China News Official TheBitTimes.com

The Supreme Court of the United States (SCOTUS) has agreed to hear a case involving Coinbase’s million-dollar Dogecoin (DOGE) sweepstakes that ran around the time that Elon Musk was re-promoting the meme coin. The case, Coinbase v. Suski, centers on “whether, where parties enter into an arbitration agreement with a delegation clause, an arbitrator or a court should decide whether that arbitration agreement is narrowed by a later contract that is silent as to arbitration and delegation.” In other words, SCOTUS justices will decide whether Coinbase users’ case against the exchange will stay in arbitration or escalate to court. Coinbase claims that user disputes over the Dogecoin sweepstakes must go to arbitration, as outlined in its user agreement. A federal appeals court ruled otherwise, saying that the sweepstakes rules clearly stated that Californian courts had jurisdiction in case of a dispute. The appeals court reasoned that state-level sweepstakes regulations (to use...

The entire crypto market awaits the result of todays Federal Reserve presser, and traders are hopeful that positive news will trigger a price breakout to the upside. The United States equities markets rose after the consumer price index print on June 13 came in below expectations but Bitcoin (BTC) and the altcoins failed to recover. This suggests that cryptocurrency traders are focused on crypto-specific issues and are not buying on favorable macroeconomic news.  However, there is a ray of hope for the bulls because Bitcoin is still holding above the $25,000 support. MicroStrategy co-founder Michael Saylor said in a Bloomberg interview on June 13 that the regulatory crackdown by the Securities and Exchange Commission may be bullish for Bitcoin. Saylor expects Bitcoin’s dominance to hit 80% in the future as “mega institutional money” flows into crypto after the “confusion and anxiety” dies down.  Although Saylor’s views may sound comforting to the Bitcoin bulls, they should keep in mi...

Dogecoin is a popular meme coin that has inspired many other animal-themed cryptocurrencies. Its success has paved the way for a plethora of feline and canine counterparts that have flooded the realm of meme coins. Initially developed as a joke, meme coins have surprisingly gained immense popularity in recent times. Dogecoin can be credited as the catalyst for the surge in meme coins. This trend commenced with Dogecoin, and subsequently, a multitude of coins emerged, endeavoring to imitate the renowned DOGE father. However, the largest meme coin has not been in its best shape recently. With the meme coin trading considerably lower from its all-time high, let us dig deeper to find out whether Dogecoin (DOGE) will recover. Dogecoin in a Nutshell Developed in 2013 by Billy Markus as a lighthearted joke based on the “doge” meme, Dogecoin features a Shiba Inu dog as its logo and was initially used for tipping content creators on platforms like Reddit and Twitter. Initially,...

Macroeconomic headwinds continue to pressure the crypto market, but bulls appear steadfast on holding $28,000 for support and this could provide tailwinds for altcoins. Bitcoin’s (BTC) price initially dipped, but then recovered on April 3. The volatility happened after several OPEC+ members announced plans to cut oil production totaling 1.65 million barrels per day until the end of the year. Some analysts expect this move to tighten supply, resulting in higher prices at the pump. That may in turn boost inflation, warranting a continued hawkish stance from central banks. Initially, the United States Dollar index (DXY) rose but it could not sustain the intraday rally. This suggests that the market participants believe the event will not cause any major deviation in the Federal Reserve’s policy. A weaker DXY is generally considered a positive for risky assets. Daily cryptocurrency market performance. Source: Coin360 Cryptocurrencies have remained strong in the face of adverse macroeconom...

Elon Musk, CEO of Tesla and the owner of Twitter, conducted a poll on the social media platform, asking people if he should step down as the head of the tech company. Being the Dogecoin (DOGE) proponent that he is, the popular coin dived with the possibility of Musk stepping down. Should I step down as head of Twitter? I will abide by the results of this poll. — Elon Musk (@elonmusk) December 18, 2022 The final results of the poll have 57.5% agreeing with Musk stepping down. Musk has already said that he would abide by the results of the poll. Hence, it is very likely that he will step down as the Twitter boss. Dogecoin (DOGE), being a memecoin, is dependent on social media engagement and mentions for relevance. Musk recently hinted at DOGE being incorporated into Twitter’s upcoming payment option. However, the possibility of Musk stepping down has caused concern among the DOGE community. Many are worried that the plans for DOGE being a part of Twitter’s...