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Peter Schiff, a well-known figure in the world of finance and a vocal critic of cryptocurrencies, has found himself at the center of a questionable incident on Twitter today. In a brazen attack, hackers targeted Schiff to promote what appears to be a fake $GOLD coin scam.
The news of this hack came to light when it was announced on Twitter by none other than his own son, Spencer Schiff who, in stark contrast to his father’s views, holds a positive stance on crypto, particularly on Bitcoin.

DO NOT CLICK THIS LINK. My dad is in London and it’s 4 AM over there which means he was almost certainly hacked. He’s not responding to any of my texts. https://t.co/sHvQccCtLp
— Spencer Schiff (@SpencerKSchiff) June 3, 2023

Peter Schiff: Complicated Relationship With Crypto
The elder Schiff has, for years, consistently criticized cryptocurrencies, particularly Bitcoin, dismissing them as nothing more than a Ponzi scheme lacking any intrinsic value. However, in a surprising turn of events, Schiff last week unveiled a collaborative nonfungible token (NFT) art collection that will soon be auctioned on the Bitcoin network.

I haven’t converted. I think the value is in the art. An original oil painting and limited edition signed prints. The Ordinals help add value to the art by making it easier to prove authenticity. The Ordinals themselves could have extra value if it turns out I’m wrong on Bitcoin.
— Peter Schiff (@PeterSchiff) May 28, 2023

The response from the crypto community has been varied, evoking a range of emotions from confusion to amusement and even acceptance, particularly among proponents of alternative cryptocurrencies. Some have taken the opportunity to highlight the apparent hypocrisy in Schiff’s actions, given his long-standing hate of digital assets.
Exploiting The Narrative?
The motive behind the hackers’ decision to target Peter Schiff’s Twitter account becomes clearer when considering the narrative of a once crypto-critic turned crypto-believer. This transformation in Schiff’s perspective might have made him an appealing target, as hackers sought to exploit this newfound interest in order to promote a non-existent digital coin.
The fraudulent coin in question, $GOLD, holds no verifiable presence on the internet at the time of writing. It’s important to highlight that Peter Schiff has long been an ardent advocate for investing in gold.

The hackers’ strategy seems to hinge on the irony of promoting a coin related to gold to someone who strongly supports the traditional precious metal. By leveraging Schiff’s reputation as a gold proponent, the perpetrators likely aimed to gain credibility and capture the attention of unsuspecting individuals who might associate the coin with Schiff’s endorsement.
As for the younger Schiff, he hasn’t made an update regarding the incident, including the status of his father’s account and whether or not they’ve identified the individuals behind the attack.
On Target: Peter Schiff
At the time of writing, Peter Schiff’s fake $GOLD coin tweet remains visible on his profile.

This is why I am delighted to unveil the official launch of $GOLD, a groundbreaking cryptocurrency token poised to empower the #Web3 community, bridging the worlds of physical and digital currency.
Claim your $GOLD here: https://t.co/pj2vetpMP2 https://t.co/PiyPeAFeaC
— Peter Schiff (@PeterSchiff) June 3, 2023




-Featured image from Dado Ruvić/Reuters


Peter Schiff, a well-known figure in the world of finance and a vocal critic of cryptocurrencies, has found himself at the center of a questionable incident on Twitter today. In a brazen attack, hackers targeted Schiff to promote what appears to be a fake $GOLD coin scam. The news of this hack ca...

bitcoinist.com

BREAKING – Crypto Hater Peter Schiff Targeted In Fake $GOLD Coin Scam on Twitter Hack

The meme coin market has taken a hit in recent weeks, with most tokens suffering double-digit value drops.
Investors are now looking elsewhere for returns potential, given the current state of meme coin stalwarts like Dogecoin and Shiba Inu.
However, despite this red wave, several tokens are withstanding the tide and producing stellar results – providing a glimmer of hope for meme coin enthusiasts.
Waning Enthusiasm Hits the Meme Coin Market Hard
Data from CoinMarketCap reveals that total meme coin trading volume is down by 17% over the past day – highlighting the lack of excitement around these crypto assets.
Individual trading volumes are down across the board, with the main culprits being $DOGE, $SHIB, $PEPE, and $FLOKI. All four of these tokens have seen waning interest over the past week – with $DOGE being the only one providing signs of a reversal.

Meme coins seem to be following the market trajectory set by big players like Bitcoin and Ethereum. Both of these coins have posted losses in the past few days, dragging down their peers.
Moreover, the buzz around the meme coin niche has mostly faded with the dramatic fall of popular tokens like $PEPE and $WOJAK.
Investors in these coins have opted to cash in rather than wait for price to bounce back – leading to the dramatic value drops experienced in recent weeks.
Finally, there has also been an evident lack of innovation within the space since the breakthrough of Pepe in mid-April. Although many copycat coins have entered the fray, none were able to match Pepe’s impact, prompting investors to return to more established cryptos.
All told, these factors paint a bleak picture for the meme coin niche in the short term.
Wall Street Memes Ignites Hope After Raising $2.7 Million
Fortunately, several projects have begun to gain traction over the past week – with investors hopeful that they can spark the meme coin market back into life.
Leading the way in this regard is Wall Street Memes ($WSM), a brand-new meme coin from the creators of the ultra-successful Wall St Bulls NFT collection.
In 2021, this NFT collection made headlines when it sold out all 10,000 pieces in 32 minutes and raised $2.5 million.
According to OpenSea, 1,864 ETH worth of these NFTs have been traded since the collection launched – equating to over $3.5 million based on today’s exchange rate.

This collection’s incredible success led to the formation of a colossal community around Wall Street Memes, evidenced by the 523,000+ “degens” that follow the official Instagram account.
Wall Street Memes’ community benefits from an indirect link to the WallStreetBets subreddit. This subreddit played a significant role in the GameStop short squeeze, a market-rocking event two years ago
Now, Wall Street Memes’ team is looking to give back to the community by launching the $WSM token – allowing holders to benefit as the community grows.
Early investors can now buy $WSM tokens through the Wall Street Memes presale, which has raised over $2.7 million in just one week.
Clearly, Wall Street Memes stands as a beacon of potential amidst the current meme coin gloom – making it an exciting time to be a $WSM investor.
Visit Wall Street Memes Presale
AiDoge Redefining Meme Coin Landscape After Selling Out $15m Presale
Another meme coin that’s still making headway amidst the current market turmoil is AiDoge ($AI).
As its name suggests, AiDoge is an innovative meme coin that blends artificial intelligence (AI) concepts with a Doge-like theme – creating a unique and intriguing proposition for meme coin enthusiasts.
AiDoge’s flagship feature is its groundbreaking meme generator, which uses cutting-edge AI algorithms to create hilarious images using text-based prompts.
AiDoge users can easily capitalize on trending topics by instantly uploading these images to social media sites like Reddit and Twitter.

Per the project’s whitepaper, users can also earn tokenized rewards by uploading their memes to AiDoge’s public wall, where they will be voted on by other community members.
Central to the AiDoge ecosystem is $AI – the project’s native transactional token.
Users must buy $AI to use the meme generator, although many eager investors opted to purchase tokens through the project’s presale phase to gain financial exposure to AiDoge’s growth.
This led to AiDoge’s presale hitting its funding target of $14.9 million – although the development team is offering one final chance for investors to get involved before $AI is listed on major exchanges on June 19.
Investors can buy $AI through the project’s website for $0.0000336, which will be the token’s official listing price.
Visit AiDoge Website
Baby Doge Coin Acts as Beacon of Resilience for Investors
Lastly, Baby Doge Coin is also performing remarkably well, making it one of the few meme coins to post gains in the past week.
Per CoinGecko, Baby Doge Coin is up by 0.5% over the past seven days. Although this is a minor value increase, it’s a far cry from the sharp price drops experienced by most projects in the meme coin niche.
Moreover, $BABYDOGE is now the fifth-largest meme coin in the world, according to CoinMarketCap, boasting a market cap of nearly $300 million.

Naturally, most of the hype surrounding Baby Doge Coin is fuelled by its branding. Although it has no direct link to the Dogecoin project, many meme coin investors are opting to purchase tokens to capitalize on the association with $DOGE.
However, Baby Doge Coin is distinguishing itself with a focus on real-world utility. The project offers a custom-built DEX that allows community members to swap any token on the Binance Smart Chain.
Ultimately, the steady performance and rise in market cap of $BABYDOGE indicate that it’s captured the attention of meme coin lovers – making it an intriguing contender within the market.
Disclaimer: The above article is sponsored content, and it’s written by a third-party, and is intended for promotional purposes only. It does not represent the opinions or the views of CryptoPotato, and nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
The post As the Meme Coin Craze Shows No Signs of Slowing Down, Here Are 3 Tokens That Could Explode Next appeared first on CryptoPotato.

The meme coin market has taken a hit in recent weeks, with most tokens suffering double-digit value drops. Investors are now looking elsewhere for returns potential, given the current state of meme coin stalwarts like Dogecoin and Shiba Inu. However, despite this red wave, several tokens are with...

cryptopotato.com

As the Meme Coin Craze Shows No Signs of Slowing Down, Here Are 3 Tokens That Could Explode Next

Circle plans to launch USD Coin (USDC) natively on the Ethereum (ETH) scaling solution Arbitrum (ARB) on June 8th.
The stablecoin issuer says this native USDC will be the official version of the Arbitrum ecosystem and will eventually replace the USDC currently on Arbitrum that is bridged from Ethereum.

Explains the ETH scaling solution,
“Arbitrum will be working with ecosystem apps to provide a smooth transition of liquidity from bridged USDC to native USDC over time. There will be no immediate changes to the Arbitrum Bridge, and it will continue to operate normally for bridging USDC to and from Ethereum.”
Arbitrum says the benefits of a native USD Coin include institutional on and off-ramps via Circle and upcoming support from a cross-chain transfer protocol to get rid of bridge withdrawal delays. The native USDC will also be fully reserved and always redeemable at a 1:1 ratio for US dollars, according to Circle.
With a market cap of nearly $29 billion at time of writing, USDC is the second-largest stablecoin, behind Tether USD (USDT). USDC is the fifth-largest digital asset overall.
USDC briefly lost its peg to the dollar in March following news that Circle had $3.3 billion of its $40 billion cash reserves stuck in the collapsed Silicon Valley Bank (SVB). The stablecoin dropped to a low of $0.877 before quickly jumping back up to the $1.00 range around three days later.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Second-Largest Stablecoin To Launch ‘Natively’ on Ethereum Scaling Solution Arbitrum (ARB) Next Week appeared first on The Daily Hodl.


Circle plans to launch USD Coin (USDC) natively on the Ethereum (ETH) scaling solution Arbitrum (ARB) on June 8th. The stablecoin issuer says this native USDC will be the official version of the Arbitrum ecosystem and will eventually replace the USDC currently on Arbitrum that is bridged from Eth...

dailyhodl.com

Second-Largest Stablecoin To Launch ‘Natively’ on Ethereum Scaling Solution Arbitrum (ARB) Next Week

Elon Musk, the CEO and product architect of Tesla, has been accused of insider trading in a class-action lawsuit involving the meme coin dogecoin (DOGE). The plaintiffs accuse Musk of inflating the price of DOGE by 30% when he changed Twitter’s blue bird logo “to the Dogecoin Shiba Inu logo.”
Tesla’s CEO Accused of Insider Trading for Swapping Twitter’s Blue Bird for Doge
On May 31, 2023, a court filing was submitted in Manhattan alleging that Elon Musk engaged in insider trading and manipulated the price of dogecoin (DOGE). The lawsuit against Musk, titled “Johnson et al v. Musk et al,” was initiated last year as a class action in the Southern District of New York. In April of this year, Musk’s legal team attempted to have the case dismissed, with his attorneys arguing that there was no wrongdoing in tweeting about a legitimate currency.
However, investors involved in the class-action lawsuit argue that referring to DOGE as a “legitimate investment” is deceptive since they believe it holds no value whatsoever. In their latest amendment, filed on Wednesday, the plaintiffs discuss how Musk altered the Twitter logo. “The next business day after filing a motion to dismiss in the instant case Musk changed the Twitter blue bird logo to the Dogecoin Shiba Inu logo for three days, spiking the price of Dogecoin 30%,” the recent filing specifies.
The plaintiffs in the class-action lawsuit refer to nearly all of Musk’s actions related to DOGE. Along with highlighting the logo change, the filing also notes that Musk discussed altering the logo on March 26, 2022. After contemplating the idea of altering the Twitter logo in 2022, Musk eventually put his plan into action. The class-action complaint also acknowledges the subsequent tweets made by Musk in relation to the logo change.
The plaintiffs’ lawyers state:
Musk also sent out a Dogecoin promotional tweet in which a police officer is looking at a driver’s license with the blue Twitter bird logo while the driver, a Shiba Inu dog says, ‘(T)hat’s an old photo,’ implying that the Dogecoin symbol was Twitter’s new logo.
The attorneys claim that Musk shared another tweet centered around DOGE on the very same day. They further observe that Twitter reverted back to the blue bird logo on April 6, and insist that it caused dogecoin’s price to experience a sharp decline.

The plaintiffs assert that Musk falsely purports to have altruistic intentions and emphasize in the filing that he has allegedly been advocating for DOGE for a considerable duration. “By June 2022 Musk had already spent more than three years knowingly encouraging the public to invest in dogecoin,” the class-action filing contends.
Do you believe Elon Musk’s actions with Twitter’s logo change constitute insider trading or do you think it’s simply harmless tweeting? Share your thoughts and opinions about this subject in the comments section below.


Elon Musk, the CEO and product architect of Tesla, has been accused of insider trading in a class-action lawsuit involving the meme coin dogecoin (DOGE). The plaintiffs accuse Musk of inflating the price of DOGE by 30% when he changed Twitter&#8217;s blue bird logo &#8220;to the Dogecoin Shiba In...

news.bitcoin.com

Elon Musk Faces Insider Trading Accusations in Dogecoin Lawsuit Over Twitter Logo Change

Stablecoin provider, Circle Internet Financial, has revealed that its dollar-pegged token, USDC, will be natively introduced on the layer two (L2) blockchain Arbitrum on June 8. The announcement follows Circle’s disclosure of its euro-pegged coin, EUROC, merging with the Avalanche blockchain last week.
Circle Plans to Launch USDC on Arbitrum on June 8
On Thursday, Circle revealed that usd coin (USDC), the second largest stablecoin by market valuation, will make its debut on Ethereum’s L2 scaling network, Arbitrum. With a current market capitalization of roughly $28.8 billion, USDC ranks as the second-largest stablecoin. “USDC issued by Circle will be native to Arbitrum and will be considered the official version of USDC for the Arbitrum ecosystem,” Circle said on Thursday. “Over time, native USDC liquidity will grow and replace the currently circulating ‘bridged USDC’ liquidity that comes from Ethereum.”
Arbitrum also released a blog post discussing the impending USDC native support, asserting that it will provide numerous benefits such as enabling institutional on/off-ramps through Circle and its partners. Additionally, Circle’s Cross-Chain Transfer Protocol (CCTP) support is expected to eradicate delays related to bridge withdrawals. Furthermore, Arbitrum said that the upgradeable smart contract will permit Circle to implement future improvements for an enhanced user experience.
Arbitrum has decided to rename the Ethereum-bridged edition of USDC on block explorers as “USDC.e”. The team also plans to proactively engage with ecosystem applications and encourage them to adopt this change in their app user interfaces and documentation. “Arbitrum will be working with ecosystem apps to provide a smooth transition of liquidity from bridged USDC to native USDC over time,” the blog post elaborates. The developers also said that the functionality of the Arbitrum Bridge will remain unchanged for the time being.

The latest development coincides with Circle’s decision to remove U.S. Treasury bonds from USDC reserves, leaving only cash and overnight repurchase agreements. Moreover, EUROC, Circle’s euro-backed stablecoin, was recently implemented natively on Avalanche. In March, it came to light that Circle partnered with token protocol startup Noble to launch USDC on the Cosmos chain. Circle also announced its presence on Arbitrum’s Discord under the “usdc-circle-support” channel for those seeking answers to their questions.
What are your thoughts on Circle’s decision to bring USDC to Arbitrum? Share your thoughts and opinions about this subject in the comments section below.


Stablecoin provider, Circle Internet Financial, has revealed that its dollar-pegged token, USDC, will be natively introduced on the layer two (L2) blockchain Arbitrum on June 8. The announcement follows Circle&#8217;s disclosure of its euro-pegged coin, EUROC, merging with the Avalanche blockchai...

Lance Coin price	$3.37
Low - High 24H	$3.36 - $3.41
Market cap	N/A
Volume 24H	$50,884.00
All time high	$19.16 -82.39% November 12th 2021
All time low	$0.002623 128580.10% October 1st 2021
Genesis date	N/A

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