<ul class="summary-list"><li>A <keyword id="4084925" type="PERSON" weightage="60" keywordseo="newsmax">Newsmax</keyword> segment on Elon Musk hosting "Saturday Night Live" devolved into chaos on Monday.</li><li>Former Obama speechwriter David Litt had no intention of talking about Musk on SNL.</li><li>Instead, he pressed the Newsmax host on the network's election lies and legal woes.</li></ul>Despite airing <a href="https://www.businessinsider.com/newsmax-airs-election-fraud-correction-video-lawsuit-dominion-smartmatic-2020-12">lengthy legal disclaimers</a> to mitigate the legal fallout from promoting easily debunked lies about the <keyword id="7600569" type="UNKNOWN" weightage="60" keywordseo="2020-election">2020 election</keyword> being stolen, right-wing cable network Newsmax continues to be dogged by the "<keyword id="1234914" type="PERSON" weightage="60" keywordseo="Big-Lie">big lie</keyword>."In a Monday morning segment<a href="https://www.businessinsider.com/elon-musk-is-only-second-billionaire-ceo-to-host-snl-trump-2021-5"> about billionaire Elon Musk hosting "Saturday Night Live,"</a> the guest brought on to discuss the subject had other plans in mind."I did not watch 'Saturday Night Live.' I watched the clips. The show is on too late. Quite frankly, I don't think it's that funny anymore," Finnerty opened the segment by saying before complimenting former President <a href="https://www.businessinsider.com/donald-trump-scores-snls-highest-ratings-in-years-2015-11">Donald Trump on the ratings he received when he hosted the show back in 2015</a>.The guest, former Obama speechwriter David Litt, almost immediately pivoted to Newsmax's role in spreading lies about the 2020 election."I mean, what happened on 'SNL' this weekend was that people made stuff up, and then said it on television like it's true," Litt said. "And that actually happens pretty frequently in American TV.""For example, in 2020, <a href="https://www.businessinsider.com/newsmax-settles-dominion-executive-eric-coomer-defamation-lawsuit-and-apologizes-2021-4">Dominion Voting Systems sued Newsmax</a> over its false claims about election fraud," he continued. "Newsmax was lying to its own viewers, and Newsmax had to settle that lawsuit. Actually, I need to check in - are you still telling that lie or are you telling new lies?"Finnerty appeared caught off guard, and tried to pivot the segment back to the Tesla CEO and <a href="https://www.businessinsider.com/snl-elon-musk-dogecoin-hustle-future-currency-2021-5">so-called Dogefather</a>."Wait are we talking about - I'm sorry David, do you want to talk about something completely non-related and catch me on a Monday morning totally off topic, or do you want to talk about Elon Musk?" Finnerty said."Well, I can see why you don't want to talk about Dominion Voting Systems," Litt replied, "because, if you do, Newsmax could get sued and lose billions of dollars, because these are lies."Finnerty made one last plea to return the segment to Elon Musk and only Elon Musk."David, David, David - listen, that's fine, David. I know this is a very funy moment for you. I'm sure you didn't sleep last night as you prepared to sort of try and get the morning anchor on Newsmax."After Litt once again kept pressing Finnerty on the false claims surrounding the 2020 election, the host would not answer the guest's question on whether Dominion had any impact on the results."Oh that's unfortunate, because I was really excited about this interview," Finnerty said before cutting to commercial.

Newsmax segment on Elon Musk hosting SNL goes off the rails when former Obama speechwriter focuses on network's election lies and legal woes

<ul class="summary-list"><li>Scammers impersonating <keyword id="6355315" type="UNKNOWN" weightage="60" keywordseo="elon-musk">Elon Musk</keyword> have stolen more than $2 million in the past six months alone, according to the <keyword id="88852" type="ORGANIZATION" weightage="60" keywordseo="FTC">FTC</keyword>.</li><li>The number of scams has risen as many attempt to cash in on the cryptocurrency buzz this year.</li><li>The agency said people in the age group 20 to 49 were five times more likely to report losing money to fraud.</li></ul><keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">Crypto</keyword> scammers impersonating Elon Musk have stolen more than $2 million in the past six months alone, <a href="https://www.ftc.gov/news-events/blogs/data-spotlight/2021/05/cryptocurrency-buzz-drives-record-investment-scam-losses" target="_blank" rel="noopener">according to the Federal Trade Commission</a>. The activity comes amid exploding interest in crypto investing.The FTC said the fraudulent schemes have many forms, and so-called giveaway scams are among the most common. They're false setups supposedly sponsored by celebrities who promise to multiply or match the amount of cryptocurrency sent. Under such a scam, people send cryptocurrency directly into the scammers' wallets.It may not come as a surprise that the Tesla chief is among the figures being impersonated the most given his vocal opinions as a cryptocurrency enthusiast, which also seem to have market-moving effects.Musk, one of the prominent figures in the cryptocurrency space, has, several times in the past, moved the price of <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-elon-musk-dogefather-tweet-snl-host-crypto-bitcoin-2021-4-1030358546">dogecoin</a>, <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-elon-musk-gamestonk-tweet-extends-trading-rally-2021-1-1030009065">GameStop</a>, and <a href="https://markets.businessinsider.com/news/stocks/etsy-stock-price-elon-musk-says-kinda-loves-company-marketplace-2021-1-1030003607">Etsy</a>, among others.Most recently, <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">bitcoin</a> has been the asset caught in the middle of the billionaire's tweeting spree. Over the weekend, Musk - the <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-elon-musk-dogefather-tweet-snl-host-crypto-bitcoin-2021-4-1030358546">self-proclaimed Dogefather</a> - sent the price of the cryptocurrency plunging after he seemed to have suggested that <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-btc-elon-musk-tesla-holdings-cryptocurrencies-2021-5-1030435413">his electric vehicle company had sold its holdings</a>, and then clarifying that <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-btc-elon-musk-tesla-holdings-cryptocurrencies-2021-5-1030435413">Tesla, in fact, did not</a>.Read more: <a href="https://www.businessinsider.com/crypto-trading-investing-tips-crypto-tokens-hodling-trader-scott-melker-2021-5" target="_blank" rel="noopener">'Wolf of All Streets' crypto trader Scott Melker breaks down his strategy for making money using 'HODLing' and 100X trade opportunities - and shares 5 under-the-radar tokens he thinks could explode</a>Since October 2020, nearly 7,000 people have reported losses of more than $80 million on these scams at a median loss of $1,900 - 12 times the number of reports and nearly 1,000% more in reported losses compared to the same period last year.Another type of ploy, which topped the list as the most lucrative way to obtain <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword>, is the "investing" scam, FTC said. This typically involves impersonating a government authority or a well-known business."Sites use fake testimonials and cryptocurrency jargon to appear credible, but promises of enormous, guaranteed returns are simply lies," <a href="https://www.ftc.gov/news-events/blogs/data-spotlight/2021/05/cryptocurrency-buzz-drives-record-investment-scam-losses" target="_blank" rel="noopener">the agency said</a>. "But people report that, when they try to withdraw supposed profits, they are told to send even more crypto - and end up getting nothing back."Many told the FTC that they fed cash into <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> ATMs to pay fraudsters claiming to be from the Social Security Administration. Coinbase Global, a cryptocurrency exchange, is another commonly referred to business by scammers.As for the demographic profile of those being people targetted, the agency said people in the age group 20 to 49 were five times more likely to report losing money to scams compared to older age groups.People 50 and older were far less likely to report losing money, but on an individual basis, reported losses at an average of $3,250."Cryptocurrency enthusiasts congregate online to chat about their shared passion," the agency said. "And with bitcoin's value soaring in recent months, new investors may be eager to get in on the action."Cryptocurrencies have skyrocketed in 2021, hitting a <a href="https://markets.businessinsider.com/currencies/news/crypto-market-cap-bitcoin-doubles-to-2-trillion-rally-surges-2021-4-1030274638">$2 trillion market valuation</a> in April, just three months after it breached the $1 trillion mark. The rally is led by <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">bitcoin</a>, which has grown 51% year-to-date, <a href="https://markets.businessinsider.com/currencies/etc-usd?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingestm=ingest" target="_blank" rel="nofollow noopener">ether</a> at 354%, and <a href="https://markets.businessinsider.com/currencies/doge-usd?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingestm=ingest" target="_blank" rel="nofollow noopener">dogecoin</a> at around 10,300%.

Elon Musk impersonators have stolen more than $2 million through crypto scams, FTC says

<ul><li><keyword id="1985091" type="PERSON" weightage="60" keywordseo="dogecoin">Dogecoin</keyword>'s spectacular rise this year has led to one so-called whale's position ballooning to $22 billion in value.</li><li>A single digital wallet currently owns 36.7 billion dogecoin, or 28% of the cryptocurrency's entire supply.</li><li><keyword id="6355315" type="UNKNOWN" weightage="60" keywordseo="elon-musk">Elon Musk</keyword> warned back in February that the biggest risk to dogecoin is its extreme concentration among just a few holders.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestgest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Elon Musk <a href="https://markets.businessinsider.com/currencies/news/dogecoin-biggest-holder-owns-28-of-the-cryptocurrency-2021-2-1030093749">warned in February</a> that the biggest risk facing dogecoin is it's extreme concentration among just a handful of digital wallets.That warning is back in focus following dogecoin's more than <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-doge-rally-80-billion-valuation-crypto-markets-2021-5-1030392883">12,000% year-to-date rally</a>, as the top holder now owns $22 billion worth of the meme-inspired cryptocurrency, according to <a href="https://bitinfocharts.com/dogecoin/address/DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L-full">data from Bitinfocharts</a> as of Friday afternoon.Dogecoin address DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L first began buying the cryptocurrency on February 5, 2019 when it was trading at $0.0018 per coin, and currently owns 36.7 billion dogecoins. Dogecoin is up 34,567% since that first purchase back in 2019, with it currently trading at $0.62."If major Dogecoin holders sell most of their coins, it will get my full support," Musk <a href="https://twitter.com/elonmusk/status/1361094185412100096" target="_blank" rel="noopener">said in a tweet</a> on Valentines day. "Too much concentration is the only real issue imo [in my opinion]. I will literally pay actual $ if they just void their accounts."The top 100 dogecoin addresses own 67% of the total 129.5 dogecoin supply, currently worth more than $53 billion at nearly 87 billion dogecoins. And 450 dogecoin addresses own more than $10 billion worth of the cryptocurrency.Despite the risk, Musk continues to root for dogecoin, both <a href="https://markets.businessinsider.com/news/stocks/elon-musk-dogecoin-tweets-bought-for-son-crypto-bitcoin-tesla-2021-2-1030067740">on twitter</a> and <a href="https://www.cnet.com/news/elon-musk-talks-mars-neuralink-dogecoin-in-surprise-clubhouse-interview/">off.</a> Dogecoin's endorsement from Musk, and <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-doge-doubles-market-cap-18-billion-btc-coinbase-2021-4-1030304744">other celebrities,</a> has likely helped spark buying demand from traders and investors that want to <a href="https://www.businessinsider.com/what-is-dogecoin-2013-12">get in on the joke.</a>That will all come to a head this weekend, with Elon Musk <a href="https://www.businessinsider.com/elon-musk-saturday-night-live-snl-teaser-video-miley-cyrus-2021-5">set to host Saturday Night Live</a> for the first time ever. Many anticipate Musk will wade into dogecoin during the episode, further boosting its price.As to who is behind the massive whale account of dogecoins, no one is sure but many are guessing. Robinhood was believed by some to potentially own a large chunk of dogecoin, but CEO Vlad Tenev <a href="https://blog.robinhood.com/news/2021/5/6/fireside-chat-with-robinhoods-ceo-vlad-tenev-and-crypto-coo-christine-brown">put that rumor to rest on Thursday</a>.Some online forums have pointed <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-elon-musk-dogefather-tweet-snl-host-crypto-bitcoin-2021-4-1030358546">to the "dogefather" himself</a>, Elon Musk, as being behind the dogecoin whale account. This idea mainly stems from three separate transactions in the whale's wallet that each added 28.061971 dogecoin's, which reference Elon Musk's birthday of June 28, 1971. Read more: <a href="https://www.businessinsider.com/crypto-investing-strategy-dogecoin-tokenizing-equity-exodus-jp-richardson-millionaire-2021-4" target="_blank" rel="noopener">A crypto wallet founder breaks down how he secured $60 million within 5 days from investors wanting to back tokenized shares - and how he almost became a 'Doge millionaire'</a>But given Musk's warning on concentration risk and the fact that these transactions occurred in February, when Elon Musk was often tweeting and talking about dogecoin, these transactions were likely an homage to Musk rather than completed by Musk himself. Whether Musk's SNL appearance helps dogecoin reach <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-volumes-skyrocket-viral-tiktok-buying-spree-cryptocurrency-market-2020-7-1029377900">the $1.00 level so many TikTok users are praying for</a> will likely be known well before the identity of the cryptocurrency's biggest whale."Arguably the most entertaining outcome, the most ironic outcome, would be that Dogecoin becomes the currency of Earth of the future," <a href="https://www.cnet.com/news/elon-musk-talks-mars-neuralink-dogecoin-in-surprise-clubhouse-interview/" target="_blank" rel="noopener">said</a> Musk.

A mysterious Dogecoin whale now owns $22 billion of the meme-inspired cryptocurrency - and a warning made by Elon Musk in February is suddenly back in focus

<ul class="summary-list"><li>The story behind the world's largest <keyword id="1985091" type="PERSON" weightage="60" keywordseo="dogecoin">dogecoin</keyword> holder may be less fun than social media investors and Elon Musk fans would like.</li><li id="recirc"><a href="https://www.businessinsider.com/?hprecirc-bullet"></a>A dogecoin core developer told Insider it's likely the so-called <keyword id="11292949" type="UNKNOWN" weightage="60" keywordseo="whale-address">whale address</keyword> belongs to a crypto exchange. </li><li>However, it's impossible to truly verify the owner of the whale address until they come forward.</li></ul>The story behind the <a href="https://markets.businessinsider.com/currencies/news/single-dogecoin-whale-owns-22-billion-elon-musk-february-warning-2021-5-1030404506?utm_source=markets&amp;utm_medium=ingestgest">world's largest dogecoin holder</a> may be less fun than social media investors and Elon Musk fans would like.Ever since dogecoin's rally this year, news outlets (including Insider) and investors have been pondering who could be behind the $12 billion <keyword id="11292947" type="UNKNOWN" weightage="60" keywordseo="dogecoin-address">dogecoin address</keyword> <a href="https://bitinfocharts.com/dogecoin/address/DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L-full">DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L</a>. It's accumulated 36.7 billion dogecoins since 2019 and holds about 28% of overall dogecoin supply.While it's fun to speculate that the address belongs to a single individual who has been surreptitiously accumulating billions of dollars of the meme currency, it's more likely that the address is associated with a cryptocurrency exchange, said Patrick Lodder, a dogecoin core developer. As for the funny additions to the address, like the <a href="https://markets.businessinsider.com/news/stocks/15-billion-dogecoin-whale-address-buys-42069-more-coins-2021-5-1030452495">addition of 420.69 dogecoins to the account on Tuesday</a>, Lodder said those are likely just jokesters sending relatively small amounts of dogecoin to the well-known whale address for fun.Lodder, who has worked on <keyword id="1990795" type="PERSON" weightage="60" keywordseo="doge">doge</keyword> since 2014, clarified that anyone can send doge to a publicly listed address, so money coming into an address is never really a "clue" into the address' identity unless it's a very large increase."These are all jokers, that probably has nothing to do with the operator of the wallet, that's just people having fun," he said of the 420.69 addition, and of the additions of 28.061971 dogecoins three separate times, which reference Elon Musk's birthday on June 28, 1971.The whale address has accumulated over $12 billion of doge and very infrequently sells. The last time any doge left the wallet was a sale of 100 million coins in April 2021, the only such transaction of 2021.CoinDesk's head of research told Insider this dormant activity could mean the whale is not, in fact, an exchange, and simply an individual. But Lodder said it's possible this type of activity means the address is a cold storage wallet for an exchange. An exchange that custodies a lot of doge likely won't keep it on the server, but will offload its holdings into a safer offline storage like a cold wallet. That could also help explain why there's been plenty of additions to the address but not a lot of selling."This looks like somebody getting a lot of money into custody and putting that into a cold storage wallet so that it's more secure," Lodder told Insider. He later said in a follow-up email: "While it is fun to speculate about the ownership of wallets, the only way to be 100% sure of who owns what is when the owner comes forward with (cryptographic) proof. Even if you know everything there is to know about blockchain, there's always a chance that you come to a wrong conclusion without this proof, so I'd warn everyone to be careful when publishing assumptions." People have published plenty of assumptions in online forums about who the address could belong to. <a href="https://www.reddit.com/r/dogecoin/comments/lkwnny/mystery_solved_the_billionaire_dogecoin_whale_aka/">One account on Reddit</a> hypothesizes that this whale address could be one of Robinhood's many dogecoin addresses. The user traces on-chain data and hypothesizes that the address is one of Robinhood's cold storage wallets.Despite the Reddit post receiving 4,000 upvotes, there's still a swath of people who speculate the wallet could belong to the <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-elon-musk-dogefather-tweet-snl-host-crypto-bitcoin-2021-4-1030358546?utm_source=markets&amp;utm_medium=ingestgest">"dogefather" himself, Elon Musk</a>.Read more: <a href="https://www.businessinsider.com/crypto-trading-investing-tips-crypto-tokens-hodling-trader-scott-melker-2021-5" target="_blank" rel="noopener">'Wolf of All Streets' crypto trader Scott Melker breaks down his strategy for making money using 'HODLing' and 100X trade opportunities - and shares 5 under-the-radar tokens he thinks could explode</a>Lodder said that it's highly unlikely the account is a single person, but the best way to clear the air would be for the owner to step forward and claim the address. However, this would be risky considering how much money is in the account.Like many cryptocurrencies, dogecoin is decentralized. The absence of a central authority is at the heart of crypto's mission. It makes the asset more secure and less vulnerable to the whims of a single entity, but it also allows for rumours and speculation about the coin to sometimes go unchecked.Those rumors can be potentially dangerous to a cryptocurrency like doge and it's loyal investors, said Lodder. Speculation that there's a whale could cause people to panic-sell in expectation that the whale is going to dump all of their doge, he added.He said ultimately if the address did belong to an exchange, it would be beneficial to the dogecoin community if the exchange came forward. Most cryptocurrency exchanges don't disclose their addresses for dogecoin or any other various cryptos."It would be helpful for the dogecoin community, not even just doge but all crypto, if there was a good way to either independently verify that the books of a custodial exchange are in order, or to have an audit report from a professional firm that does the audit and certifies that everything is fine," said Lodder.He concluded: "That's a part of compliance that we're not truly seeing in crypto too often."

You Searched For "dogefather" and got 4 results

Newsmax segment on Elon Musk hosting SNL goes off the rails when former Obama speechwriter focuses on network's election lies and legal woes

Jake Lahut

Elon Musk impersonators have stolen more than $2 million through crypto scams, FTC says

Isabelle Lee

A mysterious Dogecoin whale now owns $22 billion of the meme-inspired cryptocurrency - and a warning made by Elon Musk in February is suddenly back in focus

Matthew Fox

A crypto expert breaks down who could be behind the dogecoin whale address that holds $12 billion

Emily Graffeo