2023-04-14

🥊 Dogs and Boxers Fight Back

April 14, 2023

Happy Friday, fellow DailyCoiners,I trust you are well and feeling groovy. This week Bitcoin broke and held $30k and Ethereum blasted through $2k…and then $2.1k!

Let's dive into today’s stories without further ado, and boy, are we finishing the week strong!

🍎 Elon Has a New Teacher's Pet…But DOGE Doesn’t Care
🥊 Ripple Comes Back Fighting
📱 The Solana Phone to Compete with Apple and Samsung? 🤣

Doge Climbs, Despite Elon

Long the lovechild of Mr. Musk, Doge historically jumps when Elon barks…but not today!

Over the last 24 hours, the Doge price has pumped by over 8%. Yes, the whole market had a good day, but Doge pumping without Elon…that’s new!It wasn’t as if Elon was having a quiet day, either. He tweeted in a trademark mysteriously cryptic message, “AI APT OTT.”Many took this to believe he was pumping the Aptos token (APT), which then, predictably, jumped by approximately 7.5%.In a similarly Musk-esq style, he then deleted the tweet causing the APT price to plummet by the same amount.

More evidence that Elon just loves messing with us!

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Did Ripple Just Deliver the Knockout Punch?

In the long and drawn-out bout, which seems to have lasted forever, I think we’re getting down to Hail Marys and two exhausted fighters throwing everything they can, regardless of whether it lands!

As a reminder, the SEC’s legal team earlier filed a letter of supplemental authority in further support of its summary judgment motion.The SEC referred to a District of Massachusetts court’s decision denying the defendants ‘fair notice’ argument and siding with the financial watchdog in a securities fraud case.

Ripple's lawyer, Michael K. Kellogg, referred to the decision as “an out-of-circuit, unpublished district court opinion.”Jab🥊He added:“There is also abundant evidence that the SEC was not only aware of the widespread regulatory confusion but helped to sow it by repeatedly offering (and then disclaiming) vague guidance that differed from the Howey test.”Right Cross🤛Finally, Kellogg finished off by taking aim at the regulator’s brag of other court decisions throwing out the defendants’ ‘fair notice’ arguments, stressing again that they had nothing to do with the case against Ripple:“The SEC’s boast of the ‘unbroken chain of district court decisions rejecting fair notice defenses, on summary judgment, in SEC enforcement actions’ is irrelevant. (…) The Court has already rejected the SEC’s reliance on these cases.”

Uppercut…SEC Hits the Canvas!🥊🔥

Solana…Delusions of Grandeur?

The chances are you either have an iPhone or a Samsung smartphone. The two tech giants control 86% of the US smartphone market.Challenging any of these two would be difficult, to say the least.

However, Solana thinks they may have an edge that will floor the giants.Solana Mobile, a subsidiary of Solana Labs, will publicly launch its blockchain-integrated Android smartphone, Saga, on May 8. The $1,000 phone, which is already shipping to customers who pre-ordered it, is designed to make it easy and secure for users to transact in Web3 and manage digital assets like cryptocurrencies and NFTs.It’s true; a smartphone that has Web3 built-in does sound good. However, there are two obvious problems.

Apple and Samsung phone users are incredibly tribalistic; changing brands is unlikely (especially to a new kid on the block).
Anyone who’s been in crypto for a while knows about the unreliability of Solana to keep their blockchain running…would their phone be any different?

At least you won’t need to contact customer services if there’s a problem with it. Everyone knows you only need to turn a Solana product off and back on again to “fix” it!