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<ul><li>Enthusiasts are now looking for a <keyword id="11244614" type="UNKNOWN" weightage="20" keywordseo="new-cryptocurrency">new cryptocurrency</keyword> that does not depend on Musk's "mood."</li><li>Crypto enthusiasts consider StopElon to be a movement: a shield from Musk's alleged manipulation.</li><li>The most recent dip in bitcoin's value was recorded to be more than 40% in just a few minutes.</li></ul>Tesla boss <keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword> was once a messiah for the <keyword id="8865756" type="UNKNOWN" weightage="20" keywordseo="crypto-community">crypto community</keyword> and played a critical role in making Bitcoin, Dogecoin, and other cryptos mainstream. In fact, if you asked someone three months ago why the valuation of crypto is consistently increasing, the answer would be Musk. But all of that has come to an abrupt end, and the tides are changing. Enthusiasts are now looking for a new <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> that does not depend on Musk's "mood." And they've come up with an ingenious name for it -- StopElon. It's an innovative <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> created to protest against Musk and his statements that allegedly manipulate the digital currency sphere. The new token emerged on Binance Smart Chain blockchain and has already recorded 5000% growth from $0.0000019 to $0.00009450. Musk's tweets have historically boosted the value of cryptocurrency, and he was regarded as a meme lord who'd change the world's financial system. He's the man behind PayPal, so it's safe to assume his understanding of the conventional system and futuristic blockchain is top-notch. However, he has taken a step back in the last two weeks as Tesla suddenly announced it'll <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-realised-that-he-cant-champion-both-renewable-energy-and-bitcoin-at-the-same-time/articleshow/82603087.cms">stop accepting Bitcoin</a> payments due to environmental concerns. Tesla accepting <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Bitcoin</a> was a monumental milestone, and many hoped it'll act as a precedent to encourage adoption. Musk has also tweeted a lot about Dogecoin, whose valuation was off the roof as everyone bought into the hype. Unfortunately, Musk backtracked his support at the American TV show, Saturday Night Live. He once even suggested that Tesla had sold, or was weighing selling its substantial stake in Bitcoin, causing yet another precipitously fall. Crypto enthusiasts consider StopElon to be a movement: a shield from Musk's manipulation. The founders don't want yet another token to fall prey to Musk's tantrums. Crypto traders and investors are frustrated because the volatility is too high, increasing the risk for all parties involved. The most <a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-cryptocurrency-drops-below-40000-but-buyers-are-hopeful-that-price-will-rise-in-the-future/articleshow/82765621.cms">recent dip</a> in Bitcoin's value was recorded to be more than 40% in just a few minutes. Viral meme crypto Dogecoin has also corrected massively, and millions of investors are now in a tight spot. On the official site of <a href="https://www.stopelon.space/">StopElon</a>, it reads, "A community created to destroy the biggest market manipulator of them all. He's toying with people's portfolio like candy, like the narcissistic billionaire he is and always will be." SEE ALSO: <a href="https://www.businessinsider.in/india/news/the-number-of-working-women-in-india-has-been-steadily-declining-heres-why/articleshow/82823052.cms">The number of working women in India has been steadily declining, here’s why</a> <a href="https://www.businessinsider.in/business/startups/news/esper-an-android-based-development-platform-raises-30-million-as-pandemic-accelerates-adoption-of-intelligent-devices/articleshow/82822560.cms">Esper, an Android-based development platform, raises $30 million as pandemic accelerates adoption of intelligent devices</a> <a href="https://www.businessinsider.in/tech/apps/news/clubhouse-for-android-is-now-available-in-india-but-it-may-be-too-little-too-late/articleshow/82821238.cms">Clubhouse for Android is now available in India, but it may be too little too late</a>

Crypto enthusiasts now hate Elon Musk; launch a new cryptocurrency called StopElon

<ul><li><keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword>’s new Twitter display image has him reflecting DOGE in aviators he’s donning.</li><li>The price of <keyword id="1985091" type="PERSON" weightage="20" keywordseo="dogecoin">Dogecoin</keyword> saw a 10% jump as a result but not as much as it would have a few months ago.</li><li>The price of the cryptocurrency has since dropped and wiped out half of its gains trading at $0.18.</li></ul>Tech billionaire Elon Musk may not have the power to move markets, but his actions can still produce a significant nudge. The Tesla and SpaceX chief executive (CEO) recently changed his profile picture to a headshot with DOGE reflecting in his sunglasses. <div type="Article" hostid="261" msid="84092582" title="Elon Musk is losing his power over the crypto community after his latest tweets failed to boost dogecoin or bitcoin" mstype="2" mssubtype="0"></div> There was no 10x rally, but the price of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Dogecoin</a> did see a 10% jump on Sunday as a result. The jump occurred despite Dogecoin co-founder Jackson Palmer making a quick return to Twitter to cite his dissatisfaction with the crypto industry. <div type="twitter" handle="ummjackson" handlename="Jackson Palmer" image="http://pbs.twimg.com/profile_images/1383999452948484105/lVgTGzAS_normal.png" favoritecount="15919" retweetcount="2028" status="Lose your savings account password? Your fault.Fall victim to a scam? Your fault.Billionaires manipulating market… https://t.co/zCNOT4esCB" createdat="1626281661000" id="1415353990208901123"></div> The change to Musk’s profile picture of Twitter came a day after he tweeted that his own son was “holding his Doge like a champ.” <div type="twitter" handle="elonmusk" handlename="Elon Musk" image="http://pbs.twimg.com/profile_images/1416443682157473795/dGtFbtht_normal.jpg" favoritecount="14507" retweetcount="2818" status="@AshleyIllusion1 @lexfridman Lil X is hodling his Doge like a champ. Literally never said the word “sell” even once!" createdat="1626540833000" id="1416441034469527556"></div> Dogecoin’s other co-founder Billy Markus took to Twitter to post his own meme about Musk’s market-moving powers — which are debatable considering that half of Dogecoin’s gains have already been wiped out with the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> currently trading at $0.18, according to CoinMarketCap. As compared to the days of yore, the crypto community has likely grown tired of Musk's tweets, possibly making his influence fade away as just another passing fad. <div type="twitter" handle="BillyM2k" handlename="Shibetoshi Nakamoto" image="http://pbs.twimg.com/profile_images/1416908024380149761/8eCx7XKR_normal.jpg" favoritecount="7961" retweetcount="1254" status="Elon Musk be like https://t.co/LRs6kEPgvB" createdat="1626563194000" id="1416534821619212291"></div> Dogecoin started out the year at around $0.004 but soared by more than 15,000% to $0.70 in May. The rally allowed some, like Goldman Sachs executive <a href="https://www.marketwatch.com/story/a-goldman-sachs-boss-has-reportedly-quit-after-making-millions-on-dogecoin-11620819754">Aziz McMahon</a>, to cash out and leave their jobs. Since the days of yore, the cryptocurrency has lost over 70% of its value. <cmsannotation type="cmsannotation" annotationid="Love him or hate him — Musk is the ‘Dogefather’" comment="subhead" text="Love him or hate him — Musk is the ‘Dogefather’">Love him or hate him — Musk is the ‘Dogefather’</cmsannotation> Dogecoin is an altcoin, which means when it was programmed into existence — the token was only meant to be a joke. But, along came Musk, who sent the price of Dogecoin all over the place with his Tweets and random mentions. In fact, the altcoin’s popularity and authenticity, in part, comes from Musk’s endorsements giving him the name — Dogefather. The crypto community has criticised Musk in the past of creating volatility with his comments. Some got so sick of his antics that they even created a cryptocurrency to get their message across called <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-enthusiasts-now-hate-elon-musk-launch-a-new-cryptocurrency-called-stopelon/articleshow/82829354.cms">StopElon</a>. Binance CEO Changpeng Zhao also called out Musk for his irresponsible commentary. "I think Elon Musk wants to be a humorous guy... But he has to realize that his tweets do have the power to move markets," <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-wants-to-be-funny-with-his-tweets-but-he-should-realize-his-power-to-move-markets-and-hurt-investors-binance-ceo-says/articleshow/83778721.cms">Zhao told Bloomberg in an interview.</a> <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/japan-is-increasing-vigilance-on-crypto-to-hire-more-employees-and-explore-cbdc/articleshow/84475780.cms">Japan is increasing vigilance on crypto — to hire more employees and explore CBDC</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/china-crypto-crackdown-is-now-going-after-forums-starting-with-coin-world/articleshow/84469671.cms">After closing down exchanges and other related businesses, China is going after crypto community forums like Coin World</a>

Dogecoin jumps 10% after Elon Musk’s Twitter profile picture change

<ul><li>According to media reports, an unofficial guidance from the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> has put banks and lenders on the edge.</li><li>There’s also not much that the exchanges can do, unless they want to sue the banks for wrongfully discriminating against them.</li><li>Industry executives have said that they are working to get more bank partners onboard.</li></ul><keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">Cryptocurrency</keyword> <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">exchanges</a> in India have been blocking deposits in Indian rupee for just about a week now. Two of the top exchanges — WazirX and Coinswitch Kuber — informed users that the last payment methods they had, PayTM, would also be shut down from May 20th onwards. Of course, these two aren’t the only ones who have been having troubles taking deposits from Indian users, platforms like Zebpay and Unocoin have also had to block all rupee deposits over the past few days. Why are rupee deposits not working? According to media reports, an unofficial guidance from the Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) has put banks and lenders on the edge. The informal communication from the RBI affected the already rocky relationship <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">crypto companies</a> and exchanges had with banks in India, and many banks started shutting down their bank accounts. “If you make any INR deposit via IMPS/NEFT/RTGS to our PayTM Bank account after 11:59 p.m IST, it will revert to your source bank account within 7-10 business days,” WazirX said in an official communication to users on May 20. When you make a deposit to any exchange, the money goes from your bank to a payment processor (also called a payment gateway), which then sends it to the <keyword id="6286377" type="UNKNOWN" weightage="20" keywordseo="Crypto-exchange">crypto exchange</keyword>’s bank account. In the current situation, you are free to make a transaction through UPI etc, but there are no accounts to receive that money on the other end. As a result, the transaction fails for all intents and purposes, and it takes days and even weeks to reverse the trail of cash back to your account. Can banks do this without an official directive? It’s just like a restaurant can reserve the rights of admission for its guests, banks can choose not to do business with any entity. This is why banks can stop doing business with crypto companies despite the Supreme Court striking down the RBI’s official directive in March last year. The RBI guidelines have simply put them on the edge, and they’re choosing not to lend money, fearing what future regulations might lead to. There’s also not much that the exchanges can do, unless they want to sue the banks for wrongfully discriminating against them. While India’s crypto industry has done well over the past year, it’s unlikely that crypto companies will want to take on expensive lawsuits right now. Industry executives <a href="https://www.livemint.com/market/cryptocurrency/crypto-exchanges-ops-hit-as-lenders-sever-ties-11621282141905.html">have said</a> that they are working to get more bank partners onboard. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-enthusiasts-now-hate-elon-musk-launch-a-new-cryptocurrency-called-stopelon/articleshow/82829354.cms">Crypto enthusiasts now hate Elon Musk; launch a new cryptocurrency called StopElon</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/a-massive-crash-in-cryptocurrency-prices-wiped-out-1-trillion-of-wealth-reports-suggest/articleshow/82829155.cms">Crypto roundup, 21 May 2021: Elon Musk effect, crypto crash, Bitcoin prices, $1 trillion wiped out and more</a>

Users not able to deposit money on Indian crypto exchanges right now, as banks get cold feet

National carrier <keyword id="2573" type="COMPANY" weightage="20" keywordseo="Air-India">Air India</keyword> on Friday reported that some information of its passengers has been compromised in a massive cyber data breach with its vendor SITA PSS. According to industry sources, the data breach has impacted other global airlines as well. Recently, systems of SITA PSS came under a cyber-security attack leading to personal <keyword id="6360618" type="UNKNOWN" weightage="20" keywordseo="data-leak">data leak</keyword> of certain passengers. The vendor is responsible for storing and processing of personal information of the passengers. In a statement on Friday, Air India said the incident has affected around 4,500,000 data subjects in the world. "The breach involved personal data registered between 26th August 2011 and 3rd February 2021, with details that included name, date of birth, contact information, passport information, ticket information, 'Star Alliance' and 'Air India' frequent flyer data (but no passwords data were affected) as well as credit cards data." "However, in respect of this last type of data, CVV or CVC numbers are not held by our data processor." The airline said it is investigating the data security incident, securing the compromised servers, engaging external specialists of data security incidents, and notifying and liaising with the credit card issuers. Furthermore, the airline said the data processor has ensured that no abnormal activity was observed after securing the compromised servers. "While we and our data processor continue to take remedial actions including but not limited to the above, we would also encourage passengers to change passwords wherever applicable to ensure safety of their personal data." "The protection of our customers' personal data is of highest importance to us and we deeply regret the inconvenience caused and appreciate continued support and trust of our passengers." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-enthusiasts-now-hate-elon-musk-launch-a-new-cryptocurrency-called-stopelon/articleshow/82829354.cms">Crypto enthusiasts now hate Elon Musk; launch a new cryptocurrency called StopElon</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/sbi-paying-out-dividend-for-the-first-time-in-four-yearsi/articleshow/82827412.cms">India’s largest bank is paying out a dividend for the first time in four years</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/salt-water-and-the-hunt-for-life-here-are-the-biggest-discoveries-about-mars-in-the-last-three-months/slidelist/82826310.cms">Salt, water and the hunt for life — Here are the biggest discoveries about Mars in the last three months</a>

You Searched For "stopelon cryptocurrency" and got 4 results

Crypto enthusiasts now hate Elon Musk; launch a new cryptocurrency called StopElon

Shivam Vahia

Dogecoin jumps 10% after Elon Musk’s Twitter profile picture change

Prabhjote Gill

Users not able to deposit money on Indian crypto exchanges right now, as banks get cold feet

BI India Bureau

Air India passengers' personal data leaked in a cyber attack does not include CVV number

IANS

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