The R Roundup: Twitter’s New Ownership Welcomes Web 3 — Issue #60
Everyone remotely interested in the tech industry has been made aware of Elon Musk's loud takeover of one of the world's largest social media platforms, Twitter. While his motivations for this $44b purchase lie further than blockchain, Elon is highly familiar with the rhetoric and the potential crypto has.
Known for his involvement with Doge, Elon has already made several strides to excel in crypto’s involvement in Twitter with investors in his takeover deal, including Binance.
Additional reports broke last week suggesting that Twitter is also exploring the development of its wallet that supports crypto deposits and withdrawals.
It will certainly be interesting to see the difference in Twitter’s response and approach to crypto now that Elon owns the platform .
UK Votes To Recognise Crypto As Financial Instrument🇬🇧
With ever declining economies, there has been a search for advancing innovation that states can rely on in order to identify a solution. The UK has gone through a power shift with Rishi Sunak, who is known to be pro-crypto, taking the role as Prime Minister.
Following this power shift, lawmakers in the UK voted for the recognition of crypto as a regulated financial instrument and product. The vote was passed by the House of Commons.
The Financial Services & City Minister, Andrew Griffith, said the following:
“The substance here is to treat (crypto) them like other forms of financial assets and not to prefer them, but also bring them within the scope of regulation for the first time.”
Crypto Prices Sees Short Term Rally🔺
The bear market can often leave investors searching desperatley to grasp any indication of a relief rally however, after a few weeks of rangebound price action, there seems to have been a short term relief rally to the upside.
Team Finance Suffers $14.5m Exploit⛔️
Crypto has become accustom to exploits in recent dates which makes it no surprise that another hack has made it into this weeks headlines.
Team.Finance announced that they had been alerted of a hack whilst they were working to a solution, they were in search of the exploiter to get in touch with them in return for a bounty.
Team.Finance released a incident report explaining the events unfolding following the exploit.
ICYMI; Looking Into The Paradox Epi 3–5s Dos & Don’ts Of Macroeconomic Analysis🔬
For all of those familiar with our content library, we always attempt to provide the highest extent of reader friendly crypto material!
You should read our blueprint for analysing the macroeconomy that we published for all of our readers yesterday!
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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