BitDigest May 10 · Issue #898

• Ether breaks $4,100
• SEC Chair says ‘market integrity’ is lacking in digital currency exchanges
• Digital yuan not providing users with anything that AliPay and WeChat Pay does not already offer

For those of you who did not stay up Saturday night, and who still do not know how to use your DVR or search YouTube, here are descriptions and videos of Elon Musk’s performance on SNL.

In his monologue, Musk started on a serious note proclaiming to be the first host with Asperger’s and spoke about a “renewable energy future” with humanity becoming “a multi-planetary space-baring civilization.” He then joked about his tweeting habits asking the audience if people actually thought he would be a “chill normal dude?” He ended the introductory segment by bringing his mother Maye on stage who said she was excited for her Mother’s Day Gift, adding that she “hopes it’s not dogecoin.” To which Elon responded, “it is.”

Musk plays financial expert Lloyd Ostertag, “the Dogefather,” in the Weekend Update news segment explaining that cryptocurrencies “are a type of digital money, but instead of being controlled by a central government, they are decentralized using blockchain technology.” Musk then spends the remainder of the segment failing to give an answer to Michael Che’s question of “what is dogecoin” finally admitting “it’s a hustle.”

Here is a brief summary of the other skits:

In GenZ Hospital, Dr. Musk updates a group of friends on their “bestie’s” prognosis.

Musk fails in small talk at a cocktail party in “every conversations with people you haven’t seen since quarantine started.“

On Icelandic talk show, the Ooli Show, Musk as the show’s producer keeps asking the show host to be his girlfriend.

In a court room drama, Musk portrays Wario, the evil brother of Nintendo’s Mario, accused of throwing a banana peel that led to Mario’s death.

Musk plays himself called to the SpaceX control room to oversee the aftermath of a solar storm on Mars that requires one of the colonists to save the space colony.

Wild west cowboy Musk suggests a surprise, underground-tunnel ambush to revenge an attack by the Pearl River Gang in Cowboy Standoff.

🅱️Doge did not respond well to Musk’s appearance. By Sunday morning, at my daily publishing time (6:50AM) DOGE had fallen 29.8% to $0.4971. Later in the morning, DOGE slipped to $0.43 recovering to $0.58 by the end of the day. Besides Musk’s “hustle” comment, a cause of this decline may have been Digital Currency Group’s Barry Silbert who tweeted that DCG had taken a short position on DOGE and would donate any money made on this trade “to financial education and bitcoin-related causes.”

This morning the meme-inspired currency is trading between $0.51 – 0.52.

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