Musk’s move has had a knock-on effect on a popular crypto currency
Elon Musk hasn’t owned Twitter for six months, but he’s already modified it so much that he’s barely recognizable.
After thousands of layoffs and scams from creditors claiming they’re still owed money, Musk recently tried something different with a fundamental aspect of the company.
DON’T MISS: Musk’s move has had a ripple effect on a popular crypto currency
Musk’s reasons for making the switch were never made clear, though the potential to troll a lot of people is surely one of them.
But for whatever reason, on April 3, Musk abruptly changed the Twitter logo from the familiar blue bird to the Dogecoin Shiba Inu. dog icon.
Musk has repeatedly expressed his support for the cryptocurrency, which was created as a joke before gaining a large following.
The appearance of the Doge icon on Twitter instantly sent prices of the cryptocurrency soaring, although it remained well below its all-time high set in 2021.
the dog leaves
But now, Musk has backtracked and restored Twitter’s familiar bluebird logo to the microblogging website.
And sure enough, within moments of the change, Doge’s prices began to fall.
This all comes as Musk is facing a huge lawsuit alleging that he rigged Doge’s prices causing huge losses.
Musk’s lawyers recently urged a federal judge to throw out the $258 billion lawsuit. “There is nothing illegal about tweeting words of support or funny images about a legitimate cryptocurrency that continues to have a market capitalization of nearly $10 billion,” Musk’s lawyers wrote in a court filing, Reuters reported.