Trumps memecoin pushes crypto in the right direction!
Only time will tell if Donald Trump’s memecoin was a good move in his plan to push crypto during his upcoming US presidential term.
Whether Trumps memecoin pushes crypto in the right direction?
The crypto industry has high hopes that United States President-elect Donald Trump will bolster crypto adoption both in the US and globally. However, only time will tell if his newly launched Solana-based memecoin is a step in the right direction.
Trump’s memecoin, Official Trump (TRUMP), launched on Jan. 17 and has skyrocketed by 10,643%, reaching $27.50 at the time of publication, according to data from the memecoin trading platform Moonshot.
Trump’s memecoin onboarded new users to crypto
It comes just days before Trump is set to be inaugurated as the US president on Jan. 20, with speculation he may even designate crypto as a national priority on his first day in office.
Crypto exchange Swyftx lead analyst Pav Hundal told Cointelegraph that the strong reception of the TRUMP memecoin so far is a good sign, giving the industry a glimpse of what might come during the next four years of the presidential term.
“No-one wants to hear from the bears right now. Trump 2.0 is already a sugar rush and he hasn’t even started his Presidency yet,” Hundal said. He added:
“Solana has just obliterated its previous 24hr decentralised exchange volumes off the back of a Trump meme coin. It’s astonishing.”
The memecoin launch triggered a rally in Solana’s.
SOL price arrived to $271.67! One native token, pushing it to an all-time high of $270.
Although TRUMP has shown how high and quickly demand for crypto can surge, Hundal said that the “true value” of Trump’s presidency will depend on the “long-term environment it creates.”
“Here we are on the verge of sensible regulation,” he said.
Meanwhile, others say while the TRUMP token has attracted many new users to crypto, it could harm the industry in the long run.
It comes after initial doubts surfaced when the token was first announced on Trump’s social media, with some wondering if his account had been hacked.
Scott Melker, aka “The Wolf of All Streets,” said in a Jan. 18 X post that Trump’s memecoin is a significant benefit for crypto but “bad for humanity.” Melker added:
“Donald Trump is likely onboarding millions of new people to the space.”
Moonshot, the platform Trump pointed his followers to for purchasing the memecoin, reported more than 200,000 new onchain users since the token launched.
“It’s a gratuitous cash grab, not sure how anyone can argue against that,” Melker said while pointing out that insiders sniping the supply at launch means they hold 80% of the supply.
“Making billions on vapor,” Melker said.
There have been concerns over the concentration of 80% of the tokens in a single wallet.
Arkham Intelligence said, assuming the wallet belongs to Trump, the memecoin pushed up Trump’s net worth to $22 billion overnight.
On the flip side, others say this is a major positive for token holders.
Crypto advocate Erik Thoughts said in a Jan. 18 X post that if Trump really owns 80% of the supply, it could make the TRUMP token one of the top three “safest coins” to hold.
“The majority of the supply is protected from a rug pull by someone who has a vested interest in the coin doing well,” he said.
It may not be the ‘right direction for crypto’
TradeZella founder Umar Ashraf said he doesn’t believe that Trump, given his position, should have his own memecoin or even be promoting his own memecoin.
“Not the right direction for crypto,” Ashraf said.
How did Donald Trump deal with crypto during his first term?
Moonwell Finance founder Luke Youngblood said it is “bad long term” for the crypto industry.
However, in an open letter to Coinbase CEO Brian Armstrong, Youngblood still said the crypto exchange should list the token.
He argued that Trump supporters will want to buy the token regardless and Coinbase is a more accessible place to trade “where they won’t get scammed.”
The launch of the meme coin coincided with the Trump-honoring “Crypto Ball,” a high-profile event that brought together industry leaders such as Michael Saylor of MicroStrategy, Coinbase CEO Brian Armstrong, the Winklevoss twins of Gemini, and David Sacks, Trump’s crypto and artificial intelligence adviser.
Pepe Coin is a meme-inspired cryptocurrency that was launched to capitalize on the popularity of Pepe the Frog, a well-known internet meme. We will know everything about Pepe Coin today.
What is a Pepe Coin?
Similar to Dogecoin and Shiba Inu, Pepe Coin is a “meme coin,” which basically means that, like all others of its type, the value depends largely on internet trends, social media hype, and the strength of the community behind the given cryptocurrency.
The issue of the coin was the realization of an emerging market for meme-based cryptocurrencies, which many times experience explosive growth in valuation based on viral trends and not usually indicative of fundamental value. Pepe Coin is based on the Ethereum blockchain, a widely used platform supporting smart contracts.
Impact of the Pepe Coin Community
A great part of the appeal of Pepe Coin is the community aspect. The communities are usually very active online through Subreddits, Telegram, and Twitter, where they share memes, predictions, and discussions about the coin in question. Much as a meme goes viral on the internet and draws lots of attention, meme coins like Pepe Coin thrive when the community is highly involved in the support and promotion of the coin.
While many meme coins are considered speculative investments, they are a fun way to engage in digital assets and internet culture too. This aspect of humor and community building keeps the value of meme coins fluctuating in unpredictable ways.
Frog Pepe (The Controversial Meme of the Internet)
What is the Origin of Frog Pepe? Frog Pepe was created in 2005 for the comic series known as Boys Club by the artist Matt Furie. At the time of creation, Pepe was a character that was a laid-back frog with the famous line “feels good man.” It reached peak popularity during the early 2010s and made him one of the most recognizable memes on the internet.
But as the meme took hold, Pepe was co-opted by various online subcultures for a variety of uses, and the character became a symbol of everything from white nationalism to libertarianism and anarchism. Eventually, extremist groups began using the meme, and the character took on a controversial, even polarizing reputation.
Pepe Unleashed(Frog Pepe Meme Tries to Evolve)
Frog Pepe came into the world in 2005, an endearing doodle by artist Matt Furie within his comic book series Boys Club. The lovable frog just wanted to smoke cigarettes and enjoyed saying “feels good man.”
In the years that followed, however, Pepe was co-opted by sundry internet tribes and started showing up in disparate forms to describe a wide range of emotions and reactions.
Dark Pepe
As Frog Pepe gained more and more popularity, he was adopted by several extremist groups of people online that started using the character as one of their symbols. Thereafter, he became an element of controversy, as Pepe had relations with hate speech and other ideologies.
Matt Furie, the creator, disheartened by how his character was being used, launched the #SavePepe campaign in 2016 to reclaim the character’s original, innocent meaning. Pepe Unchained can be seen as part of this larger effort to restore the frog’s positive image and return it to its lighthearted roots.
Such huge popularity for the meme naturally presupposes its further development in a variety of forms. “Pepe Unchained” expresses both the release of the character from its infamous history and its continued usage in positive and humorous ways.
This reclaiming of Pepe is an ongoing movement; Matt Furie and other supporters are working to remind people that, no matter what happened with Pepe’s appropriation by racists, it was originally a fun, relatable internet character.
Why Pepe Became a Meme
Frog Pepe had become one of the most versatile and usable memes on the internet because of its simplicity and expressiveness.
The wide range of emotional expression the character has-from happiness to sadness to anger-made him perfect for a variety of meme formats. Be it to reply to some social situation, an internet trend, or even a form of political commentary, Pepe became an iconic image which people could modify and adapt to their own needs.
The meme quickly spread to other platforms, including Reddit, 4chan, Twitter, and Instagram, with users creating variations of the frog to suit different contexts. This adaptability gave Pepe staying power, even when newer memes emerged.
The Cultural Impact of Pepe
The “memeification” of Pepe is part of the larger phenomenon of meme culture, which has become central to online interaction and communication. Pepe’s expressive nature makes it one of the most recognizable and enduring symbols of internet culture, and its use continues to shape how people express humor, frustration, or commentary on social issues.
Age Pepe(The Longevity of Pepe)
Frog Pepe is ageless as a meme. Although his creation originally took place in 2005, his rise to meme fame began most prominently around 2008-2009 and has stretched into the 2020s. Memes are usually short-lived; they live briefly and die. Pepe, on the other hand, has stayed relevant thanks to continuous creativity from the internet that keeps reinventing and adapting it.
From the original “feels good man” image to newer forms like “sad Pepe” and “angry Pepe,” the meme has evolved but remained instantly recognizable. In meme terms, Pepe is considered “eternal,” a symbol that can transcend trends and stand the test of time. Its continued relevance in online culture is a testament to the flexibility and creativity of the internet.
Reclaiming Frog Pepe
Its creator, Matt Furie, has struggled to reclaim Pepe into his originally non-political image. In 2016, Furie launched the #SavePepe campaign, fighting back against the negative associations now surrounding the meme. Yet, he tries to bring Pepe back to his roots as a fun and harmless meme, Pepe is still one of the strong symbols of internet culture.
Pepe USD (Pepe Stablecoin)
Stablecoins are a class of cryptocurrency that is meant to hold a fixed value, generally pegged onto an asset such as the United States Dollar. Pepe USD is a possible stablecoin made using the popular meme or character known as Pepe for its branding.
What is Pepe USD?
If Pepe USD were to be a stablecoin, its core function would likely involve offering a stable cryptocurrency option to traders, investors, and crypto enthusiasts. The value of Pepe USD would stay close to one US Dollar or another fiat currency, forming a secure and predictable base for wider crypto-ecosystem transactions.
How Stablecoins Work
In general, the backing for a stablecoin is done by means of reserves in other assets, such as fiat currencies or commodities. Two of the most famous examples of stablecoins are Tether and USD Coin; both of these are pegged to the US Dollar.
This would place Pepe USD in the mold of wanting to be one of the most liquid, highly stable cryptocurrencies to make everyday transactions and even trading on exchanges smoother without exposure to the heavy price swings that classic cryptocurrencies like Bitcoin or Ethereum can exhibit.
Pepe USD Use Cases
• Hedging Against Volatility: Pepe USD would be used by investors in cryptocurrencies to defend their portfolios against market up-and-down eventualities.
• Remittances and transactions: Low-fee and fast transaction speeds, compared to traditional banking methods, make Pepe USD and other stablecoins very popular for cross-border payments.
• DeFi integration: Stablecoins also form a significant part of DeFi applications where lending, borrowing, and staking are performed in a decentralized manner.
Stablecoin Risks
Where stablecoins, to a large extent, such as Pepe USD, may be stable, there is still a sort of risk associated with their use. Probably one of the biggest challenges pertains to regulatory concerns since authorities worldwide are beginning to look more closely at how stablecoins are issued and maintained.
Furthermore, the stability of Pepe USD will depend on the trust and backing that it gets. If the reserves used to back Pepe USD are not fully transparent or secure, that could be an avenue through which volatility enters.
Pepe Coin Price and Market Trends
Like most meme-based cryptocurrencies, Pepe Coin is highly volatile in price. Meme coins are known to fluctuate in price based on internet cultural trends, celebrity endorsements, or just a viral moment. As of January 2025, Pepe Coin has already seen periods of rapid appreciation and significant corrections. This often happens with meme coins, which frequently rise or fall as part of social media rather than traditional financial metrics.
Pepe Coin Price Predictions
With a high level of difficulty in making any reasonably accurate predictions, the future price of Pepe Coin may further appreciated as long as the meme culture around it remains strong, according to some analysts and enthusiasts. Others are more cautious, indicating that meme coins are speculative investments that can crash just as easily when people lose interest.
It is, therefore, very important for investors who are exposed to meme coins, like the Pepe Coin, to understand the risks involved. Given that meme coins are not ultimately backed by hard assets or strong fundamentals, their value usually rests on community enthusiasm and viral momentum.
Pepe coin Market Cap
Pepe coin Market Cap is the market capitalization of the Pepe cryptocurrency. In the fast-growing world of cryptocurrency, the term Pepe Coin has become a big hit in the meme coin category.
A viral internet meme character, Frog Pepe, is the namesake of this coin and has captured digital finance attention, riding the coattails of the popularity of meme coins such as Dogecoin and Shiba Inu.
Market Capitalization of Pepe Coin
Market capitalization is the value of this cryptocurrency in the market. The market capitalization is arrived at by multiplying the total circulating supply of the coins by the current price per coin. Due to its meme origins, PepeCoin has widely fluctuated in value.
At its height, Pepe Coin reached market capitalization of billions of dollars, although valuations could always change highly. Meme coins usually see their prices surge very fast and then quickly drop, based on trends on social media, celebrity endorsements, or viral moments.
One of the more defining features of Pepe Coin is that most of its value resides in the internet culture and community that rallies around it. Crypto investors may purchase the Pepe Coin in hopes that it will rise in value with more buy-ins into the meme. But it comes with considerable risk. It will fall just as quickly as it went up, especially if community interest fizzles or if overall market conditions hurt the wider landscape of cryptocurrencies.
Pepe Coin Investor Warning
While the Pepe Coin might now look very attractive in the market hype, potential investors should always remember that investment in meme coins is highly risky. It is important to research the token and understand its volatility to assess if it fits within a diversified investment strategy. Meme coins like Pepe Coin can be highly speculative without fundamental value to back them up.
Tether files lawsuit against Swan Bitcoin over joint venture dispute!
Stablecoin issuer Tether has filed a lawsuit against Bitcoin financial services company Swan Bitcoin, accusing the firm of “significant breaches” in their agreements.
In a statement to Cointelegraph on Jan. 15, Tether, along with co-claimant 2040 Energy, confirmed the legal action against Swan Bitcoin.
The firm stated:
“Throughout our relationship with Swan, Tether has consistently acted in good faith, supported mutual business objectives, and adhered to all relevant agreements,” Tether said. “Conversely, Swan has acted recklessly, and their actions have resulted in significant breaches by them of the agreements between us. Consequently, we have been compelled to take necessary measures to protect our investment.”
The case filed in the High Court of England and Wales escalates an ongoing legal battle between the two companies.
Swan and Tether established 2040 Energy in 2022 as a joint Bitcoin mining venture. Under the partnership, Tether provided funding while Swan handled operations, according to Swan Bitcoin filings.
Swan Bitcoin alleged that former employees from its mining arm stole proprietary information, including software code and business strategies, to form a rival company called Proton Management.
Swan described the employees’ actions as part of a scheme labeled “rain and hellfire,” designed to sabotage Swan’s role in the joint venture.
The company claimed that key personnel carried out this plan, including Michael Holmes, its former head of business development, and Raphael Zagury, its ex-chief investment officer and mining head, who now serves as Proton’s CEO.
Swan accused Proton of misusing its confidential trade secrets to establish itself as a direct competitor, which it argued had “irreparably harmed Swan’s ability to compete in the market.”
According to court filings, Proton Management allegedly convinced Tether to cut ties with Swan and back Proton in the mining venture instead.
On Aug. 12, 2024, Swan CEO Cory Klippsten was removed as the CEO of 2040 Energy, and Proton officially took over the operational and administrative functions of the mining operations, per the complaint.
Swan Bitcoin also accused Tether of facilitating what it described as a “hostile takeover” of its mining operations.
Tether has denied any wrongdoing, asserting that it acted by its contractual rights under the joint venture agreement. In a statement to Cointelegraph on Sept. 27, 2024, Tether 2024, said:
“Tether is aware of recent allegations made in a lawsuit that mentions a subsidiary of Tether dedicated to proprietary mining and other investments. While Tether is not a named defendant in the case, we have taken note of the claims and deny any implications of wrongdoing”
Swan Bitcoin also launched legal action against its law firm, Gibson, Dunn & Crutcher, in November 2024, accusing it of malpractice.
The company claimed the firm abandoned its case against Proton after taking on Tether as a client, violating attorney ethics rules prohibiting dropping a client to avoid conflicts of interest.
Klippsten described Gibson’s move as a betrayal. “Swan was blindsided,” Klippsten said, arguing that the firm’s decision caused significant damage to Swan’s mining business.
Swan Bitcoin did not respond to Cointelegraph’s request to comment by the time of publication. Read more at cointelegraph.com.
U.S. Judges Demand SEC ‘Explain Itself’ for Rebuffing Requests for Crypto Rules!
In another 11th-hour court loss for Chair Gary Gensler’s tenure, judges in a Coinbase case again call the SEC’s crypto position “arbitrary and capricious.”
The U.S. Securities and Exchange Commission is now under a federal court order to offer a full explanation for why the agency refused to offer clear rules for crypto securities.
The circuit court’s demand comes in the final week of Chair Gary Gensler’s tenure, likely leaving the response to his Republican successor, who is already expected to change the regulator’s stance on digital assets.
U.S. Judges Demand SEC ‘Explain Itself’ for Rebuffing Requests for Crypto Rules
A three-judge panel for the U.S. Court of Appeals for the Third Circuit, in a legal rebuke of the securities regulator, partially sided with Coinbase’s effort to get the agency to offer legal clarity by writing crypto regulations.
“Rather than force the agency to make a rule, we order it to explain its decision not to,” one of the judges wrote. “Indeed, a rule may not prove necessary to solve the notice problems here; the agency could just state its position on crypto assets unequivocally.”
Judge Stephanos Bibas added a caution to the SEC: “It should not give yet another poor explanation in an already-long line of them.”
The legal blow for the agency — the second setback in a Coinbase-related case in less than a week — could leave an opening for its new leadership. Chair Gary Gensler, the architect of the SEC’s crypto enforcement-heavy approach in recent years, is stepping down as President-elect Donald Trump is sworn in on January 20. Trump’s chosen replacement, former Commissioner Paul Atkins, could have a chance to use this court demand to answer that, yes, his agency will change its course on crypto oversight.
Or, even sooner, an acting chairman such as sitting Commissioner Mark Uyeda, one of the agency’s two current Republican members, could be in a position to get that ball rolling while Atkins awaits a Senate confirmation process.
The Monday ruling called the SEC’s crypto actions “arbitrary and capricious,” echoing language from the D.C. Circuit Court of Appeals when it rejected the agency’s opposition to Grayscale’s application for a spot bitcoin (BTC) exchange-traded fund (ETF).
“Because we believe the SEC’s order was conclusory and insufficiently reasoned, and thus arbitrary and capricious, we grant Coinbase’s petition in part and remand to the SEC for a more complete explanation,” the judges ruled in this case. However, the circuit court didn’t believe Coinbase’s arguments justified a clear need to demand new rules from the regulator.
“We’re reviewing the decision and will determine next steps as appropriate,” a spokesperson for the SEC said in response to a request for comment.
“We appreciate the court’s careful consideration,” said Coinbase Chief Legal Officer Paul Grewal, posting on social media site X. His company’s pursuit of this petition with the SEC is one of several court battles Coinbase has been waging with the agency, including its defense against an SEC enforcement action.
Last week, a federal court granted the exchange’s effort to accelerate a key legal question in that case to an appeals court. Read more at coindesk.com.
NY Attorney General files lawsuit to recoup $2.2M in crypto lost to job scam!
New York Attorney General Letitia James has initiated legal action to recover more than $2 million in cryptocurrency swindled from victims who were duped into buying crypto under the false promise of securing remote work opportunities.
“Scammers sent text messages to New Yorkers promising them good-paying, flexible jobs only to trick them into purchasing cryptocurrency and then stealing it from them,” James said in a Jan. 9 statement.
Victims deceived into fake remote jobs as product reviewers
The scammers tricked victims with payment promises, telling them to create crypto accounts, deposit funds, and review products on fake websites that looked like legitimate brands.
Victims were told to keep a crypto balance that matches or exceeds the cost of the products they reviewed. They were promised “they were not purchasing the products” and that their money was only needed to help “legitimize” the data.
In return, they were assured they’d get their money back plus a commission, but they never received a cent.
With assistance from the US Secret Service, James said that the stolen crypto has been frozen and urges people to be cautious of text messages from unknown senders claiming to offer jobs or other opportunities.
“Deceiving New Yorkers looking to take on remote work and earn money to support their families is cruel and unacceptable,” James said.
FBI’s warning last year about work-from-home job scams
It comes only months after the US Federal Bureau of Investigation (FBI) warned of a rise in work-from-home job advertisement scams in June 2024.
The FBI said that scammers were contacting potential victims with unsolicited calls or messages, offering a relatively simple job such as rating restaurants or “optimizing” a service by repeatedly clicking a button.
Similarly, the FBI said that victims were instructed to make crypto payments to the fake employer to “unlock” more work, but the payments went directly to the scammer.
“You are directed to make cryptocurrency payments to your employer as part of a job,” the FBI said. Read more cointelegraph.com.
XRP ETF Expected To Come ‘Very Soon’, Says Ripple President!
In a recent interview with Bloomberg Crypto, Ripple President Monica Long expressed strong optimism about the imminent approval of a spot XRP exchange-traded fund (ETF) in the United States. Long also provided insights into the expansion of Ripple’s new RLUSD stablecoin, which she believes will see major adoption in the coming months.
Ripple’s RLUSD Set For Broader Distribution
Currently, RLUSD is listed on Bitso, MoonPay, and CoinMina, with additional listings in progress on platforms like Bullish and MercadoBitcoin. Asked about availability on larger US-based exchanges such as Coinbase, Long stated: “We are continuing to expand distribution and availability of Ripple dollars on other exchanges. So I think you can expect to see more availability, more announcements coming soon.”
When pressed for a timeline, she emphasized: “Imminently.” Long highlighted the growing role stablecoins play in both trading and payments, describing them as “the way to on-ramp and off-ramp” in crypto. According to Long: “If we look at the crypto landscape overall, it has certainly been growing in the past couple quarters. We think this year is going to be a big year for crypto overall. And so demand for stablecoins, we think, will grow along with that. […] Ripple US dollar will have a premium role.”
Since launching on Ethereum and the XRP Ledger in December, RLUSD has reached a market capitalization of around $53 million. Ripple has integrated Chainlink services into RLUSD to enhance its utility in decentralized finance (DeFi) protocols, further supporting Long’s vision for widespread adoption.
XRP ETF Expected To Come Very Soon
In addition to RLUSD, Long addressed the prospect of an ETF, predicting a relatively short runway for regulatory approval: “I think we will see one very soon. I think that we will see more, you know, various crypto spot ETFs this year coming out of the US. And I think XRP is likely to be next in line after Bitcoin and ETH.”
She noted that various asset managers—including Canary Capital, WisdomTree, 21Shares, and others—have already filed for XRP ETFs. Pointing to a more favorable regulatory environment, Long added: “There’s already been a number of different companies like Canary and others who have filed. And so we think especially with the administration change and that the approvals of those filings will accelerate.”
In October, Bitwise filed a registration statement (Form S-1) with the U.S. Securities and Exchange Commission (SEC) for an XRP ETF. Since then, multiple firms have submitted applications, but the SEC has yet to make a decision.
Long revealed that Ripple’s payments business doubled last year, indicating strong institutional and corporate demand for its solutions. She also cited an “especially big” close to 2024 for Ripple’s US business, noting that the company signed more local deals in the last six weeks of that year than in the previous six months.
Speculation has mounted that the Trump administration’s crypto-friendly posture could speed up approvals of crypto ETFs. XRP prices have surged over 350% since Trump’s election victory, outperforming many other major cryptocurrencies during the same period.
At press time, XRP traded at $2.31. Read more on bitcoinist.com.
Texas court orders Bitcoin investor to disclose $124 million in crypto keys!
Frank Richard Ahlgren III, an early adopter of Bitcoin (BTC), has been directed by a Texas court to relinquish access to his crypto wallets, BNN Bloomberg reported on Jan. 7.
According to the report, Ahlgren was ordered to provide the private keys, seed phrases, and any devices used to store his digital assets. This comes as part of legal proceedings tied to tax evasion charges.
Judge Robert Pitman also restricted Ahlgren’s close associates from transferring or reducing the value of his crypto holdings without court approval. Only essential monthly living expenses are exempted from this restriction.
The crime
Ahlgren entered the Bitcoin space in 2011 but gained regulatory attention for activities starting in 2015. That year, he purchased approximately 1,366 BTC through Coinbase when Bitcoin’s peak price was around $495.
By 2017, he sold 640 BTC for $3.7 million, using most of the proceeds to buy a property in Park City, Utah. However, he falsified his tax returns by claiming exaggerated purchase prices far above market value.
In 2018 and 2019, Ahlgren sold additional Bitcoin worth over $650,000 but failed to disclose these transactions to the IRS.
Furthermore, he employed techniques like transferring funds through multiple wallets, using cash exchanges, and leveraging Bitcoin mixers to obfuscate his transactions.
In September 2024, Ahlgren pleaded guilty to the charges and received a two-year prison sentence. Following his release, he will also face a one-year period of supervised monitoring and pay restitution of $1 million.
Legal implications
The case highlights significant legal risks for crypto investors. Bill Hughes, an attorney with blockchain firm Consensys, remarked that while self-custody empowers users, governments retain the authority to seize digital assets for tax violations.
He stressed the importance of adhering to tax laws, warning that failure could lead to severe consequences, including asset forfeiture and imprisonment.
Acting Special Agent Lucy Tan of the IRS Criminal Investigation echoed this sentiment. She noted that the allure of crypto’s high value often tempts individuals to evade taxes. However, the penalties are clear, as non-compliance can result in federal prison.
She added:
“Ahlgren will serve time because he believed his cryptocurrency transactions were untraceable. This case demonstrates that no one is above the law.” read more on cryptoslate.com.
What are Elon Musk crypto coins? Elon Musk is arguably the most outspoken CEO of Tesla and SpaceX, and the owner of X, formerly known as Twitter. He has been one of the most discussed individuals in the cryptocurrency space.
His influence on the market does not come from his investments but also from his public statements, memes, and tweets. Here’s a detailed overview of his involvement with cryptocurrencies.
Elon Musk crypto coins name
Musk has publicly declared his ownership in some cryptocurrencies, Elon Musk crypto coins name:
1. Bitcoin (BTC)
Elon Musk first showed his interest in Bitcoin in 2019, saying he was the owner of a 0.25 BTC present from a friend. He then called Bitcoin “quite brilliant” but wasn’t actively trading or investing in it.
In February 2021, Tesla revealed its purchase of $1.5 billion in Bitcoin, an unprecedented corporate endorsement. Musk said later that he and Tesla each owned Bitcoin, which again surged the coin’s price.
2. Ethereum (ETH)
In 2021, Musk said he was also holding Ethereum, which he purchased personally. As with most cryptos, except Bitcoin and Dogecoin, he has not talked much about Ethereum publicly, but to have it in his portfolio shows he believes in its long-term potential.
3. Dogecoin (DOGE)
Among all cryptocurrencies, Musk is most famously associated with Dogecoin. He once joked that he was the “Dogefather,” and his frequent tweets about Dogecoin often result in surges of the cryptocurrency.
In 2021, Musk confirmed Dogecoin as one of his personal holdings in a disclosure alongside Bitcoin and Ethereum. He once said he thinks Dogecoin has potential as a medium of exchange, using it to illustrate the lower transaction fees than Bitcoin.
Musk has been involved in projects that boost the adoption of Dogecoin and another Elon Musk crypto coins, such as making Tesla merchandise available for purchase with Dogecoin.
Musk’s Corporate Crypto Involvement
1. Tesla Crypto Activity
Tesla invested in Bitcoin earlier in 2021 and also briefly accepted the asset as a mode of payment for its vehicles before reneging on the offer due to concerns over environmental damage from mining activities of Bitcoin.
Tesla has not sold any of its Bitcoin, making it one of the few publicly traded companies with significant exposure to crypto.
2. SpaceX
Musk said that SpaceX also owns Bitcoin, but the number is not disclosed. Like Tesla, SpaceX has not ventured into other cryptocurrencies.
3. X (formerly Twitter)
After acquiring Twitter in 2022, there were speculations on the integration of cryptocurrencies into the platform, especially Dogecoin. As no such integration has happened yet, it was Musk’s influence that kept the rumors alive.
Elon Musk’s Stance on Issuing a Crypto Coin
Though Musk is able to move the market with his tweets, he has always made it known that he won’t issue a personal cryptocurrency token. Indeed, he has said numerous times that he and his companies-Tesla, SpaceX, and X-won’t be releasing a token. Nearly every time he sees scams and other fraudulent projects using his name, he makes this statement.
Market Impact and Controversy
Musk’s tweets and statements have had a massive impact on Elon Musk crypto coins prices. For example:
Bitcoin: When he announced Tesla’s purchase of Bitcoin, the price surged; then, when he later criticized Bitcoin’s environmental impact, the price sharply fell.
Dogecoin: Musk’s tweets about Dogecoin have resulted in wild swings in its price. For example, when Musk tweeted, “Dogecoin is the people’s crypto,” the price of the cryptocurrency surged.
Lawsuits: Musk’s influence has also drawn legal scrutiny. In 2022, he was sued for $258 billion over claims that his promotion of Dogecoin constituted market manipulation. Musk has denied those allegations.
The Elon Musk Coin Myth
All manner of scams and fake tokens have attempted to prey on Musk’s name. “ElonCoin” and “MuskCoin” have come up on the radar on multiple exchanges, though none is directly associated with him. He has warned his followers not to fall into their trap.
Community Opinions and Comments about Elon Musk crypto coins
Opinions among the cryptocurrency community concerning Musk remain mixed:
Fans: Many look up to him as a visionary because he attracts the masses into crypto, including Dogecoin.
Criticism: Others criticize his unpredictability and the market volatility his tweets can cause.
A Reddit user aptly summarized the sentiment: “Elon Musk is a double-edged sword for crypto. His tweets can create a bull run or a crash. While he’s put Dogecoin on the map, his actions sometimes feel impulsive.”
Predicting the future price of cryptocurrencies associated with Elon Musk, such as Bitcoin (BTC), Ethereum (ETH), and especially Dogecoin (DOGE), is difficult because the market is highly speculative and Musk’s influence is unpredictable.
However, certain trends and factors can provide some insight into the potential price of Elon Musk crypto coins movements.
Bitcoin (BTC) Predictions
Musk’s Impact on Bitcoin
Musk’s companies, Tesla and SpaceX, both hold Bitcoin, and his decisions regarding these holdings can impact its price. For example, Tesla’s $1.5 billion Bitcoin purchase in 2021 triggered a significant rally.
If Tesla resumes accepting Bitcoin for payments or announces further investments, the price could surge.
2. General Market Trends
Bitcoin remains the leading cryptocurrency and is influenced by macroeconomic factors like inflation, regulatory changes, and institutional adoption. Musk’s endorsement, coupled with increasing adoption, could stabilize Bitcoin as a store of value.
By 2025, Bitcoin could trade in the range of $40,000 to $100,000, depending on broader market adoption and Musk’s continued support.
Ethereum (ETH) Predictions
1-Musk’s Role with Ethereum
While Musk has disclosed owning Ethereum, he has not actively promoted it as he has Dogecoin. Ethereum’s growth is more tied to its technological advancements, such as Ethereum 2.0 and the adoption of smart contracts.
2. Potential Growth Factors
The rise of decentralized finance (DeFi) and non-fungible tokens (NFTs) will likely increase demand for Ethereum. Musk’s influence here may be minimal unless he begins actively promoting Ethereum-based projects.
Ethereum could reach $5,000 to $10,000 by 2025 if DeFi and NFTs continue to grow.
Dogecoin (DOGE) Predictions
1. Musk’s Influence on Dogecoin
Dogecoin’s price is highly correlated with Musk’s actions and statements. For example, his tweets like “Dogecoin to the moon” have historically caused sharp price spikes.
Musk’s integration of Dogecoin into Tesla merchandise purchases and potential integration into X (formerly Twitter) could drive demand.
2. Mainstream Adoption
If Dogecoin gains broader utility as a payment method, especially through platforms owned by Musk, its value could stabilize and grow.
However, Dogecoin’s inflationary nature (unlimited supply) may cap its long-term price growth.
Dogecoin could range from $0.10 to $0.50 by 2025, with the upper end relying heavily on Musk’s continued promotion and practical use cases.
Key Risks and Factors to Watch
1. Regulation: Increased regulatory scrutiny of cryptocurrencies may dull their growth. Musk’s influence could also attract regulators to Dogecoin or other coins that he supports.
2. Musk’s Changing Interests: Musk is known for his changing interests. If he becomes less engaged with crypto, that may hurt Dogecoin and, possibly, Ethereum.
3. Market Sentiment: Cryptocurrencies are highly speculative, and market sentiment can change rapidly. Musk’s influence could either amplify positive trends or worsen downturns.
General Outlook Elon Musk crypto coins
Elon Musk’s continued involvement in cryptocurrencies will likely keep him a significant market influencer. However, the sustainability of his impact depends on tangible developments such as:
• Broader adoption of cryptocurrencies as payment methods.
• Integration into Musk’s ventures like Tesla, SpaceX, or X.
• Avoidance of regulatory crackdowns tied to his influence.
Caution is that, as much as Musk might move prices in the very short term, long-term investments should be made based on the fundamental value of the cryptocurrency, not by the influence of Musk. Diversification and risk assessment are two important things when it comes to investing in Musk-associated cryptocurrencies.
Crypto Elon Musk owns
Elon Musk has to be among the most influential people in the world of cryptocurrency. While he does not own or endorse an “Elon Musk coin,” his public statements about Bitcoin, Ethereum, and Dogecoin have greatly influenced their popularity and adoption.
On the other hand, his involvement comes with benefits and risks because his unpredictable nature could result in extreme market swings.
MicroStrategy, KULR, Metaplanet Hoard Bitcoin as Prices Soar Past $100K!
As Bitcoin (BTC) hovered above the $100,000 mark, major players like MicroStrategy, KULR Technology Group, and Metaplanet increased their holdings, further fueling the asset’s upward trajectory.
MicroStrategy Increases Bitcoin Holdings
MicroStrategy continues strengthening its position as the leading institutional Bitcoin holder, adding 1,070 BTC to its treasury, investing approximately $101 million at an average price of $94,004 per BTC.
The latest purchase has already yielded a profit, underscoring MicroStrategy’s enduring confidence in Bitcoin’s long-term potential.
Hoard Bitcoin as Prices Soar Past
Additionally, in Q4 2024, MicroStrategy reported an impressive BTC yield of 48.0%, contributing to an overall yield of 74.3% for the fiscal year 2024.
As of Jan. 7, 2025, MicroStrategy holds 447,470 BTC, acquired at approximately $27.97 billion, averaging $62,503 per Bitcoin. See chart in the source.
KULR $21 Million Bitcoin Investment
KULR Technology Group has increased its Bitcoin acquisitions by an additional $21 million, bringing the total to $42 million.
The recent purchases were made at a weighted average price of $98,393.58 per Bitcoin, including all associated fees and expenses.
This strategic move reflects KULR’s alignment with its Bitcoin Tre
asury Strategy, introduced on Dec. 4, 2024.
This strategy dedicates up to 90% of the company’s surplus cash reserves to Bitcoin.
From its initial Bitcoin acquisition in December 2024 through Jan. 4, 2025, KULR achieved a BTC Yield of 93.7%, supported by surplus cash and funding through its At-The-Market (ATM) equity program.
Metaplanet 10,000 BTC Goal
On Jan. 6, Metaplanet completed its ¥9.5 billion ($66 million) financing plan to fund its Bitcoin purchases for 2025.
Metaplanet CEO Simon Gerovich announced plans to expand the company’s Bitcoin reserves to 10,000 BTC.
Gerovich described 2024 as “transformational,” highlighting the expansion of its Bitcoin treasury and its growing position as a leading BTC treasury holder in Asia.
Since its first purchase in 2024, Metaplanet has regularly acquired BTC, reaching 1,762 BTC.
Beyond financial gains, Metaplanet seeks to promote Bitcoin adoption in Japan and globally in 2025.
Since late April 2024, Metaplanet’s stock has surged more than tenfold, rising from around $1.90 to $22.05. However, the price remains far below the February 2013 peak of nearly $2,500.
Vitalik Buterin floats ‘soft pause’ on compute in case of sudden risky AI!
Ethereum co-founder Vitalik Buterin says a temporary “pause” to worldwide available compute could be a way to “buy more time for humanity” in case of a possibly harmful form of AI superintelligence.
In a Jan. 5 blog post following up his November 2023 post advocating the idea of “defensive accelerationism” or d/acc, Buterin said super intelligent AI could be as little as five years away — and there’s no telling the outcome would be positive.
Vitalik Buterin floats ‘soft pause’ on compute in case of sudden risky AI
Buterin says a “soft pause” on industrial-scale computer hardware could be an option to slow AI development if this happens — reducing global available compute power by up to 99% for 1 to 2 years “to buy more time for humanity to prepare.”
A superintelligence is a theoretical AI model that is typically defined as being far more intelligent than the smartest humans in all fields of expertise.
Many tech executives and researchers have aired concerns about AI, with over 2,600 urging in a March 2023 open letter to halt AI development due to “profound risks to society and humanity.”
Buterin noted that his post introducing d/acc only made “vague appeals to not build risky forms of superintelligence” and wanted to share his thoughts on how to address the scenario “where AI risk is high.”
However, Buterin said he’d only push for a hardware soft pause if he was “convinced that we need something more ‘muscular’ than liability rules,” — which would mean those who use, deploy or develop AI could be sued for damages caused by the model.
He noted proposals for a hardware pause include finding the location of AI chips and requiring their registration but proposed that industrial-scale AI hardware could be fitted with a chip that only allows it to continue running if it gets a trio of signatures once a week from major international bodies.
“The signatures would be device-independent (if desired, we could even require a zero-knowledge proof that they were published on a blockchain), so it would be all-or-nothing,” Buterin wrote. “There would be no practical way to authorize one device to keep running without authorizing all other devices.”
The d/acc idea supported by Buterin advocates for a careful approach to developing technology in contrast to effective accelerationism or e/acc, which pushes for unrestricted and unbridled tech changes. Source…
