Altcoins at a Glance – Important Updates for the Week

Welcome back to Altcoins at a Glance.  Bitcoin is the king of crypto, but we have thousands of other projects trying to jostle for our attention.   No single person can keep up with all these projects, so we decided to save you time by creating a one-stop shop.  We browsed through all the altcoin developments to bring you the most important and interesting ones. 

PEPE Army Stands up to Coinbase

• Coinbase received backlash from the PEPE meme coin community when the exchange said that PEPE is a hate symbol in its May 11, 2023 newsletter.
• According to the newsletter, “The token is based on the Pepe the Frog meme, which first surfaced on the internet nearly 20 years ago as a comic-strip character. Over time it has been co-opted as a hate symbol by alt-right groups according to the Anti-Defamation League,” 
• Supporters of PEPE threaten to pull out funds from Coinbase due to the statement.
• The exchange’s Chief Legal Offer Paul Grewal has eventually issued an apology.  He acknowledged that they screwed up and did not provide an accurate history of the meme coin.

See more

We screwed up and we are sorry.

Yesterday we shared an overview of the $pepe meme coin to provide a fact-based picture of a trending topic. This did not provide the whole picture of the history of the meme and we apologize to the community.

— paulgrewal.eth (@iampaulgrewal) May 11, 2023

LimeWire Launched New Token, Accepts Altcoins for Payments

• LimeWire was a popular peer-to-peer sharing program before it was closed by a court order.
• It is now reinventing itself by launching a Web3 and blockchain platform which caters to creators and patrons in the music, art, and entertainment community.
• The new platform is powered by its new utility token LimeWire Token (LMWR).  It gives privileges that correspond to the number of tokens held by a user.
• LMWR can be purchased using Bitcoin and other altcoins like ETH, BNB, and BNB in the public token sale.
• LimeWire has already secured $10 million during a private token sale. It was participated by crypto giants like Kraken Ventures, SwissBorg Ventures, and Crypto.com Capital.

Purchases Using Altcoins Made Easier by Stripe

• Stripe, an Irish-American financial services and software company, has launched a fiat-to-crypto onramp that makes it easier for US-based customers to purchase crypto.
• The onramp supports multiple chains and crypto assets like Ethereum (ETH), Solana (SOL), and Polygon (MATIC).
• Customers can use card payments or bank transfers to top up their crypto wallets.
• A practical example would be when a customer wants to purchase an NFT using Stripe’s fiat-to-crypto onramp.   The customer does not need to load up on crypto from a separate exchange, but can instead easily complete the transactions by buying crypto from Stripe’s onramp service.

Incoming Twitter CEO Possibly into Top Altcoin Shiba Inu

• Linda Yaccarino, Elon Musk’s apparent Twitter heir in waiting, has piqued the interest of the Shiba Inu community.   The excitement was caused by some members of the crypto community who noticed that Yaccarino follows the Shiba Inu Twitter account.
• Yaccarino’s level of interest in crypto is still unknown, but some are hopeful that the new CEO would have a positive impact on Shiba Inu.
• Elon Musk would sometimes tweet about some altcoins and these tweets usually have a positive impact on the token’s price.

Thank you for joining us this week.   Stay tuned for another edition of Altcoins at a Glance.

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Featured Image from Unsplash