CryptoSlate Wrapped Daily: Elon Musk seeks to move ahead with $44B Twitter deal; Justin Sun wants to buy Credit Suisse’s assets

1 year ago

The biggest quality successful the cryptoverse for Oct. 4 includes Elon Musk making a caller connection for Twitter, Celsius readying to auction assets, Justin Sun offering to bargain Credit Suisse’s assets, and Charles Hoskinson calling for an extremity to Bitcoin mining.

CryptoSlate Top Stories

DOGE up 8% arsenic Elon Musk makes caller acquisition connection for Twitter

Elon Musk is backmost connected the deals array arsenic helium offers to bargain up Twitter for $44 cardinal astatine $54.20 per share.

Following the news, DOGE spiked 8% to scope a precocious of $0.066. Elon Musk had earlier hinted astatine the anticipation of utilizing Dogecoin to pay for Twitter Blue.

Crypto giants knock Twitter connected scam, bot accounts impersonating them

Twitter bots are making the societal media level unconducive for galore crypto giants, and the crypto assemblage arsenic a whole.

Ripple’s CEO Brad Garlinghouse, Binance CEO Changpeng Zhao, Cardano’s laminitis Charles Hoskinson, and Ethereum cofounder VItalik Buterin person each called connected the societal media level to code the menace.

Buterin said that turning Twitter into an unfastened API volition spot 3rd parties travel connected committee to assistance resoluteness the issue.

Cardano laminitis Charles Hoskinson calls for an extremity to Bitcoin mining

With the expanding inferior of wrapped Bitcoin (wBTC) connected astute declaration platforms, Cardano’s laminitis has called for an extremity to Bitcoin mining.

Charles Hoskinson explained that Bitcoin mining whitethorn not beryllium a bully concern of vigor arsenic determination is simply a batch much BTC successful circulation that those near to mine.

Hoskinson added that since the Bitcoin blockchain is not optimized for different usage cases, existing BTC should beryllium converted into wBTC truthful they tin beryllium utilized crossed decentralized concern Dapps.

Justin Sun pulls an FTX and offers to bargain ailing Credit Suisse’s assets

Global slope Credit Suisse is presently astatine the hazard of a fatal illness arsenic its banal terms has declined by implicit 60% (year-to-date).

Tron laminitis Justin Sun has hinted astatine possibilities of buying up assets of the struggling Credit Suisse and bringing them into Web3.

Bankrupt crypto lender Celsius to auction assets connected Oct. 20

In a caller tribunal filing, Celsius Network expressed intentions to auction disconnected its assets to funny bidders. The auction is scheduled for Oct. 20 and whitethorn pull imaginable bidders similar FTX and Goldman Sachs.

Many Celsius creditors including Simon Dixon entity to the auction plan, saying that the steadfast needs a re-organization, not a sale.

Coinbase documentary “COIN” to debut Oct. 7

Coinbase is acceptable to merchandise the ‘COIN” connected Oct. 7. The documentary spotlights CEO Brian Armstrong’s communicative and travel to gathering the archetypal publically traded cryptocurrency exchange.

Armstrong said helium intends to usage the documentary to unveil what it takes to physique a tech startup and promote much radical to physique companies that tin amended quality existence.

Decentralized Social (DeSo) stands retired successful level market, up 156% implicit past month

Decentralized social’s (DeSo) token spiked by implicit 156% since Sept. 28. It reached an all-time precocious of $21.45 connected Oct. 3 and has since declined by implicit 32% to beryllium trading astatine $14.5, arsenic of property time.

DeSo was initially launched arsenic Bitclout- a trading level for “Creator Coins”. However, since raising implicit $200 cardinal successful Sept. 2021, the level has rebranded to presumption arsenic a furniture 1 blockchain powering decentralized societal media applications.

Climate start-up partners with Ripple to motorboat marketplace for c credits

Ripple has teamed up with clime startup Thallo to pat into the $2 cardinal c credits market.

Thallo leveraged Ripple’s carbon-neutral level to physique a marketplace to link buyers and sellers of c credits, to execute their transactions successful an easy verifiable manner.

Over $4B laundered done DEXs, coin swaps and cross-chain bridges, Elliptic report

Of the $4 cardinal laundered funds covered successful the Elliptic report, astir $3.3 cardinal was laundered done decentralized exchanges.

Three of the apical starring DEXes (1inch, Curve.fi, and Uniswap) accounted for 75% of each illicit crypto swaps, portion Paraswap and CoW protocol accounted for 14% of the laundering acts.

Research Highlight

Grayscale’s GBTC drops to all-time debased of $12.5K; conversion to spot ETF could trigger rebound

Grayscale’s bitcoin spot (GBTC) traded astatine an all-time debased discount of -36%, equivalent to $12,500 erstwhile compared to the spot BTC terms of $19,000.

Despite the existent -36% discount, investors’ involvement successful the GBTC shares remains low. However, immoderate expert predicts that the discount could vanish if Grayscale received support to connection a spot bitcoin ETF.

Drawing a parallel with the archetypal approved Gold ETF successful 2003, CryptoSlate Research revealed that a spot bitcoin ETF could pb to a rebound successful BTC price, and apt trigger the adjacent bull run.

News from astir the Cryptoverse

Crypto scale money manager Bitwise launches Web3 ETF

Bitwise has listed its Web3 ETF connected the NYSE Arca, pursuing a filing with the SEC connected Oct. 4.

The ETF volition springiness investors vulnerability to web3 companies successful 5 categories: finance, metaverse, infrastructure provider, web3-enabled creator economy, and governance.

Crypto Market

It was a greenish time for the crypto marketplace arsenic Bitcoin (BTC) soared by 3.84% to scope a precocious of $20,285. Ethereum (ETH) followed the uptrend arsenic it accrued 2.99%, trading astatine $1,356.