Many people are curious about the owner of the Dogecoin account worth 12 billion USD – Photo: iStock. The story behind the man who owns the world’s largest Dogecoin virtual currency account is probably not as attractive as the story of investors on social networks like Elon Musk or his fans. However, since the beginning of the year, with the price of Dogecoin increasing by more than 100%, the account value has reached 12 billion USD, making many people curious about its owner. According to Business Insider, this Dogecoin “shark” account has the address DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L, owning a total of 36.7 billion Dogecoins since 2019, equivalent to 28% of the total number of Dogecoins in circulation. Many analysts and investors began to dissect who is behind this “huge” virtual currency account. Some people even send a small amount of Dogecoin to the above “shark” account to try to find out the identity of the owner. “The above account could be linked to a cryptocurrency exchange,” said Patrick Lodder, a core developer of Dogecoin. Working for the Dogecoin project since 2014, Lodder said that anyone can send Dogecoin coins to a public account, but the amount deposited into an account cannot be a “clue” for identification. account holder, unless it is an extremely large amount. Buying Dogecoin since 2019, the above “shark” account is rarely sold. The last sale was 100 million Dogecoin in April 2021 and is also the only sale this year. Based on this information, CoinDesk’s director of research suggested that the account must be owned by an individual, not a transaction. In response to this information, Lodder said it could be a cold wallet of an exchange. “An exchange that manages a lot of Dogecoin might not keep it on a server but store it offline – on a cold wallet, for example. This explains why there are not many sales from this account. With such a high value virtual currency account, it is safer to store it in a cold wallet,” Lodder analyzed. Lodder said the only way to determine for sure who the account owner is is for the person to speak up and present evidence, but this is a risky job if you look at the “terrible” account value. “above. On social networks, countless speculations about the owner of the above account. Following the data on the blockchain, an account on the news site Reddit hypothesized that this “shark” address could be one of the cold wallets of Robinhood – the famous free-to-use stock exchange. in U.S.A. This theory is agreed by more than 4,000 people in the Reddit community. However, many others believe that this account may belong to “Dogecoin father” Elon Musk. Like many other cryptocurrencies, Dogecoin is a decentralized currency, not managed by an authority or entity. This makes it more secure and less vulnerable to change by any entity. However, this also creates rumors of lack of control and endangers the coin. “Rumours of ‘sharks’ selling Dogecoins can scare investors into selling,” Lodder said. Dogecoin was born in 2013 as a satire to the crazy craze of virtual currency and was designed with the design concept from the famous “Doge” trend on the Internet. Dogecoin was not originally created as a means of payment but simply as a joke. However, this virtual currency is still bought and sold on virtual currency exchanges. Dogecoin often increases in price when it is promoted by famous individuals on social networks. In early 2021, Dogecoin was only $0.004, even when Bitcoin – the largest virtual currency on the market – skyrocketed to nearly $30,000. In early May, this virtual currency set a record of $0.718/Dogecoin.

Elon Musk declares allegiance to Dogecoin (Image: WCCFTech) Elon Musk declared his allegiance to Dogecoin causing its value to increase by 15% during this crypto volatility. The billionaire American businessman responded to a Twitter thread speculating about his Dogecoin holdings with the message: “I have not and will not sell any Dogecoins.” This move of Elon Musk immediately caused Dogecoin to increase in value after many days of falling. Earlier, the CEO of Tesla and SpaceX posted on Twitter a photo of a laptop with a $1 bill sticker on it with the caption: “How many Doge’s in the window.” If you look closely, you can see that this bill has a picture of a Shiba Inu dog, the symbol of Dogecoin, in place of President George Washington. Elon Musk’s post on Twitter (Image: Twitter) This is the second time this week that Elon Musk has publicly expressed support for cryptocurrencies, after making an announcement on Twitter that Tesla would hold onto its Bitcoins as the market shows signs of a market crash. Earlier, Elon Musk faced criticism from social media users when some suggested that he sold his Bitcoins when its price peaked in the market. Elon Musk responded by tweeting that the electric car company has a “Diamond Hand,” referring to traders who hold stocks when prices fall with the goal of making long-term profits. The drop in cryptocurrency value over the past few days is said to have started after Elon Musk posted an announcement saying that Tesla was temporarily suspending Bitcoin as payment for its car orders, due to concerns about the risk of loss of money. Bitcoin mining will have a bad effect on the environment. Since then, however, he has repeatedly said that the company will keep its Bitcoins and will allow the use of the cryptocurrency to trade again when mining becomes more stable. Elon Musk announced that he will not sell Tesla’s Bitcoin (Image: Twitter) According to the Cambridge Center for Alternative Finance, the Bitcoin industry’s annual energy consumption is on par with that of a country the size of Malaysia. And most of the mining is located in regions of China, where electricity is produced cheaply by coal-fired power plants. Tesla bought $1.5 billion worth of Bitcoin at the end of 2020 when the price of each Bitcoin was below $20,000 and sold 10% in early 2021 when the price of this virtual currency reached $50,000/Bitcoin, earning on a profit of 101 million USD.

The price of Dogecoin plummeted right after the show featuring Elon Musk started. Photo: Coindesk. However, when Musk didn’t show up, the price of Dogecoin plummeted. According to the data of Coinmarketcap , from nearly 0.7 USD, Dogecoin dropped to more than 0.5 USD after more than 30 minutes of the program. The market capitalization of this coin dropped from $90 billion to just $68 billion after 1 hour, more than $150 million of leveraged investors was blown away. As expected by many, Elon Musk mentioned Dogecoin in the middle of the show. “Recently, the prices of many cryptocurrencies have increased, such as Bitcoin, Ethereum, and especially Dogecoin,” replied Elon Musk when asked “what is cryptocurrency”. Elon Musk’s mention of Dogecoin only made the coin rise slightly from the bottom. By 12 o’clock, the price of Dogecoin was still at $ 0.55, a sharp decrease compared to before Saturday Night Live aired. “People seem to be starting to realize that you shouldn’t invest based on a guest on a comedy show mentioning that asset,” said Wall Street Journal financial writer Paul Vigna. Elon Musk appeared on Saturday Night Live, mentioning Dogecoin. Earlier, the news that Elon Musk led Saturday Night Live caused the price of Dogecoin to increase sharply. According to the data of Coinmarketcap , the value of each Dogecoin has increased from $0.34 on May 1 to $0.69 as of the morning of May 8. Many fans of Musk and Dogecoin even plan to invite friends over to watch and celebrate if the coin’s price skyrockets. On the morning of May 8, Elon Musk posted on his personal Twitter a picture of him and two other guests of Saturday Night Live. Musk also inserted a picture of the dog Shibu, the symbol of Dogecoin, into the frame. Soon after, the Dogecoin price increased rapidly and reached an all-time high of $0.72 before cooling off.

DOGE-1 will send a 40 kg Geometric Energy Corporation satellite to the Moon. This satellite will collect information about the planet Earth. Representatives of the two companies have not announced the contract value paid in Dogecoin. The DOGE-1 program will send a satellite to the Moon on a Falcon 9 rocket. Fees are paid in Dogecoin. Photo: SpaceX. SpaceX vice president Tom Ochinero said the DOGE-1 program “will demonstrate the application of extraterrestrial cryptocurrencies and lay the groundwork for transplanetary commerce.” Earlier, Elon Musk said that SpaceX will “actually put a Dogecoin on the Moon”. However, he made his statement on April 1, so no one is sure if he was joking or telling the truth. SpaceX is not the first company run by Elon Musk to accept cryptocurrency payments. In February, Tesla announced it was buying $1.5 billion in Bitcoin and accepting payments for cars in the currency. The move caused Bitcoin price to surge. In the crypto world, the term “to the moon” is often used to refer to a coin’s value skyrocketing. According to Coinmarketcap, on the morning of May 10 (Vietnam time) Dogecoin is priced at about 0.55 USD, with a market capitalization of 72 billion USD, ranking 4th after Bitcoin, Ethereum and Binance coin. Before that, Dogecoin had 2 strong volatile weekends. On May 8, the news that Elon Musk hosted Saturday Night Live caused the price of Dogecoin to increase sharply. According to Coinmarketcap data, the value of each Dogecoin coin has increased from $0.34 on May 1 to $0.69 as of the morning of May 8. Many fans of Musk and Dogecoin even plan to invite friends over to watch and celebrate if the coin’s price skyrockets. On the morning of May 8, Elon Musk posted on his personal Twitter a picture of him and two other guests of Saturday Night Live. Musk also inserted a picture of the dog Shiba, the symbol of Dogecoin, into the frame. Soon after, the Dogecoin price increased rapidly and reached an all-time high of $0.72 before cooling off. The price of Dogecoin dropped dramatically on the morning of May 9, before Elon Musk hosted Saturday Night Live. Photo: Coindesk. However, before the time of Elon Musk’s broadcast, the price of Dogecoin dropped dramatically. According to the data of Coinmarketcap , from nearly 0.7 USD, Dogecoin dropped to more than 0.5 USD after more than 30 minutes of the program. The market capitalization of this coin dropped from $90 billion to just $68 billion after 1 hour, more than $150 million of leveraged investors was blown away. As expected by many, Elon Musk mentioned Dogecoin in the middle of the show. “Recently, the prices of many cryptocurrencies have increased, such as Bitcoin, Ethereum, and especially Dogecoin,” replied Elon Musk when asked “what is cryptocurrency”.

The new digital currency is called Internet Computer. Currently, this coin has entered the top one of the largest cryptocurrencies in the world at number 8, according to CoinMarketCap rankings. The introduction of Internet Computer and its ledger will help users create whatever they want on the Internet without going through digital giants like Amazon or Facebook. Users can also use commercial cloud services. According to Mr. Dominic Williams – the project’s founder – Internet Computer was founded with the idea of ​​avoiding the barriers of companies and helping to reduce costs. Users can build social media and other services to compete with the internet giants of the world. Internet Computer raises $45 billion in one day amid crypto craze. Photo: Bloomberg. The network that powers the cryptocurrency uses smart contracts and task execution software, helping it compete with larger players like Ethereum. Internet Computer is also involved in many other coins and related networks such as Polkadot and Binance Coin. The launch of the Internet Computer is taking place in the context of the cryptocurrency revolution that is exploding around the world. Prices for many cryptocurrencies, from Bitcoin to Dogecoin, are up sharply from a year earlier. According to the Bloomberg , the total market value of cryptocurrencies currently stands at $2,480 billion, up sharply from less than $1 trillion at the start of the year. Bitcoin is still the most valuable cryptocurrency in the world. According to the Coindesk , one Bitcoin is currently priced at $57,214, up 4.67% from yesterday. Other coins also had positive momentum, in which Ether rose 11.89% compared to yesterday, surpassing $4,269 per coin. Dogecoin also increased to 0.49 USD/coin.

Besides Dogecoin, the posts also list a variety of cryptocurrencies with animal names, inspired by dog ​​breeds such as Akita, Shiba, Poodle… On many cryptocurrency discussion groups, administrators have voiced doubts about these articles, and commented that it is lame to rank FXT Token on a par with Dogecoin or Shiba. Posts promoting cryptocurrencies by many famous people in Vietnam. Posting about cryptocurrencies but don’t understand what “moon” is The fact that a series of artists have posted articles promoting the purchase of cryptocurrencies has many unusual signs. First, all articles have the same content, no difference in punctuation. They all only last a few hours before being deleted. In the comments section, many artists seem to lack the basics of cryptography. Actor Kieu Minh Tuan does not know the term “moon”, which is often used to refer to a sharp increase in money. Previously, singer Cao Thai Son was the first artist to publicly enter the cryptocurrency market with a portfolio that included Dogecoin. He often shares about his activities on his personal page. Post by Kieu Minh Tuan on personal Facebook. “Should you buy crypto right now? Advice: Buy as an asset with idle money, no leverage or interest,” the male singer wrote in a May 11 post. In the last week, when Dogecoin rose sharply, Cao Thai Son once posted to cheer for this coin, calling for everyone to invest. However, right after Dogecoin fell deeply, this singer posted a photo with the words “back to being a singer, no more analyzing stocks, crypto”. After Cao Thai Son, Ngoc Trinh also attracted attention when she published a post criticizing a cryptocurrency exchange that did not authenticate users (KYC) and claimed that she had been scammed by the exchange. While, delay in KYC is normal in exchanges. After that, she continued to post showing off her wallet on the exchange owning many millions of dollars worth of cryptocurrency. However, Ngoc Trinh deleted these posts, posted the article “duplicating the original” of other KOLs and then deleted it again. “Not only Huobi, many exchanges allow withdrawal of small amounts without KYC. Only when a large amount of money needs to be withdrawn does the user have to do KYC. It is incorrect to deposit such a large amount of money into the exchange without first finding out, and posting a post saying that the exchange is a scam,” commented Nguyen Vinh, co-founder of a large cryptocurrency investment company in Vietnam. Artists install advertising messages for multi-level? In the list of cryptocurrencies posted by the artists, in addition to the animal coins, there is a different coin, placed in the middle of the list is FXT. Previously, FXT was used as a fiat currency used for Lio****’s project. This project acts as a forex trading platform combined with binary options. This form of binary trading has long been warned as multi-level gambling. Instead of having to play on their own, investors in Lio**** are guaranteed to pay interest daily. The total profit for the whole year of this project is up to 2.3 times the original capital. The project has been warned by many domestic experts as a scam. In early 2021, many people lost money when Lio**** stopped working, not allowing money to be withdrawn from the account. The FXT coin is said to be directly related to the Lio**** multi-level project. Photo: VTV. Reply anonymously to Zing , a technology expert, and an administrator of the largest group of digital currencies in Vietnam, thinks that putting FXT in the middle of the list in the article is how artists advertise the product. by Lio****. “I think that a celebrity like Ngoc Trinh showing off a million-dollar e-wallet may be an implicit advertising act for FXT, not Dogecoin or Shiba. Because the time shown in the photo is quite different from when it was posted. Not to mention, the fact that many Vietnamese artists and celebrities share the same post content is very suspicious, “said this expert. On the same day, May 11, many screenshots of posts by Vietnamese artists were widely shared by the FXT Token community. “To Ngoc Trinh, Kieu Minh Tuan, Kha Nhu… still participating, what are you waiting for?”, the content of the status line reposted the screenshot of the person claiming to be the leader Lio****. In this article, the artist group also put the hashtag #trust. Trust English means “trust”, but can also refer to Trust Wallet, a software wallet technology that stores cryptocurrency. Previously, in the group of users who were deceived by Lio****, there were many warnings not to send money to Trust wallet to avoid losing evidence. On cryptocurrency discussion groups, members also pointed out that FXT is a suspicious name, because this coin has been launched since the end of 2020, and the call for investment has many signs of multi-level resemblance. . “These artists may be creating the image of a new multi-level project, aiming to attract a lot of small investors to clean up a big catch,” said LN, which runs a group on crypto. Many risks when investing in “junk coin” In the world of cryptocurrencies, in addition to large-cap coins with a good technology platform behind them, there are many so-called “junk coins” (very low value, arbitrarily created coins, copy the source code of reputable systems and some are served to scam groups). They are built on the available blockchain technology, often have no applications or come up with very simple applications, very low value but very high supply. Many experts warn that low-value, animal-based cryptocurrencies that have grown several times in the past few days are also very risky investments. These coins have a common model of using a cute image of an animal, a very small price, buying and selling many times to grow quickly. “These currencies all start at very cheap prices, at a fraction of a few tens of millions of dollars. They are created, then sent 50% to a certain celebrity for image, and then sold on exchanges. They use money to buy and sell themselves on these exchanges to increase the price thousands of times, creating momentum to put on the big floor. Because the number is so small, when the coin increases to a certain level, it has grown thousands of times, creating trust for ignorant people. When it comes time to be dumped, only those people will suffer,” said Vuong Le Vinh Nhan, founder of the VNDC trading platform. The Dogecoin price rose rapidly and reached an all-time high of $0.72 before cooling off. Photo: Coinmarketcap. Before that, the most successful animal crypto story was Dogecoin. Created as a joke, Dogecoin has been growing strongly for nearly a year as Tesla CEO Elon Musk repeatedly mentioned the coin. Over the past week, the price of Dogecoin has also fluctuated by tens of percent every day. Mike Novogratz, founder and CEO of Galaxy Digital, believes that two sharks own 30% of all Dogecoin today. In addition, Dogecoin also does not have a supply limit like Bitcoin. “The rise of Dogecoin is a prime example of the theory that fools more at play,” said David Kimberley, analyst at investment app Freetrade.

However, in the comments section, the artists showed a lack of basic knowledge about cryptocurrencies. After receiving many reactions, on the morning of May 12, the posts on the website simultaneously “evaporated”. “This is an advertising campaign” Duong Nguyen Huy, owner of a cryptocurrency trading community in Vietnam, said that the series of artists posting about cryptocurrencies is an advertising campaign, because the shared content is the same. both the image and the spelling, no different from a semicolon. “Artist’s posts have started to have an impact. From official accounts (with green ticks), information is widely spread on the Internet, becoming a topic of discussion at offices and cafes. coffee after only a few hours”, Mr. Huy said that this campaign has attracted the attention of many people. Posts promoting cryptocurrencies by many famous people in Vietnam. Photo: Huynh Loc. Not only Dogecoin, Shiba Inu also increased in price thanks to Tesla CEO. On May 7, responding to a Twitter user’s comment, Musk said “looking for a Shiba dog”. Immediately after this statement, the Shiba Inu (SHIB) coin rose sharply. After just a few days, the price of Shiba Inu has increased by almost 40 times. With nearly 400,000 billion SHIB coins in circulation, the market capitalization at one point surpassed the 20 billion USD mark. Besides, according to Mr. Huy, the cryptocurrency market has many potential risks. For example, the cryptocurrency market has experienced a sharp decline in the period from 2018 to early 2020 regardless of whether it is Bitcoin or Ethereum. However, the artist’s posts on the evening of May 11 did not have any risk warnings. Because of the ambiguity, need the prestige of the celebrity In the list of cryptocurrencies posted by the artists, in addition to the animal names, there is a different coin, placed in the middle of the list is FXT Token. Unlike the other cryptocurrencies on the list advertised by the artists, FXT Token is an anonymous coin. “Anonymous is because it is not listed by big and reputable exchanges, but can only be purchased through small exchanges. The total transaction volume of this coin is only about 500,000 USD/day. That means anyone with about 200,000 USD will also can manipulate its price,” analyzed Dinh Tran, co-founder of a blockchain investment fund in Ho Chi Minh City. Meanwhile, other coins on the list of artists listed have daily transactions from a few hundred million to several billion dollars a day. “Putting FXT Token into the list of worth investing in is very ignorant. It is this ambiguity that makes FXT Token need to rely on celebrity advertising,” said Mr. Dinh. The artist’s post is then captured, shared immediately in multi-level groups, calling for investment. Talk to Zing , the founder of the largest Crypto information platform in Vietnam, said that FXT Token is trying to borrow the influence of celebrities to reassure investors and create fear of missing out (FOMO) to blow. price of this currency. As a result, screenshots of posts by Vietnamese artists were widely shared by the FXT Token community in hundreds of online earning groups. “To Ngoc Trinh, Kieu Minh Tuan, Kha Nhu… still participating, what are you waiting for?”, the content of the status line reposted the screenshot of the person claiming to be the leader Lio****. This shows the significant influence of using artist reputation to promote “junk” cryptocurrency. The predecessor of FXT Token is a binary exchange, similar to the gambling model. Screenshots. The fact that artists have no knowledge, but still promote Dogecoin, Shiba Inu or FXT Token can be misleading, even causing many people to participate in scam projects. The above articles can also have a negative impact on the capital investment sector, which has many things that are not properly understood. “Celebrities have no expertise, knowledge and experience in the field of cryptocurrencies… This sector is easily fooled by bad projects, created just to make money, selling ‘junk’ to homes. investment,” said Mr. Huy. Before the invitation to invest in cryptocurrencies, Mr. Huy advised participants to carefully research information on official sources, absolutely do not invest if invited by friends, or join invitation groups. rich prospect when “playing” coin. Do apps that promise big profits help you get rich? Thanks to the development of technology, new type of multi-level fraud models easily raise capital and disappear faster, leaving no trace.

Photo: FT The dog-shaped coin that started as a joke has grown in value by 1,000% this year and has received the support of many celebrities, such as Tesla founder Elon Musk. . Photo: FT It is not clear how much money Aziz McMahon will gain after investing in Dogecoin. However, The Guardian says that this number is significant. For her part, Aziz McMahon declined to comment. Goldman Sachs said that Aziz McMahon was not involved in the bank’s crypto business. Photo: Bloomberg Last week, Goldman Sachs opened a Bitcoin investment division. This is in contrast to 2018 when the bank said it had decided not to enter the cryptocurrency market. Photo: Bloomberg Created by two software engineers named Billy Markus and Jackson Palmer, Dogecoin was intended to be a faster and happier alternative to bitcoin. Since its inception, Dogecoin has a growing community of users. In mid-April, Dogecoin reached the top 10 of the largest cryptocurrencies in the world.

Photo: CNBC Specifically, at one point, Dogecoin has decreased in price by 29.5% to 49 cents. Elon Musk mentioned Dogecoin and called it a “rush”. By the end of the program, Dogecoin price increased slightly back to 57 cents. Overall, however, the digital currency is still down 17% in value since the beginning of the show. Photo: Hollywood Reporter During the news release that Elon Musk’s TV talk “sparked”, some users of the investment app Robinhood said that they could not trade cryptocurrencies via the app. Robinhood confirmed the problem was still on Twitter and the service was back to normal in less than half the next. Photo: NYTimes In mid-April, Dogecoin reached the top 10 of the largest digital currencies in the market. This coin is developed based on the meme “Doge”. This meme has been popular since late 2013 and features a Shiba Inu dog image. Photo: The Verge Created by two software engineers named Billy Markus and Jackson Palmer, Dogecoin was intended to be a faster and happier alternative to bitcoin. Since its inception, Dogecoin has a growing community of users.

The big reason for this sharp increase is believed to be the appearance of Tesla CEO Elon Musk on Saturday Night Live, which will take place at dawn 9/5 Vietnam time. Will Musk take Dogecoin soaring? Many people waiting for Musk, which has been publicly supporting Dogecoin for a long time, will mention the cryptocurrency right in the show with millions of viewers across the United States. “Everything will depend on what Elon Musk does, what he says. Everyone will look at the phone while watching the program to keep up with the latest developments,” said Alma Cortez, an investor in Dogecoin. Bloomberg. She said she would invite friends over to watch the show featuring Elon Musk. Elon Musk regularly mentions Dogecoin on his personal page. Photo: Reddit. On the morning of May 8, Elon Musk personally posted a photo of him and two other Saturday Night Live guests on Twitter. Musk also inserted a photo of the dog Shibu, the symbol of the Dogecoin, in the frame. Soon after, the Dogecoin price surged and hit a historic high of $ 0.72 before cooling off. Just a day ago, Musk posted a video on Twitter saying “Cryptocurrency has great potential, but invest with caution”. There is no shortage of stories about Dogecoin investors profiting from this coin. Due to its very small value, only around $ 0.001 to $ 0.003 throughout 2020, investors can own hundreds of thousands of Dogecoins with just under $ 1,000. Elon Musk posted a photo with the guests of Saturday Night Live, and added a picture of Shiba, the Dogecoin symbol. Photo: Elon Musk. Dogecoin’s hot growth is in large part thanks to Elon Musk’s cheers. He repeatedly posted on Twitter cheering for the coin, arguing it would “go to the moon,” a term for the crypto’s skyrocket. Many investors have been waiting for Musk’s television appearance to keep Dogecoin going. With Dogecoin, many experts believe that emotions will contribute the largest to the value of money, not fundamental analysis or technical analysis. “I will trade on the expectation of the arrival of Elon Musk. Whatever he says, people will surely be disappointed by the words that will not be compared with current expectations for Dogecoin,” Yosef Adelman, marketing specialist and Dogecoin investor since 2019, said. Criticized, Dogecoin still surged In the world of cryptocurrencies, Dogecoin is considered a joke since there is no app attached, nor an unlimited number of it can be created. Programmers Billy Markus and Jackson Palmer created this coin by copying the Bitcoin source code, searching for “Bitcoin” and replacing it with “Dogecoin”. It took him just one afternoon to create Dogecoin, Billy Markus said. However, the value of this currency has increased sharply in the past 6 months. According to the CNBC Dogecoin has risen 2,500 times in just half a year, reaching a market cap of $ 86 billion, ranking 4th in the market. This cryptocurrency has increased in price thousands of times in the past half year. Photo: Coinmarketcap. During the same period, the S&P stock index rose 19%, and Tesla shares rose $ 56. Cryptocurrencies Bitcoin and Etherum rose 3 and 7 times, much lower than Dogecoin. “This time, Wall Street is falling. We are seeing young people on TikTok investing much higher returns than the smartest financial investors,” said Mati Greenspan, manager of Quantum Economics. review. “The best part of Dogecoin is honesty. Unlike many other crypto projects, it doesn’t have a grand vision or world-changing claim,” said Galaxy researchers Alex Thorn and Karim Helmy. prefer. Dogecoin’s growth leads to many strange situations. Shares of Coinbase, the largest cryptocurrency exchange in the US, fell to a May 6 low because the company does not support trading of less guaranteed coins like Dogecoin. Meanwhile, trading app Robinhood that supports Dogecoin has climbed to the top of the App Store rankings in the US. In addition to having no background value, many crypto experts warn that the Dogecoin source code has long been out of date. “There are a lot of question marks around Dogecoin’s software problem. Then there will come a time when the software must be updated. If Dogecoin is really valuable and people can monetize the applications on it, someone else will. Get in right now, “commented Konstantin Richter, CEO of blockchain platform Blockdaemon.

On April 22, many Thodex users were surprised by the inability to access the exchange. On the official website, Thodex announced to stop all transactions to re-evaluate the offers from partners. The broker also says the process will take 4-5 business days. Thodex exchange closed, many reports suggest that the CEO has run away with money. Photo: AA. According to data from CoinMarketCap , before stopping trading assets on Thodex about 585 million USD. Thodex has about 400,000 users, 390,000 of whom are active traders, according to the national news outlet Anadolu . Although Thodex’s announcement promises to return soon, the social media accounts of many of the exchange’s managers have been locked. The exchange’s user support team is also inaccessible. CEO and founder Faruk Fatih Özer closed his Twitter account on April 21. According to the Anadolu A lawyer filed a lawsuit against Ozer on allegations of fraud. Oğuz Evren Kılıç, chief financial law officer of the Ankara Bar Association, said zer fled Turkey on the evening of January 20. This information was revealed to Mr. Kılıç by the police. According to the CNN Turk , the Istanbul police also began investigating Thodex with allegations of fraud. Bloomberg Thodex’s bank account was blocked, and police searched the company’s office. The number of cryptocurrency investors in Turkey has increased rapidly in recent years, as many believe that this can be an inflation hedge. On April 16, Turkey’s Central Bank announced that cryptocurrencies would not be allowed to be used directly or indirectly for payments, and the regulation went into effect on April 30. However, trading cryptocurrencies is not prohibited under the new regulations. Therefore, Thodex’s suspension of operations makes many investors concerned. Thodex CEO Faruk Fatih Özer has yet to reappear. Photo: DW. Mehmet, a Turkish investor, said he noticed suspicious signs when Dogecoin traded on Thodex at a much lower price than other exchanges. On April 17, the price of Dogecoin on this exchange was up to 30% lower. As of April 19, Thodex announced a brief shutdown for maintenance related Dogecoin trading. This cryptocurrency, often considered a joke because of its origin, accounts for 53% of transaction value on Thodex. The amount of Bitcoin held on this exchange is only equivalent to about $ 10 million. As announced by Thodex, the exchange stopped trading to consider partnering with an unnamed partner. Blockchain professor Ismail Hakki Polat at Kadir Has University in Istanbul said the announcement could mean the exchange is looking for new investors. Attorney Kılıç is giving legal advice to many Thodex users. Mr. Kılıç argued that these users cannot withdraw money from the exchange, whether in the form of fiat money or cryptocurrency. On April 22, the Thodex website updated with more information that the allegations of fraud against this exchange were not true. The announcement also said that the exchange detected about 30,000 suspicious accounts. According to the Coindesk This announcement may have been written by CEO Özer of Thodex himself. He also confirmed that there is a smear campaign aimed at him.