BNB jumps to new BTC all-time high as Elon Musk’s Twitter fuels DOGE bulls
BNB (formerly known as Binance Coin) has hit new all-time highs against Bitcoin (BTC) as excitement grows over the cryptocurrency’s future role on Twitter. BNB/BTC 1-month candle chart (Binance). Source: TradingView BNB sets new record against BTC Data from Cointelegraph Markets Pro and TradingView confirms that BNB/BTC briefly spiked above 0.15 BTC to a record 0.15267 BTC on Oct. 30. BNB, the in-house token of Binance, the largest crypto exchange by volume, has gained around 10% in the past 72 hours. The strong performance came on the back of reports that Binance was preparing to assist Twitter in eradicating bots as part of its new direction under Elon Musk. Binance had contributed $500 million to Musk’s takeover of the social media platform. “Our intern says we wired the $500 ...
Dogecoin price rallies 150% in 4 days, but DOGE now most ‘overbought’ since April 2021
The Dogecoin (DOGE) price rally extended further on Oct. 29 in hopes that the cryptocurrency would get a major boost from Elon Musk’s Twitter acquisition. Elon Musk boosts Dogecoin price again Dogecoin price jumped by nearly 75% to reach $0.146 on Oct. 29, the biggest daily gain since April 2021. DOGE/USD daily price chart. Source: TradingView Notably, the meme-coin’s massive intraday rally came as a part of a broader uptrend that started earlier this week on Oct. 25. In total, DOGE’s price gained 150% during the Oct. 25-29 price rally. The surge was also accompanied by a decent increase in its daily trading volumes. That coincided with a spike in the number of DOGE transactions exceeding $100,000, according to Santiment. Both indicators sugges a growing demand for Dogeco...
Binance may form a team to support Twitter’s blockchain efforts
According to reports on Oct. 28, crypto exchange Binance intends to create a team to work on crypto and blockchain solutions for Twitter, following the acquisition of the social media company by tech billionaire Elon Musk. The development came hours after Binance’s founder and CEO, Changpeng “CZ” Zhao, confirmed that the company had backed Musk with $500 million in financing, making the crypto exchange the fourth-biggest contributor to the takeover amid 19 investors that provided $7 billion to Tesla’s founder. On Twitter, CZ confirmed that the money was wired earlier this week and clarified that the transaction was performed through traditional banking services using fiat currency, not via cryptocurrencies or blockchain protocols. In May 2022, the crypto exchange had in...
Phony Stark aka Elon Musk Closes On Twitter Deal, Lays Off Execs
HipHopWired Featured Video Source: Anadolu Agency / Getty Elon Musk has officially closed the deal to acquire Twitter, and one of his first immediate actions was to fire three lead executives at the company. According to reports, the billionaire had to finalize the deal by Friday (Oct. 28) per the terms of the agreement he made to purchase the social media platform. He announced the closure on Twitter with a simple message: “the bird is freed.” He wasted no time in making changes, as Twitter CEO Parag Agrawal, CFO Ned Segal, and Head of Legal Policy, Trust, and Safety Vijaya Gadde were immediately fired. Reports stated that they left the San Francisco offices soon after the decision. The move was expected, as Musk had been highly critical of higher management in the months leading up to th...
Elon Musk Officially Closes Twitter Deal, Fires Top Executives
After much deliberation and legal back-and-forth, Elon Musk has officially finalized his purchase of Twitter. He closed the $44 billion deal late on Thursday, October 27th. Per The Washington Post, one of Musk’s first moves was firing top Twitter executives including CEO Parag Agrawal, chief financial officer Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety. The company’s general counsel, Sean Edgett, was also let go. “The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk wrote on Twitter prior to formalizing the deal. “I didn’t do it to make money. I did it to help humanity, whom I love.” Advertise...
Phony Stark aka Elon Musk May Layoff 75% Of Twitter Workers
HipHopWired Featured Video Source: Anadolu Agency / Getty A new report concerning billionaire Elon Musk and his impending acquisition of Twitter says that he may let go of up to 75% of the company’s workforce. According to one report, the Tesla founder has stated to prospective investors in the social media platform that he’s planning to get rid of up of 75% of the workforce once his deal to acquire Twitter is closed. The news, delivered Thursday (Oct. 20), sent shockwaves throughout the tech industry. It was confirmed that the company had already planned layoffs among its 7,500-employee workforce in addition to shuttering key data centers. A lawyer for Elon Musk declined to comment when contacted by the press, but the billionaire reportedly told people on an earnings call for Tesla that h...
Celsius users concerned over personal info revealed in bankruptcy case
Crypto lending platform Celsius filed for Chapter 11 bankruptcy on July 13, 2022. Although the Celsius case involves digital assets, it remains subject to United States Bankruptcy Code under the Bankruptcy Court for the Southern District of New York. While this may be, a series of unusual events have ensued since Celsius filed for bankruptcy. For instance, Chief United States Bankruptcy Judge Martin Glenn — the judge overseeing the Celsius case — stated on Oct. 17 that the court will look abroad for guidance. Glenn specifically mentioned that “Legal principles that are applicable in the United Kingdom are not binding on courts in the United States,” yet he noted that these “may be persuasive in addressing legal issues that may arise in this case.” While the treatment of the Celsius c...
Unsung hero saves DeFi protocol from potential exploit: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The last week’s headline was dominated by some of the biggest hacks in DeFi. This week is redemption time for many DeFi protocols that either averted an attempted hack or got a significant chunk of their stolen funds back. The BitBTC bridge reportedly had a bug that would essentially allow an attacker to mint fake tokens on one side of the bridge and swap them for real ones. However, one Twitter user was able to foresee the vulnerability and informed the cross-bridge platform about it. The Moola Market attacker has scored about a half-million dollar “bug bounty” after choosing to return a majority of the cryptocur...
Kanye West AKA Ye Cut Off From Twitter & Instagram For Antisemitic Comments
HipHopWired Featured Video Source: Stephane Cardinale – Corbis / Getty Kanye West, AKA Ye, went on recent social media rampages, airing out personal conversations and hurling accusations against some of his business associates. During these rants, the famed rapper, producer, and designer took aim at the Jewish community with antisemitic comments, causing him to be cut off from Twitter and Instagram. Over the weekend, Kanye West was already locked out of Instagram for violating its user policies and used Twitter to call out Meta owner Mark Zuckerberg, whose company owns Instagram and WhatsApp. Later, Elon Musk welcomed Ye back with open arms on the platform that the Tesla founder is reportedly slated to purchase. Related Stories Hip-Hop Wired reported on one of the tweets in question that s...
How Crypto Twitter could change under Musk’s leadership
Barring another change of heart and certain conditions to be met, Elon Musk’s acquisition of Twitter looks set to go ahead, prompting the question of whether some or all of the changes he initially hinted for the platform will become a reality. The platform is a popular communication and news tool for crypto enthusiasts, users and investors, not to mention crypto scammers, with the social media platform seeing roughly 120,000 tweets per day about #Bitcoin alone, according to BitInfoCharts. Looking back at Musk’s initial commentary when he proposed a buyout of Twitter could shed some light on what changes he envisions for the platform. This includes a focus on free speech, eliminating spam bots, fake accounts, an edit function and possibly even crypto payments have all been considered...
Phony Stark, AKA Elon Musk Finally Agrees To $44 Billion Twitter Purchase
HipHopWired Featured Video Source: NurPhoto / Getty Phony Stark, aka Elon Musk, wants to buy Twitter. No, for real this time. We think. Yahoo! Finance reports the Tesla chief finally agreed to purchase Twitter, and the social media company has also decided to honor Musk’s initial proposal. Per Yahoo! Finance: Twitter has agreed — once again — to Elon Musk’s proposal to buy the company for $54.20 a share. In a statement, Twitter confirmed it had received Musk’s letter that “the intention of the Company is to close the transaction at $54.20 per share.” Related Stories The agreement follows months of legal drama after Musk tried to back out of his original agreement to buy the company for $44 billion this spring. The two sides were set to go to trial later this month as Twitter...
Elon Musk Agrees to Buy Twitter (Again) at Original Price of $44 Billion: Report
Elon Musk has agreed to buy Twitter at his original proposed price of $54.20 per share, or about $44 billion total, Bloomberg reports and the New York Times confirms. Few details are known at this time. Musk is said to have expressed his renewed interest in a letter to the social media giant on the evening of October 3rd and met in court with Twitter representatives the morning of October 4th. Musk began trying to back out of the purchase agreement almost as soon as Twitter accepted it his original offer in April. He accused the platform of misleading or lying to investors about its number of daily active users, saying in May that the deal “cannot move forward” until Twitter proved that less than 5% of users are bots or spam accounts. Advertisement Related Video The Tes...
