Vivek Ramaswamy’s X Acc. Hacked, Promotes USUAL Stablecoin

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As a seasoned analyst with years of experience under my belt, I find myself constantly on the lookout for significant events that could potentially impact markets and industries. The recent hacking of Vivek Ramaswamy’s Twitter account and the subsequent surge in the price of USUAL stablecoin is one such event that has caught my attention.

Vivek Ramaswamy, recently appointed co-leader of the newly created U.S. Department of Government Efficiency (DOGE), has had his Twitter account hacked, causing a wave of confusion and a surge in the price of a lesser-known stablecoin, USUAL.

This morning, Ramaswamy’s Twitter post hinted at a potential collaboration between the Doge department and USUAL, a secure digital currency platform that is supported by traditional money.

The tweet claimed that the U.S. government’s new efficiency initiative would collaborate with USUAL, potentially signaling a major shift in government finance and crypto regulations.

Initially, the post was swiftly removed, and subsequently, it became known that Ramaswamy’s account had fallen victim to hacking. James Fishback, who serves as CEO and founder of Azoria, confirmed this breach by posting on Twitter, “I just talked with Vivek. His account has been taken over by hackers. He is currently unable to access it. This is a fraudulent activity.

Despite its brief duration, the announcement left a substantial mark. After the tweet was posted, the value of USUAL, a less known stablecoin, saw a dramatic increase, leading to speculations about possible manipulation or a reaction to misleading information in the market.

The tweet spread quickly among users before it was taken down, and many were skeptical about its validity. An account named Magacoin even shared a screenshot of the deleted tweet that claimed Vivek Ramaswamy’s Twitter account, who is a co-leader in the US government’s DOGE efficiency department, had been hacked.

Currently, neither Ramaswamy nor the U.S. administration has issued any comments about the incident. The case is still being probed by cybersecurity specialists who aim to uncover how the account was compromised and establish additional safeguards for future protection.

Vivek Ramaswamy, recognized for his work in technology and biotechnology, is joining forces with Elon Musk, CEO of Tesla, to head up the Department of Government Efficiency (DOGE). This innovative endeavor aims to simplify government procedures and foster creativity within the public sector.

Currently, the typical stablecoin’s value stands around $1.60 following a significant increase of approximately 35%. Its market capitalization has swelled by 37%, reaching an impressive figure of $722.06 million. Additionally, in the past 24 hours, its trading volume has been substantial at $1.59 billion, though it has seen a decrease of 11%.

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2024-12-20 10:14