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Musk’s DOGE agency launches official website with Dogecoin logo

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Dogecoin (DOGE) saw a significant rally following cryptic comments from Elon Musk hinting at the formation of a “DOGE Agency.” The billionaire entrepreneur, known for his influence on the meme-inspired cryptocurrency, sparked speculation on social media, driving DOGE’s price up by 12% within hours. The remarks came during a SpaceX event, where Musk jokingly referenced the agency as a potential “mission control” for Dogecoin-related initiatives.

Musk’s continued support for Dogecoin has often caused market ripples, and this latest surge highlights the cryptocurrency’s unique relationship with his public statements. Analysts believe the rally also reflects the broader community’s enthusiasm for Musk’s vision of integrating DOGE into mainstream technology and business applications. However, the details surrounding the so-called DOGE Agency remain vague, leaving room for debate over whether this is a serious venture or another playful nod to Dogecoin culture.

The rally underscores Dogecoin’s enduring appeal as a speculative asset, despite criticisms of its lack of technological innovation compared to other cryptocurrencies. Musk’s influence has previously led to increased adoption, with Tesla accepting DOGE for merchandise purchases and SpaceX exploring its use in funding a lunar mission. If the DOGE Agency materializes, it could further legitimize Dogecoin as more than just a meme coin, potentially fostering partnerships or new use cases in the tech and finance sectors.

Dogecoin’s price momentum comes amid a mixed market environment, with other major cryptocurrencies showing modest gains. While some market observers caution against overreliance on Musk’s statements for investment decisions, the community remains optimistic about Dogecoin’s future. As the speculation continues, all eyes are on Musk for further updates about the mysterious DOGE Agency and its potential impact on the cryptocurrency’s trajectory.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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