their investments over time. Others may offer alerts and notifications, notifying users when prices reach a certain threshold or when other important events occur in the market. Overall, a desktop crypto ticker device can be a valuable tool for any investor looking to stay on top of the cryptocurrency market. Whether you are a seasoned trader or just getting started with cryptocurrencies, a desktop crypto ticker device can help you stay informed and make better decisions about your investments.

Binance, a major cryptocurrency exchange, has had staggering outflows of $2.2 billion since it was revealed that the Commodities Futures Trading Commission is suing it in the US (CFTC). Customers of Binance have taken notice of the case, which claimed that Binance provides "unregistered securities" to retail users in the US. It was made public by the CFTC on Monday of this week. The Wall Street Journal reported this week that up to $2.1 billion in net outflows have been observed on Ethereum alone over the last seven days, using data from Ethereum tracking platform Nansen. The pattern is not exclusive to Ethereum; identical withdrawals have also occurred on other significant blockchains like Bitcoin, Tron, and Binance's BNB Chain. The enormous sum is derived from Binance's total holdings in wallets that are known to the public, which at the time were valued at about $63.2 billion. Nansen analyst Andrew Thurman commented on the withdrawals in the Wall Street Journal piece, describing the level as "heightened compared to regular activity" and adding that the activity increased following the CFTC announcement. Thurman noted that, despite being more than usual, Binance has previously experienced larger withdrawal rates. One of those instances occurred last month when New York regulators prohibited Paxos from continuing to issue the well-known Binance USD (BUSD) stablecoin. On behalf of Binance, which operates globally under a variety of international regulatory frameworks, Paxos, a licensed trust business in New York, issues BUSD. Following the prohibition, Binance CEO Changpeng Zhao stated that Paxos "will continue to service the product, and manage redemptions," while also acknowledging that customers will probably switch to other stablecoins "over time" as a result of the suspension of fresh BUSD minting. The reinstatement of trading fees on Bitcoin trading pairs is another challenge that Binance has recently faced, and it may be the cause of recent withdrawals and overall reduced trading volumes on the platform. Binance formerly provided fee-free trading on all bitcoin pairings as one of the very few in the market, which unsurprisingly caused a significant increase in trading volume. The return of trading fees, however, may have caused some traders to start looking at other exchanges, notably algorithmic traders who are in charge of large volumes, which has increased the number of withdrawals. John Quarnstrom, a portfolio manager at the cryptocurrency hedge fund Iceberg Capital, claimed fees are "very crucial" in the crypto market in a statement to the Wall Street Journal. For the most part, he stated, "I'll decide to trade on an exchange first and foremost on its custodial aspect; the second is definitely the fees." However, the exchange, as usual, indicated there is no reason to be concerned for people who are concerned about Binance's capacity to honor all the withdrawals. According to a Binance representative, "[We] have] more than enough funds to fulfill withdrawal requests," the Wall Street Journal reported.

A new event in the realm of cryptocurrencies has drawn a lot of attention: Billionaire entrepreneur Peter Thiel has said that he might have met the person or group who created Bitcoin under the alias Satoshi Nakamoto. Thiel claims that they met 23 years ago in Anguilla at a symposium on financial cryptography. This information was revealed at the same time as Thiel's friend Balaji Srinivasan predicted Bitcoin may reach a $1 million valuation. It is conceivable that Thiel met Satoshi given his connections at the time, which included Elon Musk, the PayPal Mafia, the creators of E-Gold, Srinivasan, and Vitalik Buterin. Yet, it's unclear how closely they are connected. Investigating Thiel's Possible Satoshi Connection Thiel reflected, "In February 2000, I met them in Anguilla on the sand. Initiating a revolution against central banks was what we were doing. We aimed to overturn all central banks and integrate PayPal with E-Gold." When the US Justice Department shut down the project and detained the project's founders for unregistered money transmission in 2007, E-Gold came to an end. For more than another seven years, E-effects Gold's and forfeitures lingered. Nakamoto's concept for Bitcoin may have found plenty of inspiration at the Financial Cryptography conference, a long-running gathering of cypherpunks. Researchers at the conference delivered papers titled "Efficient Electronic Cash with Limited Privacy" and "Electronic Cash - Technology Will Denationalize Money." Thiel asserts that Satoshi must have drawn inspiration from E-Cash for ideas like eschewing formal hierarchies and using the MIT's Open Source License for Bitcoin. Near To Source: PayPal Mafia Thiel was a part of the "PayPal Mafia," a group of FinTech start-up founders who amassed substantial riches through dot-com firms and IPOs, that emerged in the early 2000s. Elon Musk, the founder of X.com and an early proponent of Bitcoin and Dogecoin, and Balaji Srinivasan, a former Coinbase CTO and General Partner at Andreessen Horowitz, were prominent figures (a16z). Recently, Srinivasan gained headlines for betting that Bitcoin will hit $1 million because of possible American hyperinflation, though some have questioned whether this is really a publicity ploy. Thiel and longtime friend Srinivasan have similar views on seasteading and the American banking system. Both claim that in order to be unregulated, bitcoin needs a sovereign state. Only days before its disastrous bank run, Thiel's Founders Fund cleverly transferred billions of assets from SVB in an effort to avert the calamity. While some criticize Thiel's claims, others draw attention to allegations that he sold his Bitcoin holdings. Thiel undoubtedly contributed to the early Financial Cryptography community, regardless of his current involvement in cryptocurrencies, and he still has strong opinions about banks. Thiel publicly expressed his mistrust of the US dollar at the 2022 Bitcoin Miami conference by tearing up $100 bills and criticizing the banking system.

On Monday, the U.S. Commodities Futures Trading Commission (CFTC) filed a lawsuit against Binance and its founder Changpeng Zhao, alleging that the business knew it was breaking the law by offering unregistered crypto derivatives products in the United States. The lawsuit, which was submitted on Monday to the U.S. District Court for the Northern District of Illinois, claimed that Binance ran a derivatives trading business in the country and provided trades for a variety of cryptocurrencies, including bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT), and Binance USD (BUSD), which it referred to as commodities. The lawsuit also claimed that Zhao, the company's head, gave orders to staff members to use virtual private networks to disguise their whereabouts.

Tuesday will see the U.S. Supreme Court hear arguments in its first-ever case involving cryptocurrency, when counsel for San Francisco-based Coinbase will try to persuade the nine Justices to put a halt to two class-action lawsuits brought against the cryptocurrency exchange. The top court will hear a case on Tuesday, although it is not specifically related to cryptocurrency. Nevertheless, this issue involves a rather specialized procedural debate over whether a lawsuit can go forward in federal court while one party—in this case, Coinbase—tries to have the matter arbitrated. Contrary to its user agreement, which calls for disputes to be arbitrated, Coinbase is currently appealing a judgment from a federal court in California that allowed the two lawsuits, Bielski v. Coinbase and Suski v. Coinbase, to proceed. Arbitration is an alternative to litigation where the deck is frequently unjustly stacked against the consumer. The exchange's arbitration clause, according to the U.S. District Court for the Northern District of California, is "unconscionable" and employs a "litigation gimmick" to disadvantage users in the event of a dispute. This argument was made in response to Coinbase's motion to compel arbitration in the Bielski case last April. The verdict was maintained when Coinbase filed an appeal with the next-highest court, the 9th U.S. Circuit Court of Appeals in San Francisco, in July. Judges have thwarted some class-action lawsuits while allowing others to move forward, making Coinbase something of a magnet for these claims. The lawsuits have been filed on a variety of matters, including claims that the exchange botched its public listing and that it traded unregistered securities after the U.S. Securities and Exchange Commission declared some tokens to be securities. Bielski's lawsuit claimed that Coinbase infringed the law by refusing to compensate him for the more over $31,000 he lost as a result of being targeted by a con artist acting as a PayPal representative. Other lawsuits have been connected to complaints about breaches and shoddy security, as well. Suski v. Coinbase, the other case the Supreme Court will consider on Tuesday, is a $1 million prize that the exchange sponsored in June 2021. Suski and other clients claim advertising misled them into believing they had to buy or sell $100 in dogecoin to be eligible to win, while in fact everyone, regardless of whether they traded dogecoin, was. Coinbase has been compelled to engage in an increasingly frenzied game of legal whack-a-mole as the lawsuits pile up. Future lawsuits may be compelled into arbitration if the exchange obtains the outcome it wants from the Supreme Court, which would make it simpler for Coinbase to handle them. Although the final ruling won't establish a precedent for the most crucial crypto concerns, it may have a big impact on the developing legal environment surrounding cryptocurrencies. It would also have broad ramifications for other cryptocurrency businesses, which are increasingly the focus of class-action lawsuits. This case will be the second on the docket when the court meets in Washington, D.C., Today, March 21, 2023 at 10:00 a.m. EST. Arguments in person should last 60 minutes.

UBS Group, the largest bank in Switzerland, signed a merger agreement with Credit Suisse, its ailing rival. In order to complete the transaction, the former will pay $3.25 billion, which is 60% less than what Credit Suisse was worth at the end of the previous week. Positively impacted by the news, Bitcoin surpassed $28,500 for the first price since June 2022.

Balaji Srinivasan, a former chief technical officer of Coinbase, has wagered $1 million on the price of Bitcoin during the following ninety days, anticipating that it would hit $1 million by June 17. James Medlock, a Twitter user going by a fake name, offered to bet anyone $1 million that the United States will not experience hyperinflation on March 17. The previous Coinbase CTO accepted the wager a short while afterwards.

After Circle Internet Financial Ltd. revealed that it had $3.3 billion invested in the now-defunct Silicon Valley Bank, the value of a significant cryptocurrency that mimics the U.S. dollar plummeted. On Saturday morning, USD Coin's value dropped below 87 cents, as per CoinDesk data. This stablecoin is intended to be traded precisely at $1 and is backed by actual U.S. dollars and short-term government bonds, making it a crucial component of cryptocurrency trading. Circle Internet Financial announced that it would assume responsibility for any deficiency in the collateral supporting its stablecoin USDC in case it did not receive the full amount of the $3.3 billion cash reserve it had on hold at Silicon Valley Bank.

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Bitcoin bounces back to the $20K mark following a cryptocurrency market sell-off that resulted in liquidations worth $200 million. Where do we go from here?

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