Elon Musk seeks to move ahead with $44B Twitter deal; Justin Sun wants to buy Credit Suisse’s assets
The biggest news in the Cryptoverse on October 4th included Elon Musk taking to Twitter with a new offer, Celsius planning to auction assets, and Justin Sun offering to buy Credit Suisse assets. , including Charles Hoskinson calling for the end of bitcoin mining.
CryptoSlate Top Stories
DOGE jumps 8% as Elon Musk makes new takeover offer to Twitter
Elon Musk is back on the trading table with an offer to buy Twitter for $44 billion at $54.20 per share.
Following the news, DOGE jumped 8% to reach an all-time high of $0.066. Elon Musk has previously hinted at the possibility of using Dogecoin to pay for his Twitter Blue.
Cryptocurrency giant criticizes Twitter for fraud, impersonation bot accounts
Twitter bots are making social media platforms a disservice to many crypto giants, and the crypto community at large.
Ripple CEO Brad Garlinghouse, Binance CEO Changpeng Zhao, Cardano founder Charles Hoskinson, and Ethereum co-founder VItalik Buterin have all called on social media platforms to address the threat. .
Buterin Said Turning Twitter into an open API will bring in third parties to help solve problems.
Cardano founder Charles Hoskinson calls for Bitcoin mining to stop
Cardano founders are calling for an end to Bitcoin mining as the utility of Bitcoin wrapped in smart contract platforms (wBTC) grows.
Charles Hoskinson explained that bitcoin mining may not be a good investment for energy.
Hoskinson added that the Bitcoin blockchain is not optimized for other use cases, so existing BTC should be converted to wBTC so that it can be used across decentralized financial Dapps.
Justin Sun pulls FTX and offers to buy ailing Credit Suisse assets
Global bank Credit Suisse is now in danger of a fatal collapse as its share price is down more than 60% (year-to-date).
Tron founder Justin Sun has hinted at the possibility of buying the assets of struggling Credit Suisse and bringing them to Web3.
Bankrupt Crypto Lender Celsius to Auction Assets Oct. 20
In a recent court filing, Celsius Network announced its intention to auction the property to interested bidders. The auction is scheduled for his October 20th and could attract potential bidders such as FTX and Goldman Sachs.
Many Serbian creditors, including Simon Dixon, are opposed to the proposed auction, saying a reorganization is needed rather than a sale.
Coinbase Documentary “COIN” Debuts October 7th
Coinbase plans to release “COIN” on October 7th. This documentary highlights CEO Brian’s Armstrong story and his journey to building the first public cryptocurrency exchange.
Armstrong said he intends to use the documentary to shed light on what it takes to build a tech startup and encourage more people to build companies that can improve human existence. I was.
Decentralized Social (DeSo) Stands Out in a Flat Market, Up 156% M/M
Decentralized Social (DeSo) tokens surged over 156% since September 28th. It reached an all-time high of $21.45 on October 3 and has since fallen more than 32%, trading at $14.5 at the time of writing.
Deso It originally started as Bitclout, a trading platform for ‘Creator Coins’. However, since he raised over $200 million in September 2021, the platform has been rebranded to position itself as a Layer 1 blockchain powering decentralized social media applications.
Climate Startup Partners With Ripple To Launch Marketplace For Carbon Credits
Ripple has partnered with a climate change startup Taro Enter the $2 billion carbon credit market.
Thallo leveraged Ripple’s carbon-neutral platform to build a marketplace that connects buyers and sellers of carbon credits, executing transactions in an easily verifiable manner.
More than $4 billion laundered through DEXs, coin swaps and cross-chain bridges, Elliptic reports
Of the $4 billion covered money laundered, ellipse report, About $3.3 billion was laundered through decentralized exchanges.
Three of the major DEXs (1 Inch, Curve.fi, and Uniswap) accounted for 75% of all illegal crypto swaps, while Paraswap and the CoW protocol accounted for 14% of laundering activity.
research highlights
Grayscale GBTC drops to all-time low of $12.5K.Conversion to spot ETFs could trigger a rebound
Grayscale Bitcoin Trust (GBTC) traded at its lowest ever discount of -36%, equivalent to $12,500 compared to the BTC spot price of $19,000.
Investor interest in GBTC shares remains low despite the current -36% discount. However, some analysts predict that discounts may disappear if Grayscale gets approval to offer a spot Bitcoin ETF.
Similar to the Gold ETF, first approved in 2003. cryptoslate research A physical bitcoin ETF could lead to a BTC price rally and trigger the next bull market.
News around Cryptoverse
Crypto Index Fund Manager Bitwise Launches Web3 ETF
Bitwise listed the Web3 ETF on NYSE Arca after filing with the SEC on October 4.
The ETF offers investors exposure to web3 companies in five categories: financials, metaverse, infrastructure providers, web3-enabled creator economy, and governance.
crypto market
It was a green day for the cryptocurrency market as Bitcoin (BTC) climbed 3.84% to reach an all-time high of $20,285. Ethereum (ETH) followed the uptrend, gaining 2.99% and trading at $1,356.
