<p>Binance.US, the United States arm of the cryptocurrency exchange Binance will delist two digital tokens from its trading platform on April 18.</p>

<p>Binance said that it has decided to delist digital tokens Tron (TRX) and Spell (SPELL) as part of a periodic review.</p>

<p>As per media reports, Tron fell over five percent against the US dollar after the announcement, while the Spell token fell over four percent on Wednesday.</p>

<p>Binance said that changes in the trading volume and liquidity, volatility in token’s risk profile, or evidence of fraud are some of the factors that are considered before delisting a token from its trading platform.</p>

<p>The decision to delist Tron comes just days after the US Securities and Exchange Commission charged Tron founder Justin Sun with fraud. According to the US regulator, Sun distributed billions of crypto assets known as Tronix (TRX) and BitTorrent (BTT) to artificially inflate trading volume.</p>

<p>However, Sun has downplayed the delisting of his token, arguing that Tron's trading volume on the trading platform in the United States is only a small fraction of its total trade volume. "Tron's current trading volume is $400 million," Reuters quoted him as saying.&nbsp;</p>

<p>It is however unclear why Spell has been delisted from Binance.US.&nbsp;</p>


Binance.US, the United States arm of the cryptocurrency exchange Binance will delist two digital tokens from its trading platform on April 18. Binance said that it has decided to delist digital tokens Tron (TRX) and Spell (SPELL) as part of a periodic review.

Binance.US, the United States arm of the cryptocurrency exchange Binance will delist two digital tokens from its trading platform on April 18. Binance said that it has decided to delist digital tokens Tron (TRX) and Spell (SPELL) as part of a periodic review. As per media reports, Tron fell over five percent against the US dollar after the announcement, while the Spell token fell over four percent on Wednesday. Binance said that changes in the trading volume and liquidity, volatility in token’s risk profile, or evidence of fraud are some of the factors that are considered before delisting a token from its trading platform. The decision to delist Tron comes just days after the US Securities and Exchange Commission charged Tron founder Justin Sun with fraud. According to the US regulator, Sun distributed billions of crypto assets known as Tronix (TRX) and BitTorrent (BTT) to artificially inflate trading volume. However, Sun has downplayed the delisting of his token, arguing that Tron's trading volume on the trading platform in the United States is only a small fraction of its total trade volume. "Tron's current trading volume is $400 million," Reuters quoted him as saying. It is however unclear why Spell has been delisted from Binance.US.

US arm of Binance to delist Tron, Spell tokens

<p>Corporate India lost one of its titans this morning.&nbsp;</p>

<p>Mahindra &amp; Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99.&nbsp;</p>

<p>Born on October 9, 1923, Mahindra graduated from the prestigious Wharton School of the University of Pennsylvania.</p>

<p>He joined the company in 1947, the year India became independent, and became its chairman in 1963. He remained in the position till 2012, when he passed on the baton to his nephew Anand Mahindra.&nbsp;</p>

<p>With a net worth of about $1.2 billion, Mahindra was India's oldest billionaire. As the chairman for nearly five decades, he transformed Mahindra &amp; Mahindra into a multinational company, with interests in automobile manufacturer to other businesses like IT, real estate, financial services and hospitality.&nbsp;</p>

<p>As a leading member of Corporate India, he was a part of several government committees, including the Sachar Commission on Company Law and Monopolistic and Restrictive Trade Practices and the Central Advisory Council of Industries.</p>

<p>Under Dr Manmohan Singh, Mahindra was a member of the Prime Minister’s Council on Trade and Industry between 2004 and 2010.&nbsp;</p>

<p><br />
<strong>Tributes pour in for the late industrialist&nbsp;</strong></p>

<p>Industry leaders condoled the death of Mahindra.&nbsp;</p>

<p>Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement: "The Indian automobile industry has lost one of its pioneers. His leadership in the early years of the journey of the Indian auto industry had led to india being recognised as an important player globally and also helped in India becoming a manufacturing hub for the automobile sector."&nbsp;</p>

<p>Pawan Goenka, the chairman of Indian National Space Promotion and Authorisation Centre, tweeted: "The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing."</p>

<p>In his condolence message, industrialist Gautam Singhania fondly remembered Mahindra. He tweeted: "Keshubhji lived a glorious life guiding the growth of Mahindra group for nearly five decades."</p>


Corporate India lost one of its titans this morning. Mahindra & Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99. Born on October 9, 1923, Mahindra graduated from the prestigious Wharton School of the University of Pennsylvania.

Corporate India lost one of its titans this morning. Mahindra & Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99. Born on October 9, 1923, Mahindra graduated from the prestigious Wharton School of the University of Pennsylvania. He joined the company in 1947, the year India became independent, and became its chairman in 1963. He remained in the position till 2012, when he passed on the baton to his nephew Anand Mahindra. With a net worth of about $1.2 billion, Mahindra was India's oldest billionaire. As the chairman for nearly five decades, he transformed Mahindra & Mahindra into a multinational company, with interests in automobile manufacturer to other businesses like IT, real estate, financial services and hospitality. As a leading member of Corporate India, he was a part of several government committees, including the Sachar Commission on Company Law and Monopolistic and Restrictive Trade Practices and the Central Advisory Council of Industries. Under Dr Manmohan Singh, Mahindra was a member of the Prime Minister’s Council on Trade and Industry between 2004 and 2010. Tributes pour in for the late industrialist Industry leaders condoled the death of Mahindra. Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement: "The Indian automobile industry has lost one of its pioneers. His leadership in the early years of the journey of the Indian auto industry had led to india being recognised as an important player globally and also helped in India becoming a manufacturing hub for the automobile sector." Pawan Goenka, the chairman of Indian National Space Promotion and Authorisation Centre, tweeted: "The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing." In his condolence message, industrialist Gautam Singhania fondly remembered Mahindra. He tweeted: "Keshubhji lived a glorious life guiding the growth of Mahindra group for nearly five decades."

Mahindra & Mahindra Chairman Emeritus Keshub Mahindra dies at 99

<p>A year after crisis-hit Sri Lankans stood in long queues outside fuel stations, foreign oil companies will be able to sell fuel in the island nation at a lower rate than what the state-owned oil firm sells at.</p>

<p>The Sri Lankan cabinet on March 27 decided to grant licenses to foreign oil companies to sell oil in the domestic retail market. Three companies -- China's Sinopec, United Petroleum of Australia, and RM Parks of the United States in a collaboration with Shell -- will soon start operating in the country.</p>

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<p dir="ltr" lang="en">1) Cabinet approval grated to award licenses to Sinopec, United Petroleum, Australia &amp; RM Parks of USA in a collaboration with Shell Plc to enter the Fuel Retail market in Sri Lanka.</p>
— Kanchana Wijesekera (@kanchana_wij) <a href="https://twitter.com/kanchana_wij/status/1640317066451492864?ref_src=twsrc%5Etfw">March 27, 2023</a></blockquote>
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<p>These companies will be allowed to import, store and distribute petroleum products for 20 years. They will be allowed to operate 150 fuel stations that are currently run by the state-owned Ceylon Petroleum Corporation. Moreover, they will establish 50 fuel stations at new locations.</p>

<p>The entry of Chinese, American and Australian oil firms in Sri Lanka is significant as the island nation only has two major oil companies. Ceylon Petroleum Corporation, which is owned by the government, controls 80 percent of the fuel supply, while the Sri Lankan subsidiary of the Indian Oil Corporation -- Lanka IOC -- controls the rest.</p>

<p>The latest decision comes at least nine months after the government decided to open Sri Lanka's oil retail market to "companies from Oil producing nations" to resolve acute shortages of fuel during its worst economic crisis since gaining Independence in 1948.</p>

<p>Sri Lankan energy minister Kanchana Wijesekera had tweeted: "They will be selected on the ability to Import Fuel and operate without Forex requirements from the Central Bank of Sri Lanka and banks for the first few months of operations."</p>

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<p dir="ltr" lang="en">1) Cabinet Approval was granted to open up the Fuel Import and Retail sales market to Companies from Oil producing Nations. They will be selected on the ability to Import Fuel and operate without Forex requirements from the CBSL and Banks for the first few months of operations.</p>
— Kanchana Wijesekera (@kanchana_wij) <a href="https://twitter.com/kanchana_wij/status/1541646012032454656?ref_src=twsrc%5Etfw">June 28, 2022</a></blockquote>
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<p>However, the Sri Lankan government won't find it easy to implement its reforms in the fuel industry. Workers Unions have been opposing the plan to allow grant licenses to the three foreign firms and partially privatise the Ceylon Petroleum Corporation.</p>

<p><b>The 2022 Sri Lanka economic crisis</b></p>

<p>Last year, amid the coronavirus pandemic and the Ukraine war, Sri Lanka faced an economic crisis.</p>

<p>The island nation defaulted on its debt for the first time since Independence. With foreign exchange reserves at a critical level, the nation of 22 million was unable to pay for imports of essential items like fuel, food and medicines. According to the World Bank, Sri Lanka's economy contracted by 7.8 percent in 2022.</p>

<p>A year later, Sri Lanka is in the midst of an International Monetary Fund-backed recovery, under which the government recently slashed fuel prices by 8 to 26 percent.&nbsp;</p>

<p>In March, the IMF approved a $3 billion package for the crisis-hit island nation.</p>

<p><b>World Bank's position on Sri Lanka's recovery</b></p>

<p>While the IMF has released its package, its sister organisation World Bank's&nbsp;outlook on the Sri Lankan economy looks bleak.</p>

<p>"The fluid political situation and heightened fiscal, external, and financial sector imbalances pose significant uncertainty for the outlook," the World Bank's latest Sri Lanka development update read.</p>

<p>The international institution added that a slow debt restructuring process, a sharper global slowdown, and a prolonged recovery from the scarring effects of the current crisis are key risks to the Sri Lankan economy.</p>

<p>However, Faris Hadad-Zervos, World Bank's Country Director for Maldives, Nepal and Sri Lanka, sees a brighter side too: "The crisis provides a unique opportunity to implement deep and permanent structural reforms that may be difficult in normal circumstances. Sri Lanka can use this opportunity to build a strong and resilient economy."</p>


A year after crisis-hit Sri Lankans stood in long queues outside fuel stations, foreign oil companies will be able to sell fuel in the island nation at a lower rate than what the state-owned oil firm sells at.

A year after crisis-hit Sri Lankans stood in long queues outside fuel stations, foreign oil companies will be able to sell fuel in the island nation at a lower rate than what the state-owned oil firm sells at. The Sri Lankan cabinet on March 27 decided to grant licenses to foreign oil companies to sell oil in the domestic retail market. Three companies -- China's Sinopec, United Petroleum of Australia, and RM Parks of the United States in a collaboration with Shell -- will soon start operating in the country. 1) Cabinet approval grated to award licenses to Sinopec, United Petroleum, Australia & RM Parks of USA in a collaboration with Shell Plc to enter the Fuel Retail market in Sri Lanka. — Kanchana Wijesekera (@kanchana_wij) March 27, 2023 × These companies will be allowed to import, store and distribute petroleum products for 20 years. They will be allowed to operate 150 fuel stations that are currently run by the state-owned Ceylon Petroleum Corporation. Moreover, they will establish 50 fuel stations at new locations. The entry of Chinese, American and Australian oil firms in Sri Lanka is significant as the island nation only has two major oil companies. Ceylon Petroleum Corporation, which is owned by the government, controls 80 percent of the fuel supply, while the Sri Lankan subsidiary of the Indian Oil Corporation -- Lanka IOC -- controls the rest. The latest decision comes at least nine months after the government decided to open Sri Lanka's oil retail market to "companies from Oil producing nations" to resolve acute shortages of fuel during its worst economic crisis since gaining Independence in 1948. Sri Lankan energy minister Kanchana Wijesekera had tweeted: "They will be selected on the ability to Import Fuel and operate without Forex requirements from the Central Bank of Sri Lanka and banks for the first few months of operations." 1) Cabinet Approval was granted to open up the Fuel Import and Retail sales market to Companies from Oil producing Nations. They will be selected on the ability to Import Fuel and operate without Forex requirements from the CBSL and Banks for the first few months of operations. — Kanchana Wijesekera (@kanchana_wij) June 28, 2022 × However, the Sri Lankan government won't find it easy to implement its reforms in the fuel industry. Workers Unions have been opposing the plan to allow grant licenses to the three foreign firms and partially privatise the Ceylon Petroleum Corporation. The 2022 Sri Lanka economic crisis Last year, amid the coronavirus pandemic and the Ukraine war, Sri Lanka faced an economic crisis. The island nation defaulted on its debt for the first time since Independence. With foreign exchange reserves at a critical level, the nation of 22 million was unable to pay for imports of essential items like fuel, food and medicines. According to the World Bank, Sri Lanka's economy contracted by 7.8 percent in 2022. A year later, Sri Lanka is in the midst of an International Monetary Fund-backed recovery, under which the government recently slashed fuel prices by 8 to 26 percent. In March, the IMF approved a $3 billion package for the crisis-hit island nation. World Bank's position on Sri Lanka's recovery While the IMF has released its package, its sister organisation World Bank's outlook on the Sri Lankan economy looks bleak. "The fluid political situation and heightened fiscal, external, and financial sector imbalances pose significant uncertainty for the outlook," the World Bank's latest Sri Lanka development update read. The international institution added that a slow debt restructuring process, a sharper global slowdown, and a prolonged recovery from the scarring effects of the current crisis are key risks to the Sri Lankan economy. However, Faris Hadad-Zervos, World Bank's Country Director for Maldives, Nepal and Sri Lanka, sees a brighter side too: "The crisis provides a unique opportunity to implement deep and permanent structural reforms that may be difficult in normal circumstances. Sri Lanka can use this opportunity to build a strong and resilient economy."

A year after crisis, Sri Lanka allows 3 foreign oil companies to sell fuel

<p>Russia's currency rouble hit its lowest level since April last year on Thursday after reports suggested that British oil giant Shell may repatriate over $1 billion from the sanctions-hit country.</p>

<p>The rouble closed at 81.6 per dollar on Thursday, the lowest since April 2022.</p>

<p>Reports suggest that Russian President Vladimir Putin has allowed Shell to sell its stake, worth $1.21 billion, in a project in the Russian Far East. Shell moved out of Russia after Moscow invaded Ukraine last year.</p>

<p><strong>ALSO READ |</strong>&nbsp;<a href="https://www.wionews.com/india-news/india-makes-record-local-defence-purchases-credit-russias-rouble-roadblock-report-572116">India makes record local defence purchases due to Russia's rouble roadblock: Report</a></p>

<p>Since the war began in Ukraine in February 2022, Putin has asked foreign companies to seek permission before selling their Russian assets.</p>

<p>The British oil giant is not the only company to withdraw from Russia, which has been under multiple sanctions after the invasion. These sanctions have effectively cut Russia's global financial and payment systems access.</p>

<p>According to a Bloomberg report, assets worth 15 to 20 billion dollars have flown out of Russia, putting immense pressure on its economy.</p>

<p>The flight of capital from Russia has hurt the stability of the rouble.</p>

<p>"With liquidity in the currency market low, it leads to increased volatility for the rouble," Dmitry Polevoy of Moscow's Locko-Invest told Bloomberg.</p>

<p>Indeed, the rouble has had a volatile journey since the Ukraine war. The Russian currency rose from 78 to over 130 per dollar when Moscow invaded its neighbour.</p>

<p>However, by mid-2022, it recovered to 57 roubles per dollar. This was the best exchange rate in about four years.</p>

<p>The currency volatility, however,&nbsp;does not bode&nbsp;well for the Russian economy. After denying it for several months, Putin admitted that sanctions could impact Russia in the medium term.</p>

<p>"The illegitimate restrictions imposed may indeed have a negative impact on it in the medium term," the Russian state media quoted him as saying.<br />
&nbsp;</p>

<p><strong>WATCH | Capital outflows weigh on the Russia rouble</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/capital-outflows-weigh-on-the-russia-rouble-580073/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>Reports in the Russian media suggest that sanctions have led to the budget deficit in the first two months of 2023 reaching 88 per cent.&nbsp;</p>

<p>A higher budget deficit means that Moscow needs help to fund its coffers.</p>

<p>According to the International Energy Agency, Russia earned $11.6 billion from its oil exports in February 2023, a 42 per cent drop from $20 billion in February 2022.</p>

<p>The drop in revenue comes after the European Union imposed a ban on Russian oil and a price cap was imposed by G7 countries and Australia.<br />
&nbsp;</p>

<p><em>You can&nbsp;<strong>now write for wionews.com</strong>&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></em></p>

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Russia's currency rouble hit its lowest level since April last year on Thursday after reports suggested that British oil giant Shell may repatriate over $1 billion from the sanctions-hit country.

Russia's currency rouble hit its lowest level since April last year on Thursday after reports suggested that British oil giant Shell may repatriate over $1 billion from the sanctions-hit country. The rouble closed at 81.6 per dollar on Thursday, the lowest since April 2022. Reports suggest that Russian President Vladimir Putin has allowed Shell to sell its stake, worth $1.21 billion, in a project in the Russian Far East. Shell moved out of Russia after Moscow invaded Ukraine last year. ALSO READ | India makes record local defence purchases due to Russia's rouble roadblock: Report Since the war began in Ukraine in February 2022, Putin has asked foreign companies to seek permission before selling their Russian assets. The British oil giant is not the only company to withdraw from Russia, which has been under multiple sanctions after the invasion. These sanctions have effectively cut Russia's global financial and payment systems access. According to a Bloomberg report, assets worth 15 to 20 billion dollars have flown out of Russia, putting immense pressure on its economy. The flight of capital from Russia has hurt the stability of the rouble. "With liquidity in the currency market low, it leads to increased volatility for the rouble," Dmitry Polevoy of Moscow's Locko-Invest told Bloomberg. Indeed, the rouble has had a volatile journey since the Ukraine war. The Russian currency rose from 78 to over 130 per dollar when Moscow invaded its neighbour. However, by mid-2022, it recovered to 57 roubles per dollar. This was the best exchange rate in about four years. The currency volatility, however, does not bode well for the Russian economy. After denying it for several months, Putin admitted that sanctions could impact Russia in the medium term. "The illegitimate restrictions imposed may indeed have a negative impact on it in the medium term," the Russian state media quoted him as saying. WATCH | Capital outflows weigh on the Russia rouble Reports in the Russian media suggest that sanctions have led to the budget deficit in the first two months of 2023 reaching 88 per cent. A higher budget deficit means that Moscow needs help to fund its coffers. According to the International Energy Agency, Russia earned $11.6 billion from its oil exports in February 2023, a 42 per cent drop from $20 billion in February 2022. The drop in revenue comes after the European Union imposed a ban on Russian oil and a price cap was imposed by G7 countries and Australia. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Russian rouble hits a one-year low as Ukraine war-induced sanctions begin to pinch

<p>Popular cryptocurrency Dogecoin fell by nearly 9% on Thursday after Twitter reverted to its iconic blue bird logo.</p>

<p>The fall in price is a mere reflection of how Elon Musk has used the crypto token as a joke.</p>

<p>Earlier, Twitter had replaced its blue bird logo with the Shiba Inu face, which is the logo of the Dogecoin crypto token.&nbsp;</p>

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<p dir="ltr" lang="zxx"><a href="https://t.co/wmN5WxUhfQ">pic.twitter.com/wmN5WxUhfQ</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1642962756906418176?ref_src=twsrc%5Etfw">April 3, 2023</a></blockquote>
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<p>The unusual logo change led to Dogecoin rising by about 30 per cent. &nbsp;</p>

<p>Twitter users could see the unusual logo change on the website for a few days.</p>

<p>But the old logo has now been restored.</p>

<p>The logo alteration to Dogecoin came just days after Musk sought the dismissal of a $258 billion lawsuit, which accused him of manipulating and driving the crypto token's price by over 36,000 per cent. &nbsp;</p>

<p><strong>ALSO READ |</strong> <a href="https://www.wionews.com/world/heres-why-elon-musk-replaced-twitters-blue-bird-with-doge-meme-578791">Here's why Elon Musk replaced Twitter's blue bird with ‘Doge’ meme</a></p>

<h2><strong>What's Dogecoin?</strong></h2>

<p>Dogecoin began as a joke in 2013 but is now the eighth-most valuable cryptocurrency in the world, as per some estimates.&nbsp;</p>

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<p dir="ltr" lang="en">As promised <a href="https://t.co/Jc1TnAqxAV">pic.twitter.com/Jc1TnAqxAV</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1642976364080041984?ref_src=twsrc%5Etfw">April 3, 2023</a></blockquote>
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<p>Dogecoin is a meme coin, a category of cryptocurrency which depicts popular animated memes. &nbsp;</p>

<p>Musk, who bought Twitter in 2022 for $44 billion, has been touting Dogecoin for many years.</p>

<p>His electric vehicle company, Tesla, announced in 2021 that it would take Dogecoins for some merchandise.</p>

<h2>Why the flip-flop with the logo?</h2>

<p>The question is, why exactly did Musk decide to change the Twitter logo to a dogecoin?</p>

<p>Musk may have been trying to shift attention away from the lawsuit against him by investors in Dogecoin, even though there is no clarification on this matter.</p>

<p>The argument he meant to illustrate by altering the logo to Doge was that his tweets about the Doge are not an attempt to mislead anyone and should not be taken seriously at any one point in time.</p>

<p><strong>WATCH | Elon Musk's belated April Fool's Day gag? Twitter logo changed to Dogecoin</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/elon-musks-belated-april-fools-day-gag-twitter-logo-changed-to-dogecoin-578801/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>This is precisely what his lawyers said in court while terming the case as a "fanciful work of fiction" over the Twitter owner's "innocuous and often silly tweets."</p>

<p>The purpose of modifying the logo may likely have been to simply demonstrate to the court that the defendant's acts about Dogecoin are, in fact, comical and in no way serious.</p>

<p>You can&nbsp;<strong>now write for wionews.com</strong>&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>

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Popular cryptocurrency Dogecoin fell by nearly 9% on Thursday after Twitter reverted to its iconic blue bird logo. The fall in price is a mere reflection of how Elon Musk has used the crypto token as a joke.

Popular cryptocurrency Dogecoin fell by nearly 9% on Thursday after Twitter reverted to its iconic blue bird logo. The fall in price is a mere reflection of how Elon Musk has used the crypto token as a joke. Earlier, Twitter had replaced its blue bird logo with the Shiba Inu face, which is the logo of the Dogecoin crypto token. pic.twitter.com/wmN5WxUhfQ — Elon Musk (@elonmusk) April 3, 2023 × The unusual logo change led to Dogecoin rising by about 30 per cent. Twitter users could see the unusual logo change on the website for a few days. But the old logo has now been restored. The logo alteration to Dogecoin came just days after Musk sought the dismissal of a $258 billion lawsuit, which accused him of manipulating and driving the crypto token's price by over 36,000 per cent. ALSO READ | Here's why Elon Musk replaced Twitter's blue bird with ‘Doge’ meme What's Dogecoin? Dogecoin began as a joke in 2013 but is now the eighth-most valuable cryptocurrency in the world, as per some estimates. As promised pic.twitter.com/Jc1TnAqxAV — Elon Musk (@elonmusk) April 3, 2023 × Dogecoin is a meme coin, a category of cryptocurrency which depicts popular animated memes. Musk, who bought Twitter in 2022 for $44 billion, has been touting Dogecoin for many years. His electric vehicle company, Tesla, announced in 2021 that it would take Dogecoins for some merchandise. Why the flip-flop with the logo? The question is, why exactly did Musk decide to change the Twitter logo to a dogecoin? Musk may have been trying to shift attention away from the lawsuit against him by investors in Dogecoin, even though there is no clarification on this matter. The argument he meant to illustrate by altering the logo to Doge was that his tweets about the Doge are not an attempt to mislead anyone and should not be taken seriously at any one point in time. WATCH | Elon Musk's belated April Fool's Day gag? Twitter logo changed to Dogecoin This is precisely what his lawyers said in court while terming the case as a "fanciful work of fiction" over the Twitter owner's "innocuous and often silly tweets." The purpose of modifying the logo may likely have been to simply demonstrate to the court that the defendant's acts about Dogecoin are, in fact, comical and in no way serious. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Dogecoin drops after Twitter switches logo back to iconic blue bird

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