Elon Musk’s New Twitter Logo Sparks Euphoria in the XRP Community

Marina Meza
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Elon Musk’s New Twitter Logo Sparks Euphoria in the XRP Community

Elon Musk announces the change of the Twitter logo to an ‘X’, generating excitement and support from the XRP community.

On Sunday, July 23, billionaire Elon Musk announced that he would be changing the Twitter logo to an ‘X’ on Monday, sparking excitement among the XRP community, which responded positively to the news.

According to Musk, the new logo with the letter ‘X’ represents the name of the “super app” that he wants to create to compete with the Chinese social media and instant payments giant, WeChat. Musk openly stated his desire to replicate the “WeChat for the West” model, suggesting that this move is long overdue.

In addition, the Tesla CEO, known to be a cryptocurrency enthusiast, received some unexpected support from the XRP community, despite not tweeting about it with the same passion as he does about his favorite memecoins: Shiba Inu (SHIB) and Dogecoin (DOGE).

The name X comes from Musk’s legacy business, X.com, a precursor to PayPal. Musk bought the domain name back in 2017, saying he had no plans for it at the time, but that it held “great sentimental value” to him.

The name change and super app aren’t the only differences Musk has long tracked, even before the deal was completed. Cracking down on spam, increasing premium users, and adding payment features (perhaps even in Dogecoin) are all ideas the billionaire has brought up.

XRP Community Applauds Twitter Makeover

The XRP community on Twitter wasted no time in expressing their thoughts on the new logo, given its resemblance to the XRP logo.

Renowned XRP community influencer @XRPcryptowol” proposed a logo identical to that of XRP, emphasizing the similarities of the “X” by placing it on a black background, suggesting that it would look better than the logo posted by Twitter CEO Linda Yaccarino, “Anyone else agrees that the XRP logo looks way better?”

However, other users, such as @ JustSayin.eth, pointed out that the resemblance to the XRP logo was so striking that Ripple “should still sue Elon for the clear copyright infringement.”

Some users reminisced about the good old days when the social media giant had a tipping bot that used XRP, wondering if there was a chance that the new “app X” would reintroduce such payment features.

Elon Musk Changes the Twitter Logo Again

This is not the first time that Elon Musk has decided to change the Twitter logo overnight. A few months ago, he replaced the blue bird logo with the image of a Shiba Inu, the most loved and appreciated dog among both memecoin enthusiasts and Elon Musk himself.

Such an unexpected makeover resulted in a class action lawsuit in June 2022, alleging memecoin price manipulation to unfairly enrich billions of dollars through undisclosed sales of Dogecoin, using inside information.

After the first logo replacement, DOGE’s price increased by 30%. However, Musk attempted to dismiss the original lawsuit, claiming there was nothing illegal about backing a legitimate cryptocurrency.

Furthermore, there has been no evidence of illicit enrichment by the billionaire, who continues to voice his support for memecoins on every possible occasion.

By Marina Meza

Worldcoin (WLD) Price Plunges 40% Amid Concerns Over Its Tokenomics

Audy Castañeda
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Worldcoin (WLD) Price Plunges 40% Amid Concerns Over Its Tokenomics

The recently launched Worldcoin (WLD) token has plunged 40% due to concerns about its tokenomics model and privacy concerns. Worldcoin’s tokenomics model plans to unlock most of its 10 billion WLD tokens in the next 15 years. Almost 10% of the offering is allocated to early investors, such as a16z, who led the ICO.

Worldcoin (WLD), the native token of the “privacy-preserving digital identity (World ID)” project founded by OpenAI co-founder Sam Altman, skyrocketed after listing on major cryptocurrency exchanges on July 24.

Worldcoin’s recently launched WLD token suffered a sharp drop as investors delve into its tokenomics model. The project has also drawn a torrent of criticism on privacy issues, among other things.

Worldcoin has been active for less than 24 hours and has already created a maelstrom of negativity in the crypto community. Additionally, their native WLD token has lost 40% due to the questionable tokenomics of the project.

Worldcoin tokenomics under the spotlight

The highly publicized Worldcoin project launched on July 24. It uses iris scanning hardware and technology to verify identities and rewards participants with their native token. It has been heavily criticized for privacy concerns and an “Orwellian” approach to verifying identities.

The project is now under fire for its tokenomics model, which sees the majority of its 10 billion WLD tokens unlocked in the next 15 years.

According to Token Unlocks, three-quarters of the supply will go to the community. This is much better than certain DeFi protocols, which allocate most of their tokens to investors and VC insiders. However, his definition of “community” includes governance and is very vague.

Almost 10% of the offering is allocated to early investors, such as a16z, who led the ICO. Major projects that have regular token unlocks have seen a lot of selling pressure on their tokens.

On the other hand, senior analyst Dylan LeClair noted similarities between its token distribution model and that of other platforms:

“Worldcoin […] launching and pumping a microcap shitcoin with 1% of the total supply in circulation. $22.8 billion fully diluted market capitalization. Hello.”

The sarcasm continued: “This Ponzi is still on the ground floor,” he said before suggesting to “Ignore VCs ready to dump (again). This time it’s really different.”

WLD Price Opinions and Crash

The founder of security agency SlowMist said that if Worldcoin succeeds, it will be an “evil product.” It is possible for hackers to paint a portrait through the hashed information, he added.

Dr. Jeff Ross, founder and CEO of Vailshire Capital Management, conducted a survey asking if Worldcoin “would be the biggest crypto rug-pull yet.” Nearly 63% of the 962 people who voted at press time agreed.

Less than 24 hours after launch, the initial pump and dump of Worldcoin tokens can already be seen.

The token launch saw the issuance of 143 million WLDs and, notably, 100 million were allocated to market markers, while the remaining tokens were received by investors who verified themselves by scanning their iris during the Worldcoin pre-launch process.

WLD rose to a peak of $3.30 a couple of hours after it was released. However, the token has since fallen 41.3% to $1.97, according to CoinGecko.

By Audy Castaneda

Altcoin ‘X’ Explodes 1,000% After Elon Musk’s Twitter Rebrand

Audy Castañeda
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Altcoin ‘X’ Explodes 1,000% After Elon Musk’s Twitter Rebrand

Cryptocurrency ‘X’ surged more than 1000% following Elon Musk’s announcement to change Twitter’s name to X.com. Token X, tied to a closed NFT market, was trading at $0.00002 and jumped to $0.00025 with volume rising to $50,000. Despite the unrelated token surge, the overall crypto market remains dormant with a total capitalization of $1.23 trillion.

Twitter’s owner, Elon Musk, hinted on Saturday that he could soon ditch the blue bird logo of said social network, and opt for one based on an “everything application”.

“Soon we shall bid adieu to the Twitter brand and, gradually, all the birds,” he expressed on the social network, implying the term for the association made with the sound emitted by birds, which gave rise to the word “tweet.”

A cryptocurrency called X has skyrocketed by four figures in the wake of Elon Musk’s announcement to change Twitter’s name. A token called X linked to a now-closed NFT marketplace has risen more than a thousand percent since Musk’s announcement on July 23.

X Token Cranks

In the last 12 hours or so, token X has risen 1047%, according to CoinGecko.

On Sunday, the obscure coin was trading at $0.00002 with virtually zero volume and liquidity. By Monday morning in Asia, it had risen to $0.00025, with volume rising to $50,000. Almost all of that volume is on the SushiSwap decentralized exchange (DEX).

The totally unrelated token is tied to the X NFT marketplace, which announced its closure in May. Their website claims that the treasury of around $950,000 was returned to X token holders.

Also, bad gamblers are adding to the “hype” surrounding Elon Musk’s comments. On July 23, he tweeted: “X.com is now targeting Twitter.com. The Interim X logo will be released later today.” He said that he was “not sure what subtle clues they gave it, but I like the letter X.”

The recently appointed CEO of X Corp., which owns Twitter, Linda Yaccarino, was quick to follow up:

“For years, fans and critics alike have pushed Twitter to dream bigger, to innovate faster, and to fulfill our great potential. X will do that and more. We’ve already started to see X take shape over the past 8 months through our rapid feature launches, but we’re just getting started.”

She further added that “Twitter made one massive impression and changed the way we communicate. Now, X will go further, transforming the global town square.”

An additional tweet reads “X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we’re just beginning to imagine.”

Musk tweeted the ‘X’ symbol about an hour ago, but there have been no visible changes to the Twitter platform yet.

Crypto Market Reaction

Aside from the unrelated shitcoin X and a pump and dump on StormX (STMX), the crypto markets are still dormant. Total capitalization remains at $1.23 trillion, where it has been over the weekend.

BTC prices topped $30,000 a few hours ago but later fell back to $29,756. The rest of the altcoins are sinking deeper into the red during the Asian trading session on Monday morning.

By Audy Castaneda

Interest in XRP Futures Hits All-Time High

Audy Castañeda
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Interest in XRP Futures Hits All-Time High

Interest in XRP futures contracts hits an all-time high of $12 billion, reflecting growing investor confidence in the cryptocurrency.

Interest in XRP futures contracts has reached a peak of $12 billion, marking the highest level since November 2021. This milestone reflects the growing popularity of XRP in the futures market, where traders can speculate on the future price of the cryptocurrency without actually owning it.

The Rise of XRP in the Futures Market

In the universe of cryptocurrency exchanges, Binance is in the lead with the highest open interest, reaching $357 million. They are followed by Bitget and OKX with open interests of 198 and 71 million dollars respectively.

This huge jump in XRP futures open interest comes as Ripple CEO Brad Garlinghouse recently praised cryptocurrency advocates in Congress. Faced with the SEC’s decision to appeal the ruling in Ripple’s favor, Garlinghouse expressed his frustration with the regulator’s overreaching on Twitter on July 23.

The Ripple CEO argued that the SEC’s approach to the cryptocurrency industry was too focused on law enforcement, leaving consumers unprotected and often dealing with consequences in bankruptcy court.

The closely watched legal battle between Ripple and the SEC has major implications for the broader cryptocurrency industry. The case centered on whether XRP should be classified as a security, with a recent United States District Court ruling in favor of the defendants mostly.

The growth in the open interest of XRP futures contracts is an indicator of the growing confidence of investors in this cryptocurrency. As more traders bet on XRP futures, the volume of futures contracts in circulation increases, which in turn can influence the price of XRP on the spot market.

Several factors may be driving this growing interest in XRP futures contracts. These include investor expectations about the future performance of XRP, fluctuations in the price of the cryptocurrency, and general trends in the cryptocurrency market.

XRP Trend and Futures Contracts

As interest in XRP futures contracts continues to grow, it is likely that there will be further development and maturity in this market. Investors and traders will keep an eye on price trends and news related to XRP to make informed decisions about their investment and trading strategies.

XRP Current Situation

The XRP token, one of the most popular and widely used cryptocurrencies in the world, is in a slight correction phase. Currently, it is trading at a price of US$0.72, which represents a decrease of 1.4%, as compared to its value at the end of last week.

Said decline, although modest, is notable, as it marks a change in the bullish trend that XRP has been experiencing in recent sessions.

In addition, XRP maintains its position in the ranking of the most valuable cryptocurrencies by market capitalization. It ranks fourth, just behind industry giants like Bitcoin, Ethereum, and stablecoin Tether. With a market capitalization of just over $38 billion, XRP remains one of the most traded cryptocurrencies in the world.

Despite the recent drop in its value, XRP remains an attractive option for many investors and traders. Its strong market position, along with its wide adoption and use in cross-border payment platforms, make Ripple a cryptocurrency to be reckoned with. As we go through the week, it will be interesting to see how the XRP price evolves and if it can recover from this slight correction.

By Audy Castaneda

Bitcoin Blood Money: Woman Gets 5 Years for Hiring Crypto Hitman to Kill Her Ex-Husband

Marina Meza
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Bitcoin Blood Money: Woman Gets 5 Years for Hiring Crypto Hitman to Kill Her Ex-Husband

In a shocking revelation on the dark web, Bitcoin played a chilling role in a sinister plot masterminded by an American woman from Nevada.

Intent on carrying out an evil act, Kristy Lynn Felkins, a 38-year-old woman from Nevada. sought the services of a contract killer to execute a deadly plan against her ex-husband.

The chilling narrative began in 2016 when Felkins initiated communication with an entity she believed to be a contract killer on a dark web platform.

Unbeknownst to her, the website was a front, a scam that preyed on unsuspecting customers seeking sinister services. The alleged hit man, operating under pseudonyms, lured Felkins into a web of deception, promising to execute the vile act in exchange for $5,000 worth of Bitcoin.

Bitcoin and the Plot Horrible Details

In her guilty plea, Felkins admitted that her intentions went beyond simply eliminating her ex-husband. She expressed disregard for the well-being of her ex-husband’s new partner, callously ignoring any harm that might befall her during the planned murder.

Further investigation revealed Felkins’ chilling motive: she hoped to claim a substantial life insurance payout following the death of her ex-husband, adding an unsettling financial incentive to her sinister plot.

Her plan seemed all too real to Felkins when she asked if the hitman could make the murder look like a random act of violence, a mugging gone wrong. This disturbing question reflected a cold and calculated mind, driven by the desire to escape suspicion and evade the clutches of justice.

Felkins’ Guilty Plea and Confession

As legal proceedings unfolded, Felkins eventually pleaded guilty to one count of murder-for-hire, seeking to avoid a lengthy trial that could expose her evil intentions.

To secure a more lenient sentence, she struck a deal with federal prosecutors, confessing to her evil plans.

A US District Court judge in California has returned a verdict, bringing a measure of justice to this chilling saga. Felkins was sentenced to five years for her role in the attempted murder-for-hire plot. However, this case highlights the dark and alarming convergence of anonymity and bitcoin in the depths of the Internet, posing a significant threat to our digital society.

Law enforcement agencies and cybersecurity experts remain vigilant, acknowledging that this is just one spooky peek into the dark web abyss.

Not the First Murder-for-Hire Crypto Case

As revealed by the FBI in May 2021, Nelson Replogle, a citizen residing in the state of Tennessee, recorded a payment with Bitcoin to hire a hitman through a web portal, which received the funds and data associated with the potential victim to perpetrate the scheduled crime.

In August 2022, the US Department of Justice announced that a Mississippi woman was sentenced to a maximum of 10 years behind bars for her role in a failed murder-for-hire plot. Jessica Leeann Sledge, 40, pleaded guilty in February to hiring an alleged dark web assassin and paying him in Bitcoin to kill her now ex-husband in Mississippi.

What the discovery of these cases demonstrates is that Bitcoin and Blockchain technology are not the best vehicle to carry out illegal acts, contrary to what many critics and legislators maintain.

However, Bitcoin does provide a certain degree of anonymity, which, combined with other computer techniques, can serve to erase the traces of those who wish to keep their operations with the digital currency secret.

By Marina Meza

Alleged Satoshi Nakamoto May Argue Bitcoin Copyright

Audy Castañeda
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Alleged Satoshi Nakamoto May Argue Bitcoin Copyright

Dr. Craig Steven Wright, who claims to be the inventor of Bitcoin, Satoshi Nakamoto, will present his case in a UK court. Wright has made several attempts to claim ownership of the Bitcoin copyright, including the file format, white paper, and parts of the database. Despite winning a UK case in 2021, Wright’s chances of success remain slim unless he can prove his identity as Satoshi Nakamoto.

A UK court will hear the case of Dr. Craig Steven Wright, who claims to be the inventor of Bitcoin, Satoshi Nakamoto.

The Australian computer scientist argues that the Bitcoin file format should be protected under UK copyright law. He will now have the opportunity to present his case before a judge.

Trying to Claim Bitcoin Copyright

While Dr. Wright continues to insist that he played a role in the founding of Bitcoin, many doubt his claims.

Skeptics point out that the real Satoshi Nakamoto could confirm his identity by providing a verified message with Nakamoto’s PGP key. No verified public message has appeared in this way since 2010.

As of 2019, Wright has made several attempts to claim copyright ownership of the Bitcoin file format, the Bitcoin whitepaper, and parts of the Bitcoin database. However, it has had little success so far. The United States Copyright Office dismissed Wright’s claims, suggesting that no one could copyright Bitcoin.

Craig Wright Has Better Luck in the UK

While he seems to have given up on his attempts in the US, Wright apparently believes that UK copyright law might be more favorable to his cause. And it has had some success in British courts.

In 2021, Wright won a case against the operator of bitcoin.org. The pseudonymous operator known as Cobra was ordered to pay Wright’s legal fees and remove the Bitcoin whitepaper hosted on his website.

However, Wright’s victory was largely symbolic, with the court only finding in his favor by default after Cobra failed to present a defense. Under UK law, defendants cannot make a legal argument anonymously without a court order.

To this day, Nakamoto’s white paper remains freely available at bitcoin.org. It is unknown if Cobra ever paid court-ordered legal costs.

Court Ready to Consider Bitcoin Copyright Claim

In 2022, Wright attempted once again to claim ownership of the Bitcoin copyright. The lawsuit names a list of defendants it identifies as “Bitcoin Core.”

Twenty-five individuals and corporations are listed as collective members that Wright says control the Bitcoin network. These include a number of high-profile Bitcoin developers, as well as companies like Block Inc., Chaincode, and Coinbase.

Initially, Judge Edward James Mellor dismissed the suit, as even under the assumption that the plaintiff is Satoshi Nakamoto, he has not been able to satisfactorily identify a specific “work” that would be the subject of a copyright claim.

However, this week, an appeals court overturned the initial sentence. The case is now expected to go to trial in early 2024. But Wright is still a long way from victory.

Victory Depends on Proving Satoshi Nakamoto’s Identity

Commenting on the appeal ruling, the Bitcoin Legal Defense Fund (BLDF) noted that Wright had won his day in court. But his chances of success are slim unless he can prove he really is Satoshi Nakamoto.

In the words of the BLDF, it is “inconceivable that someone claiming to be the author of an open source program would claim copyright infringement against the people who benefit from its open source license.”

By Audy Castaneda

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