An attempt to capitalize on the ongoing hype around Dogecoin has backfired for the crypto wallet app Freewallet after it was called out online in a tweet from Elon Musk.
Musk Proclaims ‘Your app sucks,’ In Blunt Tweet Directed at Freewallet
Freewallet, riding on the Elon-Doge rocket of publicity, released a tweet telling people to buy and exchange Dogecoin in its crypto wallet app with a tag of the man himself.
Tagging Elon Musk comes with its own risk, as apparent from the blunt reply:
Your app sucks
— Elon Musk (@elonmusk) February 10, 2021
An hour later, Musk decided to expand on his claim by jumping from his role of executioner to an educator:
Any crypto wallet that won’t give you your private keys should be avoided at all costs
— Elon Musk (@elonmusk) February 10, 2021
As expected, Musk’s followers rallied behind him and joined in on the action, leading to an entourage of critical posts being directed towards the crypto app. Full thread here.
Musk’s criticism of crypto wallets and his love for Dogecoin shouldn’t come as a surprise. The price of Dogecoin soared by 60% last week in response to a tweet he made, in which he posted an iconic scene from the Lion King that’d been edited to show him holding up the Shiba Inu dog, the face of Dogecoin, instead of Simba.
The distaste for crypto wallets and trading platforms from Musk is as equally expected. It follows his open criticism of the decision taken by several platforms to cease trading of Gamestop shares after the price of the company soared to nearly $400 a share.
if (!window.GrowJs) { (function () { var s = document.createElement(‘script’); s.async = true; s.type = ‘text/javascript’; s.src = ‘https://bitcoinads.growadvertising.com/adserve/app’; var n = document.getElementsByTagName(“script”)[0]; n.parentNode.insertBefore(s, n); }()); } var GrowJs = GrowJs || {}; GrowJs.ads = GrowJs.ads || []; GrowJs.ads.push({ node: document.currentScript.parentElement, handler: function (node) { var banner = GrowJs.createBanner(node, 31, [300, 250], null, []); GrowJs.showBanner(banner.index); } }); This prompted a backlash from many retail traders and high-profile figures, such as American politician Ted Cruz. Musk went on to grill Robinhood’s CEO Vlad Tenev during an interview on the social network Clubhouse, which 5000 Clubhouse users listened to (and many many more on various live streams that spilled onto YouTube in order to bypass Clubhouse limit of 5k.)
The hype around Dogecoin shows no signs of slowing down, as other celebrity figures, including Snoop Dogg and Gene Simmons, join Musk’s attempt of taking the meme coin to the moon. The value of Dogecoin has jumped by over 572% in the last month.
Who keeps your keys? Let us know in the comments section below.
[…]
Learn more
Leave a Reply