Crypto Currents: Bitcoin Takes Hit After Breakup Meme From Tesla CEO

Blockchain, Technology, Smart, Bitcoin, Money

As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap.


Bitcoin fell after Tesla (TSLA) CEO Elon Musk posted a tweet Thursday night with a meme about a couple breaking up over the male quoting Linkin Park lyrics along with the hashtag #Bitcoin and a broken heart emoji. Following the tweet, the CEO added another post to the thread showing a couple videochatting with the female saying, "I miss you". Bitcoin dropped roughly 6% to $36,907.50 in pre-market trading early Friday morning.


Coinbase (COIN) said in a Tuesday post to its blog: "Starting Today Tuesday June 1, transfer DOGE into your Coinbase Pro account ahead of trading. Support for DOGE will generally be available in Coinbase's supported jurisdictions. Trading will begin on or after 9AM Pacific Time Thursday June 3, if liquidity conditions are met." The move came as the company also announced Tuesday Coinbase Card can be used with Apple Pay (AAPL) and Google Pay (GOOGL). "You can now use your Coinbase Card with Apple Pay and Google Pay to make it even easier to spend crypto at home and on the go," Coinbase stated in a Tuesday post to its corporate blog. "Starting this week, we'll invite select customers off the waitlist to begin earning up to 4% back in crypto rewards. If you're already on the waitlist for Coinbase Card, you'll soon receive an invitation to apply," the company added.


In a support page post, Google stated in part: "In August 2021, Google will update the Financial products and services policy to clarify the scope and requirements to allow the advertisement of cryptocurrency related business and services. Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google... All prior Cryptocurrency Exchange certifications will be revoked on August 3, 2021. Advertisers must request new Cryptocurrency Exchanges and Wallets certification with Google when the application form is published on July 8, 2021."

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