This article is more than one year old

Dogecoin pumps after Twitter logo switch, Euler Finance hacker returns stolen $197m

Dogecoin pumps after Twitter logo switch, Euler Finance hacker returns stolen $197m
Polygon co-founder Sandeep Nailwal wants to grow the company's ties with other companies.

Elon Musk changes Twitter’s logo to Dogecoin’s amidst $258bn lawsuit

Twitter CEO Elon Musk seemingly triggered a Dogecoin pump on Monday after changing the social media’s logo to the shibu inu image associated with the cryptocurrency.

The Dogecoin’s price rocketed 30% on Monday following the Twitter logo swap.

Musk later tweeted a screenshot of an exchange he had with a Twitter user using the handle WSBChairman in March 2022, where he was encouraged to buy the social media platform and change the bird logo to a Dogecoin logo.

The move came only a few days after Musk asked a judge to throw out a $258 billion case involving his relationship with Dogecoin.

Stay ahead of the game with our weekly newsletters

Musk is currently being sued by a team of high-powered lawyers who allege that some of his tweets consist of market manipulation.

NOW READ: Goldman and BlackRock embrace tokenisation even as on-chain bonds branded a ‘failure’

Euler declares ‘all recoverable funds’ returned in $197 million exploit

DeFi protocol Euler Finance announced Monday that “all of the recoverable funds” stolen in a $197 million hack in March have been returned — though exactly how much that entails is still unclear.

The exploiter, who goes by the on-chain name “Jacob,” used a flash loan attack to borrow large amounts of assets without posting collateral, but weeks later apologised publicly and committed to returning the funds.

Join the community to get our latest stories and updates

Euler’s tweet said details of the recovery would be revealed Tuesday.

NOW READ: Waves founder’s role in lost $530m raises questions about who’s to blame

Polygon co-founder Nailwal outlines web3 goals for company

Polygon co-founder, Sandeep Nailwal, said Monday that “the mission for Polygon has always been the mass adoption of web3,” hinting at growing ties to consumer-facing companies.

Nailwal said the company can help expand the ways that consumer-facing companies “interact and engage with their customers.”

Polygon has already gained attention from companies such as Starbucks, Disney, and Salesforce.

Nailwal pointed out the benefits of web3 applications, such as self-custody and ownership of digital collectibles, and stated mass adoption may alleviate regulation woes for the industry.

NOW READ: Do Kwon prosecutor on how crypto king got caught: ‘Those passports were suspicious and that was the alarm’

Bitcoin outperforms all major US indexes in best quarter in years

A statistical cherry atop its best performing quarter since 2021, Bitcoin outperformed all major US indexes in the first quarter of 2023.

Bitcoin rose 73% from $16,000 to $28,500 since January, while the S&P 500 increased 7%, the Dow Jones rose 0.4%, and the Nasdaq had its best quarter since Q4 2020 with a 17% increase.

Gold also rose 7% in the first quarter.

NOW READ: Fidelity may beat hiring goal for a 500-strong crypto unit in sign of finance land grab

More web3 news from around the web…

Uniswap volume beats Coinbase and registers its best month since 2022 The Block

Huobi and Gala Games to give $50m to victims of pGala schemeCoinDesk

Yuga Labs joins Gucci to announce Otherside-themed jewelry Decrypt

Related Topics