fbpx
Connect with us

Ethereum

Crypto Payments On Twitter Could Soon Be A Reality: Influential Trading Group 

Published

on

Crypto Payments On Twitter Could Soon Be A Reality: Influential Trading Group 
  • Crypto Rand Investment Group shares a list of potential changes that Musk could integrate after Twitter’s acquisition.
  • The group shared that Elon Musk could also incorporate a crypto payment feature on Twitter in a bid to transform the microblogging social network.

The crypto market is ablaze with new assumptions and opinions after Tesla’s CEO, Elon Musk, announced his decision to renew his Twitter buyout deal. With the proposition back on track, Crypto Twitter is full of sentiments and ideas about what the new Twitter should be like under the supervision of Tesla Chief Elon Musk.

In this wake, Crypto Rand Investment Group shared what the firm actively expects Musk to alter or rectify if the deal fructifies sometime in the near future.

Investment Group Crypto Rand Shares Its Vision Of What The New Twitter Should Look Like Under Musk’s Supervision

The Crypto Rand Group took to Twitter to share a list of new changes that the Tesla chief may introduce if the Musk-Twitter buyout deal is finalised in the near future. According to the firm, Musk could also introduce crypto payments on Twitter, which may bolster the sector to a whole new level.

Elon Musk had previously announced his decision to integrate Dogecoin payments into Twitter Blue. The firm further shared that Musk could also experiment with the general structure of the microblogging site and may introduce an edit button to allow users to edit their already published tweets.

Notably, Twitter Blue has already started exploring ways to introduce the edit button, which currently seems to be in the early testing phase.

hello

this is a test to make sure the edit button works, we’ll let you know how it goes

— Twitter Blue (@TwitterBlue) September 29, 2022

The firm further shared how Elon Musk could also be working towards weeding out rampant crypto bots. While attending a TED talk in April, Musk acknowledged the growing issue of rife crypto bots on Twitter and expressed his desire to eliminate crypto bots on Twitter.

“If I had a dogecoin for every crypto scam I saw, we’d have 100 billion dogecoins.” “A top priority I would have is to eliminate the spam and scam bots and the bot armies that are on Twitter”

Elon Musk Renews His Twitter Buyout Deal 

Elon Musk, the CEO of Tesla Motors, made a surprising revelation on Tuesday.

Musk actively announced his decision to renew his Twitter buyout deal, which had earlier gone awry due to Twitter’s failing to disclose the crypto bot information requested by Musk.

The Tesla chief is once again keen on acquiring Twitter and has proposed a $44 billion deal to proceed with the acquisition. In response to recent developments, Twitter issued a counter statement, adding that it intends to close the transactions at $54.20 per share after receiving the letter from Musk. Notably, Twitter’s stock reacted favourably to the news, trading at $52 after surging as much as 20%.

In addition, meme-inspired cryptocurrency Dogecoin also surged past 6% on Wednesday when Musk unveiled his intention to purchase Twitter again. At press time, Dogecoin is up 1.96% and is sitting at $0.06409.

Musk further tweeted how Twitter’s acquisition could help in accelerating the development of “X,” which has been described as an “everything app” by the SpaceX CEO.

Buying Twitter is an accelerant to creating X, the everything app

— Elon Musk (@elonmusk) October 4, 2022

Go to Source

Click to comment

Leave a Reply

Ethereum

Binance Makes Multi-Billion Dollar Transfers Following FTX’s Collapse

Published

on

Binance Makes Multi-Billion Dollar Transfers Following FTX’s Collapse
  • Binance has made transfers worth several billion dollars since the downfall of FTX.
  • Many of these transactions are associated with proof of reserves demonstrations undertaken by centralized exchanges.
  • A recent transaction of $2 billion caught the attention of on-chain whale watchers.
  • Changpeng Zhao has stated that the transaction was to prove ownership of the wallet. 
  • The exchange has clarified that more of these large transactions will take place to verify the ownership to auditors. 

The downfall of FTX has paved the way for the world’s largest crypto exchange to cement its position as the most popular exchange. Binance has been actively involved in the aftermath of FTX’s collapse, from indirectly triggering the bank run on the Bahamas-based exchange, to leading the way in establishing greater transparency in the industry by publishing proof of reserves. 

$2 billion transferred by Binance

Blockchain intelligence firm Arkham Intelligence published a Twitter thread that took a closer look at the billions of dollars that Binance has moved around over the past few days. The report was prompted after on-chain whale watchers alerted crypto Twitter about a massive transfer by the exchange that involved 127,351 BTC worth a little over $2 billion. 

The transfer was seen as a bad sign by many on Twitter given the current crypto climate. Binance had recently published its proof of reserve (PoR) and users on Twitter speculated that the transfer was actually the exchange reversing funds upon completion of the PoR. CEO Changpeng soon clarified that the massive transaction was in fact part of the PoR, but not how it was being perceived. 

“The auditor require us to send a specific amount to ourselves to show we control the wallet. And the rest goes to a Change Address, which is a new address. In this case, the Input tx is big, and so is the Change.” CZ tweeted. 

Binance previously published its PoR, but some still remain skeptical because the exchange has not provided any details about its liabilities, in addition to there being no evident segregation between its own assets and customers’ funds. 

Arkham Intelligence also shed light on some of Binance’s other recent transfers. For instance, the $1 billion BUSD transfer by the exchange which was supposedly for the Industry Recovery Fund launched by CZ. Binance also received close to $1 billion from Tether as part of its chain swap from Solana to Ethereum. 

Go to Source

Continue Reading

Ethereum

BlockFi declares bankruptcy, files Chapter 11

Published

on

BlockFi declares bankruptcy, files Chapter 11

Summary:

  • Crypto lender BlockFi declared bankruptcy on Monday after exposure to FTX.
  • The company had some 100,000 creditors and around $256 million in cash when chapter 11 was filed.
  • FTX backed the lender with a $250 million loan following Three Arrows Capital exposure.

Cryptocurrency lender BlockFi filed for chapter 11 bankruptcy on Monday following exposure to troubled crypto exchange FTX, the exchange founded by Sam Bankman-Fried. 

BlockFi held $256.9 million in cash when it filed for bankruptcy. The company also has around $1 billion in assets and liabilities alike. Per details of the filing, the lender boasts over 100,000 creditors including FTX US and the Securities and Exchange (SEC). 

The crypto lender reported $275 million in unsecured claims tied to FTX US. Notably, Sam Bankman-Fried’s exchange loaned $250 million to BlockFi back in June. At the time, BlockFi faced liquidity concerns after exposure to insolvent crypto hedge fund Three Arrows Capital (3AC).

Also, the lender owes $30 million to the SEC as part of a settlement agreement from February 2022. The largest creditor was Ankura Trust Company LLC with a $729 million claim.

BlockFi joined the chat

Celsius, FTX, Voyager, and now BlockFi all filed for bankruptcy in 2022 as the bear market unsettled crypto CeFi players. Hackers exploited loopholes in DeFi smart contract code, stealing billions from protocols, cross-chain bridges, and other decentralized finance solutions. Reports said October was the worst month for crypto hacks so far.

Nevertheless, the decentralized technology that backs digital assets jumped forward in leaps and bounds. Ethereum, the second largest blockchain behind Bitcoin, successfully deployed a major technological upgrade.

Blackrock and Google tapped crypto for services and offerings as well, signaling institutional interest.

Go to Source

Continue Reading

Ethereum

Amazon Taps The Russo Brothers For TV Series About The FTX Saga

Published

on

Amazon Taps The Russo Brothers For TV Series About The FTX Saga
  • Amazon is set to release an eight-part series based on the collapse of FTX.
  • The streaming giant has teamed up with the Russo brothers and David Weil for the production of this series.
  • The Russo brothers have described the FTX scandal as one of the most brazen frauds ever committed. 
  • Apple is also working on a movie based on Sam Bankman-Fried’s activities in the run-up to FTX’s implosion.

Streaming giant Amazon has partnered up with famed directors Anthony Russo and Joseph Russo, also known as the Russo brothers, to release an eight-part TV series based on the spectacular collapse of Bahamas-based crypto exchange FTX.

Amazon will begin production in spring 2023

According to a report by Variety, the streaming firm has teamed up with AGBO, the production company of the Russo brothers who are known for their involvement with several Marvel movies. David Weil is set to be the executive producer of the show, in addition to writing the pilot. The show will go into production in spring 2023 and will be based on “insider reporting” by journalists who covered the downfall of what was once the world’s second-largest crypto exchange. 

This is one of the most brazen frauds ever committed; It crosses many sectors – celebrity, politics, academia, tech, criminality, sex, drugs, and the future of modern finance. At the center of it all sits an extremely mysterious figure with complex and potentially dangerous motivations. We want to understand why.” the Russo brothers said.

Amazon is reportedly trying to get the famed duo to direct the series as well. 

Apple is nearing a deal for book rights on SBF & FTX

Fellow streaming firm Apple is also looking to get a piece of the FTX pie. According to a report by Deadline, Apple is about to close a deal for the book rights to Michael Lewis’ story about the fall of Sam Bankman-Fried and his crypto empire. 

Michael Lewis is known for several books that were adapted into popular movies like Moneyball and The Big Short. Lewis had been following Bankman-Fried for six months before his exchange imploded, taking down several companies with it. The deal is reportedly in the mid-seven figures range and is expected to be adapted into a feature film. 

Go to Source

Continue Reading
Home | Latest News | Cryptocurrency | Ethereum | Crypto Payments On Twitter Could Soon Be A Reality: Influential Trading Group 
a

Market

Trending