Soon after, Shark Tank star and billionaire Dallas Mavericks owner Mark Cuban announced that BitPay handles “Mavs Doge sales,” also saying on the The Ellen DeGeneres Show: “At the Mavs, we sell a lot of merchandise for Dogecoin, and you should look at it for the Ellen Shop.”
At that point, crypto newbies eager to make a quick buck clamored to open accounts on welcoming trading platforms like Robinhood and cryptocurrency exchanges like Coinbase. DOGE started buzzing, inexperienced speculators flocked, HODLer’s held on, and just before Musk’s opening monologue, Dogecoin topped out at nearly $0.75. Musk’s performance was uninspiring, and Crypto Twitter was unimpressed. During a skit later in the show, Musk’s character said Dogecoin was a “hustle.”
Dogecoin began its precipitous descent. FOMO, as it so often does, led to FUD — sometimes sad, desperately delusional FUD. Two of Washington, DC’s most prolific, competitive politicians took notice and quickly took up positions on either side of the cryptocurrency regulatory debate.
NFTs for good Despite the bad rap, NFTs can be a force for good DECEMBER 2, 2021 Lines in the sand: US Congress is bringing partisan politics to crypto Lines in the sand: US Congress is bringing partisan politics to crypto NOVEMBER 29, 2021 6 Questions for Lyn Alden Schwartzer of Lyn Alden Investment Strategy 6 Questions for Lyn Alden Schwartzer of Lyn Alden Investment Strategy NOVEMBER 28, 2021 6 Questions for Mati Greenspan of Quantum Economics 6 Questions for Mati Greenspan of Quantum Economics DECEMBER 5, 2021 Shanghai Man: CZ is wealthiest Chinese person with $90B, NFT yachts, and MonoX hacked Shanghai Man: CZ is wealthiest Chinese person with $90B, NFT yachts, and MonoX hacked DECEMBER 2, 2021 NFTs for good Despite the bad rap, NFTs can be a force for good DECEMBER 2, 2021 Lines in the sand: US Congress is bringing partisan politics to crypto Lines in the sand: US Congress is bringing partisan politics to crypto NOVEMBER 29, 2021 6 Questions for Lyn Alden Schwartzer of Lyn Alden Investment Strategy 6 Questions for Lyn Alden Schwartzer of Lyn Alden Investment Strategy NOVEMBER 28, 2021 6 Questions for Mati Greenspan of Quantum Economics 6 Questions for Mati Greenspan of Quantum Economics DECEMBER 5, 2021 Shanghai Man: CZ is wealthiest Chinese person with $90B, NFT yachts, and MonoX hacked Shanghai Man: CZ is wealthiest Chinese person with $90B, NFT yachts, and MonoX hacked DECEMBER 2, 2021 NFTs for good Despite the bad rap, NFTs can be a force for good DECEMBER 2, 2021
Cue Senator Warren Musk’s apparent market manipulation and his Saturday Night Live appearance weren’t the only motivators for Senator Elizabeth Warren to speak out about cryptocurrency. She certainly must have noticed the market’s seesaw-like reaction to China banning cryptocurrency transactions for financial institutions on May 18.
Warren has also expressed concerns about token volatility in the past, criticizing Robinhood’s checkered history of alleged cheating — having frozen out traders from selling Dogecoin when it was tanking on May 8, just after Musk’s SNL appearance. On June 9, Warren talked to Bloomberg Technology about crypto, telling the publication: “It’s the Wild West out there, and it makes it not a good way to buy and sell things and not a good investment — and an environmental disaster.”