In an astonishing turn of events, the director of Netflix's highly-anticipated sci-fi series "Conquest," Carl Erik Rinsch, has allegedly diverted a substantial portion of the show's budget into Dogecoin (DOGE) investments, resulting in a jaw-dropping $27 million profit. Now, Rinsch is reportedly demanding an additional $14 million from Netflix in a confidential arbitration proceeding, creating a whirlwind of controversy in the entertainment industry.
In related news, cryptocurrency is reaching new heights - quite literally. Pittsburgh-based firm Astrobotic is set to make history by sending physical tokens of both Dogecoin (DOGE) and Bitcoin (BTC) to the moon as part of its groundbreaking Peregrine Mission One (PM1), scheduled for Dec. 23. In a remarkable twist, Dogecoin's lunar venture comes after a previously postponed SpaceX mission funded solely by DOGE tokens.
Netflix's Sci-Fi Series Director Allegedly Bet $4 Million on Dogecoin, Seeking Additional $14 Million from Streaming Giant
In a shocking turn of events, the director of Netflix's highly-anticipated sci-fi series "Conquest," Carl Erik Rinsch, has found himself at the center of a financial controversy that has sent shockwaves through the entertainment industry. According to a report in The New York Times published on Nov. 22, Rinsch allegedly diverted $4 million from the show's budget to invest in Dogecoin, resulting in a staggering $27 million windfall. Now, he's demanding an additional $14 million from Netflix in a confidential arbitration proceeding.
The saga began when Netflix greenlit "Conquest," committing a hefty $55 million to produce the series, which was eagerly anticipated by fans. However, despite the significant investment, not a single episode of the show has been delivered to the streaming giant.
The Times report provides an inside look at the tumultuous journey of "Conquest." In March 2020, approximately 16 months after Netflix initially purchased Rinsch's concept and allocated an initial budget of $44 million, Rinsch approached the streaming service for more funding. Netflix agreed to provide an additional $11 million, on the condition that Rinsch would complete the project.
What happened next took everyone by surprise. Rinsch reportedly used $10.5 million of the fresh funds to dabble in the stock market, engaging in high-risk options trading on pharmaceutical companies and the S&P 500. Shockingly, he allegedly lost nearly $6 million within a matter of weeks.
With only a little over $4 million remaining from the additional funds, Rinsch made an audacious move by transferring the remaining funds to the cryptocurrency exchange Kraken and going all-in on Dogecoin (DOGE). His gamble paid off handsomely when he liquidated his DOGE holdings in May 2021, walking away with an eye-popping $27 million, as evidenced by an account statement obtained by The Times.
In a chat with a Kraken representative after his successful cryptocurrency investment, Rinsch jubilantly exclaimed, "Thank you and god bless crypto."
However, the aftermath of his cryptocurrency success raised eyebrows. Rinsch allegedly spent a significant portion of his newfound wealth lavishly, including approximately $9 million on high-end furniture, designer clothing, a luxury watch worth over $380,000, and a fleet of extravagant automobiles, including five Rolls-Royces and a Ferrari. These expenditures came to light during divorce proceedings when a forensic accountant hired by Rinsch's ex-wife scrutinized his spending.
In response to these developments, Rinsch initiated a confidential arbitration proceeding against Netflix, alleging that the streaming service had breached its contract and owes him an additional $14 million in damages. Netflix vehemently denied any liability and referred to Rinsch's demands as a "shakedown."
During a deposition related to the case, Rinsch initially claimed that the extravagant purchases were props for "Conquest." However, he later pivoted, arguing that the money was rightfully his, and he was owed the additional $14 million.
The ongoing legal battle has garnered significant attention in the entertainment industry, with both sides vigorously defending their positions. A ruling on the case is expected imminently, as it was heard before an arbitrator in November, leaving many eager to see how this high-stakes drama will ultimately unfold and what it could mean for the future of "Conquest" and its embattled director, Carl Erik Rinsch.
Dogecoin to Join Bitcoin in Lunar Mission: Astrobotic's Peregrine Mission One
Pittsburgh-based firm Astrobotic is making headlines in the cryptocurrency world as it plans to send a physical Dogecoin (DOGE) token to the moon as part of its ambitious lunar payload mission, scheduled for Dec. 23. This exciting development was announced by Dogecoin developers in an X post, creating a buzz in the cryptocurrency community.
The official statement from Dogecoin developers reads, "Astrobotic plans to send a physical Dogecoin to the moon in the DHL Moonbox via ULA's Vulcan Centaur Rocket on 12/23/2023, funded by our community in 2015." This groundbreaking mission signifies a remarkable milestone for Dogecoin, a cryptocurrency that started as a meme but has since gained widespread popularity.
Astrobotic's mission, known as Peregrine Mission One (PM1), is designed to carry a total of 21 payloads, or cargo, which includes contributions from governments, companies, universities, and NASA's Commercial Lunar Payload Services (CLPS) initiative. The inclusion of Dogecoin in this lunar mission underscores the growing interest in cryptocurrencies and blockchain technology beyond Earth's boundaries.
But that's not all - Astrobotic's lunar mission is set to be even more historic as it will also transport a physical Bitcoin token. This initiative was originally planned by the cryptocurrency exchange BitMEX, with the announcement made in May. Additionally, the mission will carry a copy of the Genesis Block, which represents the first block of Bitcoin (BTC) ever mined, and was commissioned by Bitcoin Magazine.
This unique convergence of cryptocurrencies on the lunar surface highlights the increasing integration of digital assets into space exploration and the broader realm of technological advancements.
Interestingly, this isn't Dogecoin's first venture to the moon. In 2022, there were plans for a SpaceX mission funded entirely by DOGE tokens. The mission was commissioned by the Canadian company Geometric Energy Corp., and it was touted as the first-ever commercial lunar payload financed entirely with DOGE. However, the mission encountered delays and is now scheduled for a launch in January 2024.
The decision to include Dogecoin in Astrobotic's lunar mission demonstrates the cryptocurrency's resilient and enduring appeal within the cryptocurrency community. What started as a playful meme coin has evolved into a force to be reckoned with, making its mark not only on Earth but now reaching for the stars.
As the scheduled date for the Peregrine Mission One draws near, cryptocurrency enthusiasts and space aficionados alike will be eagerly watching to witness this historic moment when Dogecoin, the beloved Shiba Inu-themed cryptocurrency, embarks on its lunar journey, taking another giant leap for the world of digital assets.
Price Overview
Daily chart for DOGE/USDT (Source: TradingView)
DOGE was attempting to overcome the resistance level at $0.07755 at press time. This was after the meme coin rose 0.40% over the past 24 hours, which followed a 5.5% surge during yesterday’s trading session. Should the altcoin overcome this threshold, it may have the foundation needed to rise to the subsequent barrier at $0.08270 in the following few days.
On the other hand, if DOGE’s price is rejected by the $0.07755 resistance level in the next 48 hours, then it may undergo a bit of a correction. In this more bearish scenario, the cryptocurrency’s value could be at risk of retracing to $0.07240.
