MEME CRYPTOCURRENCY

Looking back at the rise of Dogecoin & its current investors

If the idea of cryptos is too outlandish for you, wait till you hear about the meme cryptocurrency which has achieved a cult status

Not that cryptocurrencies are usually in the spotlight, this week was especially an interesting one for digital assets. They formed a part of the debate in the U.S Senate on the infrastructure bill. This followed SEC Commissioner Gary Gensler's comments that he is neutral about the tech, but not about investor protection. While this received harsh criticism from crypto enthusiasts, clearer regulations might actually be good news for the space as it may attract more money and help in building bigger, mainstream companies.

Faith in stable coins, the backbone of fiat to crypto transactions, also took a hit when Coinbase Global Inc. dropped a promise that its USD Coin was fully backed by cash. And on top of this, the Cryptoverse was hit with possibly the biggest DeFi hack ever — although it is now being reported that the white hat hackers are returning all the money to the Poly Network. None of this bad news, however, seemed to have dampened the investor appetite for Bitcoin and the associated cryptos. At the time of writing, BTC was trading…