Monster Legacy

Follow Benita

Benita's Twitter

Support Benita Writes

0xB44fbE2B10E7682a1d768E709CdD042fE9ae8B52

Cloudflare outage disrupts lots of activities for hours.

Elon musk sued for alleged 'dogecoin pyramid scheme '. 

Yahoo to lunch metaverse events in Hong Kong. 

Total value locked in DeFi is now 70% down from it's All Time High


WHAT A WEEK!


-CLOUDFLARE OUTAGE-


"Outage didn’t spread worldwide, but affected a lot of places.”

- John Graham-Cumming, the Cloudflare firm’s chief technology officer.

On Tuesday, there was a widespread outage that affected a large number of services including FTX, Discord, Omegle, DoorDash, Crunchyroll, NordVPN and Feedly.

Users began facing issues accessing some popular sites including Zerodha, Medium.com, news outlet Register, Groww etc. They were also struggling to use Coinbase, Shopify, and League of Legends.

The company didn't disclose what caused the issue.


-ELON MUSK SUED FOR ALLEGED 'DOGECOIN PYRAMID SCHEME'-


The world's richest man - alongside Tesla and SpaceX, the companies he is CEO of - are accused of "promoting Dogecoin to profit from its trading".

Recall that Dogecoin hit the headlines after surging dramatically last year.

In a little over four months, Dogecoin rallied from $0.004 to $0.73 - a gain of more than 18,000%.

Musk regularly tweeted about DOGE during that period, and on the day the coin began to fall, he described it as a "hustle".

Here's the gist,

A complaint filed in a New York court says: "Musk used his pedestal as the world's richest man to operate and manipulate the Dogecoin pyramid scheme for profit, exposure and amusement."

An American man called Keith Johnson who is suing Musk, alleges he was "defrauded out of money" as a result of the entrepreneur's endorsements.

Mr Johnson's lawyers assert that the cryptocurrency "has no value at all" - and court filings feature quotes from billionaires Bill Gates and Warren Buffett, who have both questioned the value of such digital assets.

Apparently, the plaintiff wants to represent those who have lost money through Dogecoin since 2019.

Beyond his demands for $258bn in damages, he also wants Musk, Tesla and SpaceX to be banned from promoting DOGE.


-YAHOO LUNCHED METAVERSE EVENTS IN HONG KONG-


Yahoo Hong Kong has launched a series of metaverse activities in the city to explore the use of immersive advertising technologies and to strengthen connections between individuals via metaverse.

Yahoo metaverse recreates a three-story multi-functional space with bars, NFT galleries, sports fields and rooftops in resemblance to Hong Kong's most iconic visual elements such as neon lights and skyscrapers.

From the look of things, Yahoo Metaverse, which combines sports, entertainment and lifestyle trends, will become an important milestone in the meta-universe.


-TOTAL VALUE LOCKED IN DEFI IS NOW 70% DOWN FROM ITS ALL TIME HIGH-


The TVL in defi today is down more than 70% from its December 2, 2021, all-time high (ATH) at $253.91 billion.

While a great number of cryptocurrencies including Bitcoin, (BTC), slid significantly in value, smart contract platform tokens and decentralized finance (defi), in general, suffered a great deal. Few days ago, Bitcoin.com reported on how defi and smart contract coins got slammed by significant blows and at the time, there was still $104 billion in value locked into a myriad of defi protocols.

Here are the facts:

~Makerdao’s TVL shed 15.19% during the past few days and the second-largest protocol in terms of TVL size, Aave lost over 40% last week.

~Today, ethereum commands the largest TVL size out of all the blockchains with $47.33 billion or 64.18% of the aggregate locked.

~The second-largest defi blockchain as far as TVL size is concerned is Binance Smart Chain (BSC) with $6.06 billion or 8.22% of the $74.27 billion locked in defi today.


WRITTEN AND EDITED BY

EZE BENITA

22ND JUNE 2022

0xB44fbE2B10E7682a1d768E709CdD042fE9ae8B52

ETH ADDRESS 

Crypto Blog Archive

Follow Benita

Benita's Twitter

Support Benita Writes

0xB44fbE2B10E7682a1d768E709CdD042fE9ae8B52