What happened in the world of crypto over the weekend? Read U.Today’s news digest to find out!
U.Today has prepared a summary of the top three news stories over the weekend. Don’t miss anything important in the crypto industry!
Elon Musk’s $1 million Dogecoin challenge backfires
Less than two weeks ago, Tesla CEO Elon Musk decided to put an end to speculation regarding his family’s alleged ownership of an emerald mine and took to Twitter to offer 1 million Dogecoin to anyone who can prove that the mine indeed exists. However, no one expected that the challenge would end up this way. In an exclusive interview with The U.S. Sun, Elon Musk’s own father, Errol Musk, stepped forward, saying that he could provide evidence of the mine’s existence. Errol Musk joked about his reaction to Elon’s challenge: “When I read that, I wondered, ‘Can I enter, because I can prove it existed.’ ” Musk’s father explained that all of his children knew about the emerald mine, adding that it was his emerald venture that contributed to his son Elon’s initial success in the United States.
Binance’s CZ warns against getting into certain meme coins
Changpeng Zhao (CZ), head of Binance leading crypto exchange, has recently issued a warning for his followers. He explained that there are some people on Twitter who try to buy the accounts he follows and then use them to launch meme coins, advertising them as “supported by CZ.” The Binance CEO then urged his followers not to get into these cryptocurrencies and to evaluate the risks of such a decision in advance. Earlier this weekend, CZ tweeted about the four important things he plans to focus on this year as part of his work with Binance: education, compliance, products & services, and paying less attention to FUD, fake news and attacks. He issued these four dos and don’ts back on Jan. 4.
Ripple plans to help 3.7 billion people, here’s how
Fintech giant Ripple recently announced its plans to help over 3.7 billion people who are either unbanked or underbanked around the world. According to the company’s tweet posted on Earth Day, one of the most urgent issues of the century is the global climate crisis, and blockchain innovation in carbon markets can assist in achieving global environmental goals. Ripple believes that offering low-cost and always-on money transfers in emerging markets and creating a central bank digital currency platform for governments working to improve financial inclusion are two methods to address the issue. Apart from this, the company claims that its XRPL is the world’s first blockchain to be carbon neutral, and its framework has the potential to provide green cryptocurrency solutions and more productive carbon markets.