Elon Musk Denies Ownership of Dogecoin Wallets in Lawsuit [ Crypto Espresso 6.19.23 ]

It's Monday and also happy Juneteenth to Our us viewers I'm your host Andrew and This is crypto espresso your teeny tiny Daily shot of caffeinated crypto Headlines and let's go first up Documents released by the New York Attorney general reveal that tether Holdings Limited the issuer of the Largest stablecoin usdt confirms Long-standing speculation about tether's Exposure to Chinese commercial paper While tether denied having any exposure To China ever Grand group's debt it did Not disclose whether it held Securities Of other Chinese companies according to The documents tether held securities Issued by Major state-owned Chinese Companies such as ICBC CCB and Agricultural Bank of China as well as Securities from other companies like Deutsche Bank and Barclays Bank tether's Banking relationships and lending Activities were also detailed showing Significant loans to third parties and Accounts held at various Bahamian Banks The documents provide insights into Tether's operations and its reserves as Of March of 2021 tether faced Speculation about its Reserves during The tumultuous summer of 2022 but it Reiterated its commitment to liquidity And debunked rumors about its commercial Paper portfolio crypto investigator Zach Xbt has garnered over 1 million dollars

In donations from the cryptocurrency Community following a defamation lawsuit Notable figures like chiangpang Zhao CEO Of binance and Justin's son Tron founder And wobi advisor have shown their Support for Zack the lawsuit filed by Musician and Tech entrepreneur Jeffrey Huang relates to an article posted a Year ago where Zach accused Huang of Embezzling ethereum from a defunct Crypto treasury management platform Zak Xbts call for help on Twitter prompted a Surge of contributions with his digital Wallet now containing substantial Amounts of stable coins like usdc and Tether as well as ethereum and polygon Tokens Zak xvt plans to return any Excess funds to donors proportionally Once his legal expenses are covered Zack Xbt known for his investigative work in The crypto space has been instrumental In uncovering scams and highlighting Security vulnerabilities the defamation Law lawsuit against him has also Revealed his identity which was Previously shrouded in mystery Tesla CEO Twitter CEO and all-around hilarious guy Elon Musk has denied allegations of Owning Dogecoin wallets connected to Insider trading amid an ongoing class Action lawsuit the lawsuit accuses musk Of participating in a racketeering Scheme to support the meme-based Cryptocurrency court records claim that

Two wallets associated with musk sold 1.4 billion Dogecoin amounting to over 124 million dollars during a two-day Period in April however musk's attorney Alex Shapiro dismissed the claims Stating that they're baseless and they Lack evidence the lawsuit which has been Amended by a group of Doge investors Accuses musk of Market manipulation and Taking advantage of his substantial Twitter following as well as his Appearance on NBC's Saturday Night Live Elon Musk known as the Doge father and Dogecoin CEO has been an outspoken Supporter of the meme coin often sharing Tweets about it Dogecoin initially Created as a joke back in 2013 has Gained significant popular Clarity and Market value currently ranking as the Ninth largest cryptocurrency with a Market cap of 8.7 billion dollars a new Protocol called and I am going to Probably mess this up because it's Pretty awkward to say ascriptions has Generated significant interest within The ethereum community allowing users to Create and share digital objects on the Ethereum blockchain similar to the Ordinals project on the Bitcoin Network At descriptions enable users to inscribe Non-financial data particularly images Directly onto the ethereum main chain Developed by Tom Lehmann the project Gained substantial traction with nearly

Thirty thousand ascriptions created in Less than 18 hours after its launch the Protocol leverages ethereum call data And it's considered cheaper and more Decentralized than using contract Storage while some mention that similar Technology has existed for years the Widespread awareness and Adoption of Ascriptions marks a new trend in the Ethereum community's openness to Innovation and experimentation the debut Of ascriptions has drawn parallels to The ordinals launch on bitcoin however The the ethereum community seems to have Shown a greater acceptance and finally San francisco-based crypto payments from Wire has announced its decision to wind Down operations in order to protect the Interests of its users and stakeholders The company has urged its users to Withdraw their assets from the platform By July 14th using wire's dashboard wire Clarified that the move was not a result Of pressure from Regulatory Agencies Parties interested in acquiring wire or Its subsidiaries were advised to contact 88 Partners via email the decision to Shut down comes after months of Speculation about the platform's future With wire previously denying reports of Its closure and claiming to just be Scaling back wire cited market Conditions as one of the main reasons For its decision to wind down operations

The company assured users that there Would be a separate process to recover Assets remaining on the platform after July 14th and that more information Would be shared on their website and Blog in the coming weeks wire's troubles Began when a deal for acquisition by U.S Tech company bolt fell through in September of 2022 subsequent currently Wire modified its withdrawal policy due To deteriorating market conditions back In early January then I'm not going to Make a segue for that last story because It just stinks but what doesn't stink is Liking this video subscribing to our YouTube channel and clicking on that Little bell icon to get buzzed whenever A new crypto espresso video goes live Because it helps us out thoughts on Today's episode drop me a line in that Comment section because I read those Comments don't think I don't read those Comments look at the bags under my eyes I can't sleep because of those comments Questions about our headlines or crypto In general take the plunge and desk Alex In that description below Alex is always A great resource for all things web 3 And the metaverse and that about does it For today as always I've been your host Andrew these have been your headlines And we'll see all of your beautiful Shining faces tomorrow