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If anyone has read the bombastic news on Kronos, the DogeSPAC and all that. So here& #39;s what I& #39;ve found.
So. The news says that they& #39;ll convert First Bitcoin, $BIT, into Dogecoin Cash, $DOG.
https://finance.yahoo.com/news/kronos-advanced-technologies-inc-acquires-122400192.html
#1">https://finance.yahoo.com/news/kron...
So. The news says that they& #39;ll convert First Bitcoin, $BIT, into Dogecoin Cash, $DOG.
https://finance.yahoo.com/news/kronos-advanced-technologies-inc-acquires-122400192.html
#1">https://finance.yahoo.com/news/kron...
First Bitcoin. I know 0 about it, all I know is that the website is down and has 0 in circulation. So I don& #39;t know why or how they created it.
The company BOTS Inc, which brand themselves as market inovators, acquired First Bitcoin Capital LLC and something went wrong.
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The company BOTS Inc, which brand themselves as market inovators, acquired First Bitcoin Capital LLC and something went wrong.
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They repurposed BIT to pay to Shareholders. BOTS Inc is a minority shareholder of Kronos and their largest creditor; this because Kronos was already tied to First Bitcoin Capital LLC originally. This is the reason why Kronos already held a weird unknown thing such as BIT.
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In December 2020, BOTS they rebranded BIT into Basic Income Token and as a DeFi token, marking their venture into Defi space.
In February this year, their client Tipestry partnered with the Dogecoin Cash Public Benefit Coporation to create a new Defi token Dogecoin Cash, an ERC20/BEP20 token. Said corporation is legal and based in Colorado. https://www.dogecoincash.org/ ">https://www.dogecoincash.org/">...
So if Kronos already held First Bitcoin, it makes only sense that they& #39;d trade it freely for Dogecoin Cash, as they are propriety of the same company, and they can make use of both money they already had tied in a Coin/Token that was useless and use the Doge hype.
