Elon Musk’s rocket company SpaceX will launch the “DOGE-1 Mission to the Moon” in Q1 2022. It will mark the first-ever commercial Lunar payload paid for entirely in “meme coin” Dogecoin (DOGE).
The mission, announced by Canadian Geometric Energy Corporation on Sunday, will see a 40-kilogram cube satellite flying to the Moon as payload on one of SpaceX's Falcon 9 rockets.
"This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce," SpaceX Vice President of Commercial Sales Tom Ochinero said in a statement.
By day, Elon Musk sends rockets to space. But on Saturday Night Live, the Tesla and SpaceX CEO sent Dogecoin spiralling back to Earth after his appearance shaved 30% off the coin's price overnight. Dogecoin has remained trapped in the mire all day today, sinking as low as $0.43.
Yesterday evening, Musk appeared on SNL with a couple of much-anticipated Dogecoin gags up his sleeve. Just four minutes into the show, Dogecoin began to plummet from a height of 69 cents. It bottomed out at 49 cents an...
While Geometric Energy did not specify the exact amount of Dogecoin involved in the transaction with SpaceX, the firm’s CEO Samuel Reid said that “having officially transacted with DOGE for a deal of this magnitude,” the two companies “have solidified DOGE as a unit of account for lunar business in the space sector.”
SpaceX CEO Elon Musk commented on the announcement on Twitter, stating that Dogecoin is becoming the first crypto and first meme in space.
SpaceX launching satellite Doge-1 to the moon next year
– Mission paid for in Doge – 1st crypto in space – 1st meme in space
Earlier this year, on April Fool’s Day, Musk tweeted that “SpaceX is going to put a literal dogecoin on the literal moon.” At the time, it was considered to be one of his many jokes about the cryptocurrency.
Dogecoin price plummets following SNL
The announcement comes in the wake of Musk’s appearance on comedy show Saturday Night Live, during which he described Dogecoin as "an unstoppable financial vehicle that's going to take over the world."
In fact, Musk’s appearance on SNL presaged a Dogecoin crash, with the cryptocurrency plummeting from its previous high of $0.74 to as low as 0.47.
Currently, Dogecoin is changing hands in the region of 0.52, up 4.2% in the last 24 hours. Despite its price slipping, however, Dogecoin has soared by more than 800% over the last month alone, becoming the fifth-largest cryptocurrency by market cap.
Mastercard will tap Fiserv’s FIUSD stablecoin for its existing products and services, soon allowing more than 150 million merchants to use the dollar-pegged token, the payments giant said in a press release on Tuesday.
“This work with Fiserv is setting the stage for a new era, where stablecoins are as ubiquitous and trusted as fiat currencies,” Mastercard Americas Co-President Chiro Aikat said in a statement. “We are creating a robust ecosystem.”
Through a partnership, Mastercard and Fiserv wil...
Embattled crypto exchange WazirX received a lifeline Tuesday when a Singapore court granted the company's request to present additional arguments for its restructuring plan, extending a crucial moratorium that keeps its recovery efforts alive.
The Singapore High Court's decision comes after it initially declined to approve WazirX's proposed restructuring plan in early June. The move dealt a significant blow to the India-serving exchange, which has been struggling to resume operations following a...
ECD Automotive Design, Inc. has secured $500 million to acquire and store massive amounts of Bitcoin in a corporate treasury, according to the firm’s statement on Monday—a business strategy that has gained traction among a number of public companies over the past few months.
The Florida-based car restoration company, which bills itself as the largest restorator of Land Rovers and Jaguars, signed a $500 million equity facility with ECDA Bitcoin Treasury LLC, according to its press release.
An...