Elon Musk, while acknowledging the humor and canine appeal of Dogecoin (DOGE), advises against heavily relying on it. The influential Tesla CEO’s tweets and actions have significantly impacted the value of Dogecoin and similar meme coins.

Hotbit, a cryptocurrency exchange, has made an announcement stating that it will halt its operations starting from May 22. The exchange has urged its users to withdraw their funds.

Bitcoin payments firm Strike has announced a massive expansion along with the relocation of its headquarters to El Salvador. Strike revealed its expansion plans to cover 65 global markets.

Revolut’s banking license application is reportedly set to be rejected by the Bank of England due to concerns surrounding its information technology (IT) systems. The bank’s Prudential Regulatory Authority (PRA) had previously announced its intention to issue a warning to Revolut in March following a review of the initial application.