## In January, news of a Fall Out Boy NFT dropped. What happened next?

Fall Out Boy is a world-famous band out of Chicago that has featured in its line-up Pete Wentz, Patrick Stump, Joe Trohman, and Andy Hurley.
On January 7, the official Twitter feed shared a Fall Out Boy NFT. The tweeted image depicted the band members with invisible faces. The Fall Out Boy image was developed by [Invisible Friends](https://invisiblefriends.io/), a well-known [NFT](/news/category/nft-news) creator with a significant following.

The official page of Invisible Friends was also tagged in the Fall Out Boy post. The title of the NFT artwork was given as "We're Feeling Invisible".

Given the band's international fanbase, it was no surprise that the tweet quickly went viral.
However, responses were mixed. Many focused on plans for a new album, not the Fall Out Boy NFT. Others were unhappy with the group's first foray into the NFT market.

Twitter users Alex said, "Sugar, We're Letting Fans Down," to which 2.8K people agreed. Another user, Fin, expressed worry about the carbon emissions associated with NFT minting and advised that Fall Out Boy make a new album instead of entering the NFT arena.
The NFT space is in its infancy and is a highly speculative asset. It can be impacted by those with a large number of followers, such as Fall Out Boy.

Invisible Friends already had a substantial following - 200k on Twitter and 600k on Discord - and you might have thought it couldn't get much bigger. However, the Fall Out Boy NFT tweet sent Invisible Friends fans into a frenzy.

Invisible Friends excel at two things: art and community. These two factors significantly impact the volume traded in a collection. Despite the stunning visuals and engaged fans, the initiative lacks a plan. Nonetheless, it is one of the most anticipated drops.

Markus Magnusson, an animator and illustrator, produced the 5,000 animated NFTs in the Invisible Friends NFT collection. The artworks are basic and eye-catching based on some of the sneak peeks the team offered on Twitter.
 
Moreover, the fact that a respected animator like Magnusson is working on the characters adds to the excitement. He has 188,000 Instagram followers and has already sold numerous NFTs. One famous example is the Invisible ghost buddy guy, which sold for 4.8723 ETH (about $18,600) last October.


Fall Out Boy NFT. What Happened?

The [Blockchain Backer Twitter](https://twitter.com/B_CBacker) feed was bound to have an opinion on a recent multi-million dollar crypto hack, and it didn't disappoint.

Blockchain analysis researchers have traced the large quantity of cryptocurrency stolen last month from the Ronin network bridge to the North Korean hacking group Lazarus. The hackers stole large amounts of the [Ethereum](/coins/eth) currency and USDC stable coins totaling $540 million at the time.

It is believed that North Korean cybercriminals targeted multiple organisations in the blockchain technology and cryptocurrency industry. The hacks started with phishing messages to employees on various communication platforms. High-paying jobs were offered to coerce the potential victim to download cryptocurrency applications that contain malware.
 
Sky Mavis is looking to recover 173,600 Ethereum and $25.5 million from the hackers. The attackers zoned in on the bridge to Ronin blockchain, which acts as an intermediary between Axie Infinity and blockchains such as Ethereum. Where users deposit Ethereum or USDC to Ronin and then purchase non-fungible token items or currency within the game. They can also sell their in-game assets and withdraw the money.
 
The attackers used hacked private security keys to compromise the network nodes that validate transfers to and from the Ronin blockchain. 

After compromising four of Sky Mavis’ nodes, the attacker exploited them to get access to one managed by the community-owned Axie DAO. 

This allowed them to override any transaction security and withdraw whatever funds they liked.

## Bitcoin Backer Twitter View

The hack could not have been prevented as the hackers used the features of the chain and the ability to vote against it, according to Charlie Shrem, Blockchain Backer, on Twitter. He tweeted this to his 250k followers on Twitter, where he interviews and regularly discusses the impact of Bitcoin and Blockchain. 

On Blockchain Backer Twitter, Shrem recommends that people do not save screenshots or text files of their passwords and private keys on their computers, as hackers can scan them without them knowing. In his opinion, password managers are a better option for your accounts as you can create randomized passwords without remembering them all!

Shrem founded BitInstant in 2011, a platform that allows the exchange of dollars into Bitcoin. It operated until 2013 and gained more than 700,000 followers. At a point, it was processing nearly 30% of all Bitcoin transactions.

In December 2014, Shrem was sent to prison for indirectly sending $1 million in Bitcoin to Silk Road. Shrem is considered a Bitcoin evangelist for how he brought Bitcoin to the mainstream. 

## Staying Safe

Cold storage is seen as more secure as your crypto will be on an encrypted flash drive. So, if a thief wants them, they’ll have to steal the physical device. You can also enable two-factor authentication (2FA) on your accounts. Then a thief would need not just your password, but to gain access to your mobile phone. If hackers gain access, you can receive your access code by downloading an app that is a hardware key designed for 2FA. 

Blockchain Backer Twitter View on Crypto Hack

Could you spend Elon Musk's money if you had it? And what would you spend it on?

For some, well, not all; it's no news that Elon is known for making bold investments in various industries, like automobiles, crypto, space exploration, etc.

Considering how wealthy he has been over the last decades, this is no surprise - earning a massive amount of money off his investments and being the world's richest man with well over $200 billion in net worth.

Elon holds a significant interest in three important companies; Tesla, SpaceX, and Twitter. The business magnate spent a whopping $2.89 billion purchasing a 9.2% stake in Twitter, which, in turn, made him the company's largest shareholder.

Elon is known for bold purchases and wise investments, and Twitter shares surged about 27% right after the purchase.
 
## Elon Musk's Best Investments To Date

Over time, Musk has invested in Tesla, PayPal, SpaceX, and DeepMind Technologies, which became successful companies.

### Tesla

Even though he wasn't a founding member of Tesla, he was among those who led an early round of financing the company back in 2004. And in 2008, he became the CEO of the company. Today Tesla is a significant EV manufacturer and the largest EV company by sales and market share.
PayPal
 
Musk founded X.com with others and that ended up being PayPal in 2001. When the owners sold PayPal to eBay in 2002, Musk, who with an 11.7% stake was the company's largest shareholder, received more than $150 million.
 
### SpaceX
 
In 2002, Elon founded SpaceX with a mission to innovate on space technology and a primary aim of taking humans to Mars. Pretty lofty goals, right? Since its inception, Elon has helped the company take on significant space projects; in 2021, NASA awarded SpaceX a contract to haul astronauts to the lunar orbit of the moon's surface in its Starship vehicles. 

## How Would You Spend Elon Musk Money
 
Considering how wealthy Elon is, being the richest man on Earth, you must have thought: 'How would I spend Elon Musk's money?'. Here are some ideas:

## Buy Bitcoin in Large Amounts
 
If you're keen on investing like Elon or just looking for ways to spend your money reasonably, you can purchase and hold Bitcoin in large amounts. Yes, it's a wise decision; in the past and present times, famous business magnates have evangelized the importance of owning Bitcoin. 

Why? Because it might just be the next big thing in finance, if it isn't already.
 
## Start or Invest in a Company You Love
 
Everyone is passionate about something. If that's you, then spending money on starting a company of your liking isn't such a bad idea. It's easier said than done, but what are the odds of losing if you try? You get to do what you love and start something you're passionate about that could lead to something big.

## Final Thoughts

Suppose you have well over a billion dollars. In that case, you can invest in companies, companies that you love their products oh so much, and, more so, companies that have the potential to innovate or change an industry constantly over time.

Do you love Apple products or Tesla cars? Investing in Tesla and Apple is a perfect way to spend your money wisely without worrying over significant losses.


 
 
 
 
 
 
 



Spend Elon Musk Money? How Would You Spend Billions?

There are many influencers within the crypto space. Some use their followers for personal gain and some are more reliable. None are bigger and have more impact than that of Elon Musk. It should come as no surprise as [Elon Musk's Twitter](https://twitter.com/elonmusk) account has amassed a staggering 81 million followers.

Along with promoting his businesses, such as Tesla, SpaceX, and The Boring Company, Elon Musk Twitter also occasionally comments on the happenings within the crypto community. In April of last year, Elon's Twitter saw many tweets coming from the man himself promoting and posting memes about a meme coin called [Doge](/coins/doge). This activity from Mr. Musk's Twitter brought much awareness to the coin. Its value went from 5 cents per coin to an incredible 73 cents over the span of only a month. 

## Elon Musk and Dogecoin

At the time of writing, the top holder has an enormous 22.59% of the entire supply of Dogecoin. This information produces some unanswerable questions. Is the top holder Elon Musk and is he promoting the coin for the love of crypto and memes, or is it to make a financial gain off the back of his followers?

Dogecoin is not the only crypto Elon has talked about on his Twitter. He's also spoken dozens of times about Bitcoin, the mother of all crypto coins. At one point, Musk was accepting crypto as payment for his electric automobile company Tesla, so it makes sense why he would often talk about crypto. Like many other people, he wants more people to buy into it to increase the value per coin.

## Musk, McDonald's & the Crypto Community

Elon Musk's Twitter is such a staple within the crypto community that when Elon Tweets something, whatever words he uses in the Tweet get turned into a crypto coin, occasionally amassing up to millions of dollars’ worth in market cap. Until recently, Elon's Twitter was the only account people would create coins based on Tweets. This changed on January 25, 2022, when Elon tweeted at McDonald's, saying: 'I will eat a Happy Meal on TV if @McDonalds accepts Dogecoin.' This provoked McDonald's into replying with 'only if @tesla accepts grimacecoin'. 

Grimace coincides with Ronald McDonald within the McDonald's universe. He was first introduced in a TV commercial back in 1972. This crossover of Elon, McDonald's, and the crypto community saw many new tokens created that night called Grimace Coin. Only one survived the night and continued to make a run up to $12 million in market cap over the next four days.
 
Elon Musk's Twitter is now firmly set in stone to be a staple of the crypto community. It would take a major event to reduce his impact to nothing. Whether it's a good or bad thing that he has this much impact, we can all agree that it is very intriguing to see what will come from his Twitter antics next.


How Elon Musk’s Twitter Account is So Influential

Can an Elon Musk tweet really impact the value of cryptocurrency? Short answer, yes.

In financial markets, valuations are usually primarily driven by fundamentals such as company-specific DCF, FCF, and multiples analyses. That said, in the short term, markets are often irrational, deviating from fundamentals, and can stay that way for longer than investors can remain solvent, yet they always correct themselves. In contrast, what moves prices in the crypto market? Is it the greater fool's theory or the information content effect of news?

It is a decentralised industry fuelled by a desire to remove the middleman. To democratise payments and credit while removing the ability of one party to influence the market. However, it seems like sway is still driving valuations.

It is well documented that social media and celebrity endorsements have been potent tools to move crypto prices. Of these, there is one with a particularly strong grip over the market, Elon Musk.

## The Elon Effect

To put Elon’s influence on the crypto market into perspective, when he expressed his interest in Dogecoin in February last year, he single-handedly pushed up market prices by approximately 50%. Subsequently, when he announced [Tesla](https://www.tesla.com/) would start accepting Dogecoin for a limited category of merch, the currency further appreciated by an estimated 43%.

If this wasn't enough proof, the entrepreneur has also profited from his tweets and crypto trading. He mocked [Bitcoin](/coins/btc) for years, comparing it to fiat currencies. Yet, last year Tesla announced a $1.5 billion investment into the currency, which sent its valuation soaring by 20%. Tesla later announced it would accept BTC payments, sold off part of its Bitcoin holdings, and then canceled accepting BTC payments, which depressed the price by an approximate 12% on the day.

## Is it Market Manipulation?

Under UK regulations, market manipulation is illegal and can be approached by civil and criminal regimes. Both routes would refer to statements and actions attempting to manipulate market sentiment and, thus, influence prices. Some experts in securities law argue that Elon's disruptive behavior towards crypto exchanges could be perceived as market manipulation. Many others are not convinced. Regardless, he has been warned off tweeting on subjects that could sway markets and was fined $20 million by the SEC. Yet, it doesn't seem like his influence has faded one bit in the eyes of investors.

## Implications for the Entire Crypto Market

Individuals like Elon Musk having so much influence in the crypto community has been a concern for the SEC and regulators in the US for years. However, it was when traditional investors started losing their savings over these indicators that introducing more stringent regulations became a hot topic. Hester M. Peirce, a pro-crypto commissioner with the SEC, has proposed an alternative solution – providing more clarity governing the crypto market to avoid losing talent and innovators to countries with laxer policies over crypto.

As regulators try to introduce further protections for crypto holders, it will be interesting to observe what other factors prove to drive valuations in the market.


An Elon Musk Tweet Can Move Markets

Tyler Winklevoss, a US investor and the co-founder of Winklevoss Capital Management and Gemini cryptocurrency exchange, called the Twitter culture "toxic" after the social network-residing community called out Tesla's owner Elon Musk for becoming its biggest individual shareholder.

Winklevoss said the resistance inside Twitter to Musk's attempt to ensure that it is a platform for free speech has been “alarming”. 

“These people are committed to Soviet-style censorship. Their beliefs and ideology are patently un-American. It's time to clean the Augean stables,” he wrote.
Winklevoss was optimistic about this acquisition even when it seemed like one of Musk's jokes. He warned that the Twitter community would see in a short time how malevolent and politically directed the "shadow banning" and algorithms were and how dangerous this all was for the democracy in total.

## Breaking Corruption Between Big Tech and Media

However, he called out the big tech saying that this buyout will finally break the corrupted circle between tech behemoths and the corporate media once Musk restarts Twitter. Winklevoss also commented that Twitter stock has been flat for many years, and now, Musk has come to change this. He called Musk the "most proven and successful entrepreneur in the world" and added that this is a great time for free speakers.

Tyler is also known to be a prominent opponent of Biden’s plan to make massive investments in America’s social safety net. He recently contributed a maximum legal amount to the conservative democratic senator Krysten Sinema who demanded cuts to bring down the cost of the $3.5 trillion plan.

Together with his twin brother Cameron, Tyler is believed to be the first Bitcoin billionaire. 

The brothers are known for giving money to numerous cryptocurrency and blockchain-related businesses, Gemini exchange being one of them. Apart from Bitcoin, he is also one of the most agile Ethereum investors. Brothers stated together that they own 1% of all Bitcoin in circulation.

## Gemini Partners with Mastercard

Recently, [Winklevoss](https://twitter.com/tyler/status/1518612871239843840) announced that Gemini has partnered with Mastercard and WebBank to launch the Gemini Credit Card that brings DeFi together with the traditional financial system (TradFi). 

Tyler founded Gemini back in 2014, making it one of the most successful digital currency exchanges and custodians that allows customers to buy, sell, and store digital assets. It is a New York trust company regulated by the SEC.

The Winklevoss brothers featured in the film 'The Social Network', about the origins of Facebook. This film suggested that the original idea of Facebook was theirs. While students at Harvard at the same time as Mark Zuckerberg, Tyler and Cameron approached him to develop their social network project, ConnectU. Zuckerberg went on to create Facebook.

In August 2012, they purchased $11 million worth of [Bitcoin](/coins/btc). At that time, Bitcoin wasn't even worth $10.

Now the Winklevoss twins own at least 150,000 BTC. This makes a fortune in Bitcoin of over $6.255 billion. Potentially in the future, that can make them as rich, and possibly even richer, than Mark Zuckerberg.


Tyler Winklevoss Congratulates Musk on Acquiring Twitter

After news broke that Elon Musk is buying Twitter for $44 billion, Twitter users greet the new owner in their own language – memes!

Elon Musk has more than 52 million followers on Twitter, where he called memes “[modern art](https://twitter.com/elonmusk/status/1194814381311381504)”. He also shares visual jokes regularly on his account and enjoys criticism and support in the form of visual gags.

## What Elon Musk Says About Memes

"Who controls the memes controls the universe," Mr. Musk tweeted last summer. Although he doesn't make visual jokes himself, he finds them online and reposts his favorites without citing their origins. However, many content creators argue memes are valuable intellectual property and criticise Elon Musk for not giving the credits.

It's not uncommon to see this practice where many people on the internet share other people's memes without giving credit, partly because memes rely on reinterpretations of joke formats. Most of the time, it's not really clear where the content first begins.

## Elon Musk Memes: Trending

Besides the content creators, many notable personalities have also contributed to the "Elon Musk memes" trend. For instance, Marc Andreesen, the venture capitalist and co-author of the first widely used web browser, has shared jokes about Mr. Musk buying Twitter. Even the Financial Times also contributed to the recent meme trend.

## Elon Musk buys Twitter, Sending Dogecoin Price to the Moon

Dogecoin climbed 30% after the "Elon Musk memes" trend sparked by his Twitter acquisition plan. While there's no direct correlation between Dogecoin price and the recent deal, the tech entrepreneur has hinted about introducing [DOGE](/coins/doge) payments on the social media platform. Many investors are bullish on the prospect of DOGE's higher utility, sending the meme coin's price to the Moon.

## What’s Next After Twitter Takeover?

After announcing the deal, Elon Musk, one of Twitter's most popular personalities, said free speech is the "bedrock" of democracy and that Twitter is the digital "town square". He also showed the desire to enhance some features, make the algorithm open source to improve trust, defeat the spambots, and remove the fake accounts.

## The Fate of Banned Accounts

Since Musk describes himself as a "free speech absolutist", the question of which banned account to reinstate has become apparent for Twitter users.

Some say it could be the account of the former US president, Donald Trump, who was permanently banned shortly after the Capitol riot in January 2021. Twitter said this was due to the risk of "further incitement of violence".
On the other hand, Elon Musk said he would be very cautious with permanent bans on Twitter and prefer a timeout system.

## Revenue and Ads

Twitter investors were concerned with the company's slow growth in revenue and users. Elon Musk raised the possibility of getting rid of advertisements from the platform's premium service to improve user experience. On the other hand, 90% of Twitter's annual revenue comes from advertising, making the proposal look radical.

## What More?

Other possible changes could be related to management and features, like post insights or an edit button. Musk expressed his concerns about how the company runs, but he wasn’t the first Twitter shareholder to think so. He also said that Twitter users should be able to see how well their post has been performing. A possible edit button might also be on its way for the users. This speculation came after he flagged the possibility of introducing the feature.
In response to the recent takeover and possible aftermaths, here are some Elon Musk memes:

Douglas Boneparth, the president of the Bone Fide Wealth, joked, "Sex is cool, but have you ever paid $44 billion for an edit button?".

Others also took the opportunity to tease Elon Musk with memes.

Some users tweeted a meme saying, "Elon Musk spending $43 billion to stop getting bullied on Twitter when he could've simply been less annoying is insane".



Elon Musk Memes Flood Twitter

On April 20, 2022, [Binance](https://www.binance.com/en), a leading cryptocurrency exchange, launched a Twitter emoji that it later deleted due to its resemblance to the swastika. The swastika is a symbol associated with Nazism.

The emoji was an image of a golden square with four Ls for arms. Its resemblance to a swastika was clear as day to many Twitter users.

One tweeted: "The new Binance emoji is a literal swastika” Another tweeted that on a scale of one to 10, they'd give it a "Nein….".

Other Twitter users also pointed out that the date the emoji launched coincided with Adolf Hilter’s birthday.

After the public outcry, Binance deleted the emoji. So did the CEO, Changpeng Zhao, who also had it up on his Twitter page. The exchange then tweeted: “Well, that was obviously really embarrassing.

“We’re not sure how that emoji got through several layers of review without anyone noticing, but we immediately flagged the issue, pulled it down, and the new emoji design is being rolled out as we speak."

## Twitter Hashflags

Binance created its controversial emoji using Twitter’s branded hashtag feature. Through the feature, companies can design their own custom emojis and include them in hashtags to promote their business. The emojis are also known as hashflags.

Hashflags are images that appear after a tweeted #hashtag. They are embedded on Twitter and enabled for specific occasions or events. Twitter hashflags disappear after a limited time has lapsed, leaving the hashtag. Branded hashflags can cost a company a million dollars.

## Binance Twitter Woes

Binance is the world's largest cryptocurrency exchange by trading volume. It is accessible in many countries across the globe, supports more than 500 different cryptocurrencies, and features low fees. It is also feature-rich.

As good as Binance may be, the exchange is not short of problems. The Twitter emoji issue is only one of those.
The crypto exchange is reportedly under investigation in the US for helping in Bitcoin transactions worth around $716 million in 2019 associated with criminal activities.

Several countries have in the past banned Binance. In 2021, the UK’s financial regulator, the FCA (Financial Conduct Authority), banned Binance from operating in the UK. In the US, citizens cannot use Binance to buy or trade crypto. Instead, they have access to Binance US, which is quite limited compared to the internationally available Binance. The exchange is also not regulated in many countries.

## Final Word

Binance's Twitter emoji problem was easily solvable. Many people continue to wonder if the emoji was an intentional move by the company or something that was an innocent mistake. The emoji is no longer in use, but the damage has already been done for some people.

More [Crypto Business news](/news/category/crypto-business-news).


Binance Twitter and THAT Emoji! 

Coinbase Twitter tweeted a link to the article titled “The crypto guide to taxes” in the last days of March 2022. 

The tweet came a few weeks to tax season 2022 in the United States of America, and with the deadline for submitting personal gains to the Internal Revenue Service (IRS) fast approaching.

Coinbase tweets towards the end of March were on blockchain analytics, promotions for new accounts, and advanced trading on the cryptocurrency exchange. 

For Coinbase Twitter news to focus on crypto taxes means representatives of the platform continue to get messages from account holders on what activities constitute paying cryptocurrency taxes.

## Coinbase Twitter Reminder

Coinbase users have a cause to worry about Coinbase taxes. This is the primary reason why it is not surprising to find millions of verified Coinbase users asking the question of which crypto transactions are taxable? 

According to Coinbase, numerous kinds of crypto transactions are considered taxable events. Several crypto activities are taxable, but some of them are not. 

When you sell and convert crypto, you should know that you must pay crypto capital gains tax.

With that said, activities such as mining and holding digital collectibles in the form of non-fungible tokens (NFTs) and buying and holding crypto are non-taxable events.

Therefore, if you know that you have staked, spent, converted, sold, and earned crypto, you should prepare to pay taxes on cryptocurrency gains.
Taxes on personal income come in different rates and brackets, and the cryptocurrency tax is the same. Cryptocurrency tax rates fall under ordinary income or capital gains.

The rate of token tax depends on factors such as the method of obtaining the crypto and the duration you held onto the digital coins. 
IRS crypto taxes is similar to paying taxes on stocks. Therefore, you will pay relatively lower rates if you decide to HODL (hold onto your tokens for at least one year before selling them). 

You will pay taxes on crypto if you are involved in swapping tokens. A great example is trading crypto pairs such as BTC for ETH, ETH for ADA, ADA for BNB, and others. In the eyes of the IRS, swapping means you have sold your Bitcoin to buy Ethereum, Ethereum to buy Cardano, and Cardano to buy Binance Coin. In such a situation, you will realize gains or losses.

The same holds for spending. For example, you buy $20,000 worth of ETH and a price spike increases your investment by 300% to $80,000. You use your ETH to buy an automobile worth $80,000. You are then subject to paying capital gains tax on cryptocurrency.

The only way to avoid paying taxes on crypto is to use good old cash. Although it is not impossible, it would be difficult to find an exchange that accepts cash as a payment method in the current climate of crypto regulation. To put it simply, buying crypto with cash is not taxable, so you would not be having any IRS crypto problems once tax season takes center stage.

If you are a trader who transfers digital currencies between wallets such as Coinbase wallets (non-custodial wallet) and Coinbase Exchange accounts (custodial wallet), you are not subject to reporting detailed activities of such transfers.

Suppose you sent no more than $15,000-worth of crypto to friends and acquaintances. In that case, you are not eligible to file taxes on cryptocurrency.

Reporting your crypto activities and paying the necessary crypto trader tax is imperative.

The IRS has a zero-tolerance policy when it comes to paying taxes. Failure to adhere to crypto and taxes rules could lead to steep penalties. 
You can use CoinTracker (a trusted aggregator for tax services) to help you sort out your taxable crypto activities. 

Although Coinbase Twitter news has done its part in shedding more light on crypto and taxes, the onus falls on you, as a crypto user, to make arrangements for capital gains on cryptocurrency.

More [Business news](/news/category/crypto-business-news).



Coinbase Twitter Shares Crypto Tax Guide 

Twitter CEO, Jack Dorsey, has announced via Twitter that he is stepping down after almost 16 years.

In a [tweet](https://twitter.com/jack/status/1465347002426867720) from his personal Twitter account, Dorsey announced that he would be stepping down as CEO of Twitter and named former CTO, Parag Agrawal as the new CEO of Twitter, with immediate effect.

## New CEO Unanimously Appointed

Dorsey said in his announcement that he has decided it is time for him to leave, as the board of directors approved Agrawal and 'unanimously appointed' the new CEO. Dorsey also said that Bret Taylor has agreed to become the new Twitter board chair, which is another reason he will be stepping down, as he has confidence in Taylor to strengthen the board going forward.

Jack Dorsey is currently CEO of [Square](https://squareup.com/us/en), point-of-sale payments company that he founded before Twitter, and he will remain CEO of Square.

## Is Dorsey Focusing on Crypto?

Could this mean that Dorsey is focusing his efforts on the blockchain and cryptocurrency industry? He has previously [stated](https://twitter.com/jack/status/1424854924194729984) that bitcoin will eventually "unite the world" and become the world's 'single currency' in ten years.  

It is worth noting that Square's Cash App has added support for BTC trading, which indicates that he could be working on something bigger than his companies.

Jack Dorsey Steps Down as CEO of Twitter

Regulation of crypto is a major talking point right now, but Indian Prime Minister Narendra Modi’s comments on the subject have left some baffled.

Addressing the Sydney Dialogue, Modi made comments on [Bitcoin (BTC)](/coins/btc) and crypto regulation.

He said: ‘Democratic nations should work together on cryptocurrency to ensure it does not end up in the wrong hands.’

## Modi's Words on Twitter

Although it is unclear what the ‘wrong hands’ are, Modi’s words were considered important enough to be repeated on his [official Twitter feed](https://twitter.com/narendramodi).

His account tweeted: ‘Take cryptocurrency or Bitcoin for example. It is important that all democratic nations work together on this and ensure it does not end up in \[the\] wrong hands, which can spoil our youth.’

Also during the address Modi said: ‘We are at a historic moment of choice. Either all the wonderful powers of technology of our age will be instruments of cooperation or conflict, coercion or choice, domination or development.’

## Social Media Speculation

The comments sparked social media speculation that India may be on the verge of a China-style crackdown. Many, however, felt the comments meant little more than Modi supports responsible crypto regulation.

There is interest in India’s crypto stance, as the country is reported to be considering its own central bank digital currency (CBDC) project. This could arrive next year, although progress by the central Reserve Bank of India (RBI) has been considered slow.

A media report in India this week said the RBI is still examining ‘matching domestic priorities with design features’.

While limited trials of the proposed CBDC are pencilled for next month, a national rollout looks unlikely any time soon.

Despite the way some have interpreted Modi’s comments, India is thought unlikely to want to restrict crypto access in the way China has.

Do Modi's Comments Signal Crypto Shift in India?

It's time for Twitter Crypto... social media giant Twitter is creating a team dedicated to cryptocurrency and related tech, it has been announced.

Taking to the platform on Wednesday, [Tess Rinearson](https://twitter.com/_tessr) confirmed she has been appointed to lead the new team.

She said Twitter Crypto will explore future opportunities to support users with an interest in cryptocurrency and digital assets as it looks to ‘push the boundaries’.

## A New Team for Crypto

Rinearson, who has previously worked at Interstellar and Tendermint, tweeted: ‘I’m thrilled to share that I’ve joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralized technologies—including and going beyond cryptocurrencies.

‘As I build out the team, we’ll be working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto. Twitter truly “gets” crypto (hello bitcoin tipping & NFTs!) but there’s so much more to explore here.

‘First, we’ll be exploring how we can support the growing interest among creators to use decentralised apps to manage virtual goods and currencies, and to support their work and communities.

‘Looking farther ahead, we’ll be exploring how ideas from crypto communities can help us push the boundaries of what’s possible with identity, community, ownership and more.

‘And, of course, we’ll be working closely with the @bluesky team to help shape the future of decentralized social media (and to make sure that Twitter stays on the cutting edge of this new landscape, too!).’

She concluded: ‘Twitter Crypto will underpin all of this work, and serve as a “center of excellence” for all things blockchain at Twitter. We’ll be hiring for roles in engineering and product. If this sounds exciting, please get in touch!’

## Jack Dorsey Influences Crypto Adoption

The Twitter Crypto move isn’t entirely a surprise, given founder Jack Dorsey’s public position on crypto. His firm Square Crypto made its first appointment back in 2019, former Google product management expert Steve Lee, for example.

In addition, Square last year bought $50m of BTC and, in July, it said it is trying to buld a hardware wallet.

Dorsey has already said Bitcoin will be a big part of his commercial future. Earlier this year, he confirmed he was putting money forward to help fund BTC development, both in a venture which also involved rapper Jay-Z and through the Massachusetts Institute of Technology (MIT).

Twitter Embraces Crypto with Dedicated Team

Despite advancements in the cryptocurrency industry, crypto trading is largely governed by fear of missing out (FOMO).

Investors tune in to the latest news and hype and attempt to maximise profits in as short a period as possible. I believe in investing keeping a long-term vision.

Here are some popular tips on steps you can make part of your investment strategy, and maybe reduce your fear of missing out.

### 1.     Follow eminent personalities and important crypto accounts on Twitter

If you are not on Twitter in this day and age, you are missing out. Before reading further, open the Twitter app, search for Elon Musk, follow him and turn on notifications! Whenever he posts in favour of Dogecoin, Shiba Inu, Bitcoin or Ethereum, expect crypto prices to rise.

Follow influential crypto personalities, accounts that track whale behaviour, the official accounts of crypto projects you favour, trustworthy crypto news accounts and relevant hashtags and topics. In fact, you should create a Twitter List to keep track of these accounts.

### 2.     Look out for new listings on exchanges

As soon as a new crypto token hits an exchange, more often than not its price skyrockets immediately, albeit for a short duration. Jump on the bandwagon but be careful, you could incur a heavy loss if you do not invest wisely and quickly – you should know when to move in and out!

### 3.     Learn to read between the lines

News that is not related to the crypto industry could have an indirect impact on the demand for a crypto asset. For example, Facebook’s rebranding to Meta saw the prices of Metaverse-related tokens like Decentraland (MANA) and Ethverse (ETHV) jump considerably.

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Crypto Blockchain Industries: What to Know

It looks like Elon Musk has done it again. A seemingly innocuous three-word tweet from the Tesla and SpaceX founder saw a spike in the value of little-known Floki.

Musk simply shared a picture of his new Shiba [Inu](/news/article/akita-inu-coin) puppy with the caption “Floki has arrived”. Sweet sentiment, but the tweet went viral and spikes in the value of cryptocurrency with similar names were soon recorded.

The biggest winner was Shiba Floki which saw a 958.09% surge within one day of the tweet, according to reports.

## Floki Token Increase

Floki Inu witnesses increases in excess of 59% in a 24-hour period. Others, including Floki Shiba and Super Floki, also saw value rises.

It is not the first time a tweet from Musk has apparently impacted on markets; comments around Dogecoin and Bitcoin have seen values change.

Dogecoin prices also seemed to be affected by the Floki tweet. Perhaps this is unsurprising as the tweet featured a picture of a Shiba Inu dog. Dogecoin gained by 0.36% following the latest post from Musk, while Baby Doge Coin saw a 24-hour surge of 45.3%

## Shiba Inu Rises

Previous tweets from Musk have had a similar impact on Floki-related cryptocurrencies. Last month, when he said he would name his new pet Floki, Shiba Inu saw a 16% price rise.



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