Elon Musk Under SEC Investigation Due to DOGE
Rumor has it that Elon Musk is under investigation by the U. S. SEC investigation due to his tweets about DOGE (dogecoin). It can be recalled that his recent tweets boosted the price of DOGE (dogecoin).
Musk has been at odds with the regulatory body which started in 2018 when the U. S. SEC filed a lawsuit against him for allegedly misleading investors. He was also asked to pay a $20M fine as part of the settlement and step down as the chairman of Tesla.
During his interview with “60 Minutes”, he said:
“I do not respect the SEC. I do not respect them”
If the rumor is true, Elon Musk may find himself at a disadvantage due to his vocal tweets about DOGE (dogecoin). In some of his tweets, he even described himself as the “dogecoin CEO”. But he was not bothered and even welcomed the idea based on his reply to a Twitter user.
There were also speculations that this could be a part of DOGE (dogecoin) price manipulation but that remains to be seen. Let’s all wait and see what will happen next.
Philippine Exchange Resumes Operations After Major Glitch Due System Outage
PDAX, a Philippine-based exchange resumes operations on Tuesday after encountering a major glitch on Feb. 16, 2021.
In a press release, PDAX has pointed out that a system outage was the cause of the major glitch resulting in unfunded orders and system-wide errors. According to reports, PDAX users were able to buy BTC (bitcoin) at Php 300,000 (roughly $6,000) and transfer out of the exchange.
Nichel Gaba, PDAX Founder, and CEO stated that upon the discovery of the glitch, they immediately implemented a 36-hour system check to protect their users, the public, and the integrity of the market.
“When we discovered that an unfunded order made it to the system, we took the exchange down to prevent that order from affecting other accounts. We’ve recorded a total of 2,800 infected user accounts. However, we took the 36-hour outage to protect the public and crypto market. Today, we have already restored all accounts. Yet due to some certain measures that we’re still working on, withdrawals will remain a manual process.”
Philippine Digital Asset Exchange (PDAX) is regulated by the Bangko Sentral ng Pilipinas (BSP) and was founded by Nichel Gaba in 2017.
Robinhood Reports Increase in Crypto Transactions
The controversial trading platform Robinhood has recently reported an increase in its crypto transactions.
As stated in its report, in just less than two months this year, the platform has recorded an additional six million new customers. Robinhood further stated:
“By comparison, this number peaked at 401,000 in a single month last year, with a monthly average of about 200,000 customers trading on Robinhood Crypto for the first time during 2020.”
In its statement, Robinhood added:
“The numbers are clear: 2021 has started with a crypto bang.”
The recent report by Robinhood is an indication of the increased level of confidence of crypto investors in the controversial platform. Seems like things are going well with Robinhood this time.
Increase in the Number of Australian Investors Now in Crypto
Australians who have now ventured into crypto have surpassed the number of investors for other investments like gold and silver.
In a recently conducted survey, it was revealed that 12.6% of Aussie investors hold BTC (Bitcoin) or other cryptocurrencies. This is higher by 0.5% of the 12.1% that are into precious metals.
For Aussie crypto investors, BTC (bitcoin) and ETH (Ethereum) is by far their most preferred. 83.2% of the total crypto investors are into BTC (bitcoin) and 42% are in ETH (Ethereum). 28.5% holds XRP (Ripple), 18% are LTC (Litecoin) holders, and the remaining 12% are into BCH (Bitcoin Cash).
Most of these investors have shifted to cryptocurrency investment due to the market crash in March 2020 caused by the pandemic.
BTC Markets CEO Caroline Bowler stated that there has been an increase in the number of Australians aged 60 plus that has invested in crypto.
“In the last 12 months, we have seen a shift from 25-45-year-old males to a much broader age group, particularly early retirees who are interested in diversifying their investment portfolio and are catching up with this fastest-growing asset class.”
In research conducted by Independent Reserve Cryptocurrency Index (IRCI) in 2020 has also revealed that 20% of Australian young adults are into cryptocurrencies. Crypto investors are highly dominated by men with three times the number as compared to women. BTC (bitcoin) remains to be the most popular digital asset amongst investors based on the research.