Twitter Deal Boosts Price of Musk Favorite Dogecoin


Dogecoin is up 9% after news that Elon Musk, a prominent supporter of the cryptocurrency, bought Twitter, Coindesk reported on Monday (April 25).

The report notes that DOGE rose as much as 14 cents at that time.

Musk has also mocked DOGE payments on Twitter in the recent past.

Meanwhile, cryptocurrency exchange Kraken has obtained a Financial Services Permit (FSP) license from the Abu Dhabi Global Market, which will allow it to operate a regulated exchange in the United Arab Emirates (UAE), Coindesk wrote on Monday. .

The ADGM is a free zone for financial companies to establish themselves in the UAE capital, providing services to the MENA region, such as access to cryptocurrencies through regulated financing, trading and custody services in the local currency dirham.

In other news, Bitcoin extended this month’s losses in Monday trading, Bloomberg wrote.

The report noted that investors are moving away from risky assets as there has been a more aggressive outlook for Federal Reserve policy.

The crypto slid around 3.3% and reached $38,223, which was the lowest level since March 15.

Meanwhile, OpenSea has bought Gem, the largest NFT market aggregator, a company blog noted.

The company says this will help in its mission to bring NFT to more people in the world, especially as the community continues to grow.

Gem, the company said, has created an “incredible product with the leading feature set for professional users, which grew seemingly overnight on community engagement and enthusiasm.”

Gem’s product allows users to purchase NFTs on multiple markets in a single, low-cost transaction.

The Central African Republic is reportedly looking into legalizing Bitcoin for its financial markets, according to a report of a new bill passed by lawmakers there.

The bill was introduced by Justin Gourna Zacko, minister for the digital economy, posts and telecommunications, on Thursday (April 21).

The law creates a favorable environment for the growth of the cryptocurrency sector in the region.



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