Microsoft suffered a global outage that affected the traditional financial system. The crypto market is fine. While the rest of the world was dealing with problems, cryptocurrencies were creating new memecoins.
The cause of the massive outage at Microsoft and the appearance of the very same “blue screen of death” was an update to Falcon Sensor, a third-party program from CrowdStrike, which deals with cybersecurity.
Who was affected by the global failure?
The problems with Windows-based hardware began today, July 19. According to CrowdStrike CEO George Kurtz, whose program caused the crash, the bug has now been identified and fixed.
“CrowdStrike is actively assisting customers impacted by the recent content update outage for Windows. Mac and Linux are not affected. This is not a security incident or a cyberattack. The issue has been identified, isolated, and resolved. We are directing customers to the support portal for up-to-date information and will continue to provide updates on our website. We also encourage organizations to communicate with CrowdStrike through their official channels,” he said.
However, the problem affected a huge number of organizations and enterprises around the world. Reports came from India, the United States, Europe, the United Kingdom, Australia and New Zealand. The failure affected airlines, telecommunications firms, the healthcare and trade sectors and many other businesses, as well as social infrastructure.
Banking and payment systems..
In addition, banks and payment systems began to experience difficulties. According to DownDectector, failures were observed in the services of Visa, Amazon, large banks and even the London Stock Exchange. Even users of T-Bank (former Tinkoff) reported failures. All this did not affect the crypto market. At least, the networks of the two main cryptocurrencies by capitalization.
“You know what wasn’t affected by the global outage? Bitcoin and cryptocurrencies. We’re still trading, shipping, collecting, and chasing shields. I still think we need fiat, but when it comes to digital, cryptocurrencies are our choice,” one user on X (formerly Twitter) noted.
Global Internet Outage Sparks Meme Coin Frenzy
The global outage of Microsoft’s systems has certainly struck a chord with memecoin enthusiasts. The crypto community has issued dozens of “meme” coins dedicated to CrowdStrike and the “blue screen of death.”
One of the most prominent coins was bluescreenofdeath (BSOD) on Solana (SOL). In a matter of hours after its launch, the asset’s value soared by more than 250%. The token’s capitalization currently stands at $13,000, and the trading volume has already exceeded $455,000.
Another memecoin, Meowcrosoft (MS), soared by more than 220%, reaching a market value of $200,000. However, by the time of writing, the asset’s quotes had fallen sharply. The coin’s capitalization is currently $62,000. At the same time, the daily trading volume exceeded $1.5 million.
Creating “meme” coins for any reason has become the crypto community’s favorite pastime. For example, PolitiFi coins are in great demand right now , especially ahead of the US elections. These are mostly memecoins dedicated to politicians. In particular, Donald Trump and Joe Biden, US presidential candidates.
