Illustration by Mitchell Prever for decoding
The most important tweet on Crypto Twitter this week was an announcement on Friday by Twitter owner and CEO Elon Musk naming his replacement, Linda Iaccarinoas the platform’s new CEO.
Musk will continue to serve Twitter as Chairman of the Board and Chief Executive Officer.
Yaccarino left her job as the head of advertising at NBCUniversal Friday morning to take on the task of helping Musk turn Twitter into X, the “everything app” he envisioned that would include social media and payments (possibly including crypto) modeled on China WeChat.
Musk is also a supporter of cryptocurrency. His electric company Tesla is currently in business one of the largest Institutional HODLers of Bitcoin, even beyond He sold three-quarters From her original collection. He is a fan of Dogecoin, and his frequent tweets about it often drive up the price. He even replaced the blue bird logo on Twitter with the Doge meme of some daysso a possible crypto integration is conceivable, especially as a payment option.
Elsewhere on Crypto Twitter this week, Coinbase CEO Brian Armstrong kicked things off by praising the UAE for “Clear rule bookWhen it comes to encryption regulations.
Coinbase is a publicly traded US company, but the hostile domestic regulatory environment is pushing it abroad. The company recently obtained a license to operate in Bermuda And you used it to open a file international exchange Introducing perpetual futures contracts for Bitcoin and Ethereum. It is also currently talking with the Financial Services Regulatory Authority (FRSA), the regulator of the Abu Dhabi Global Market (ADGM) – the UAE’s crypto-friendly free economic zone – about opening a regulated exchange there.
Patrick Hansen, Director of EU Strategy and Policy at Circle, on Tuesday shared an infographic showing how MiCA is stealing the wind from the US’s sails. EU lawmakers last month MiCA approved, or the bill for markets in Crypto Assets, which now means that the bloc has a unified regulatory approach across all of its 27 member states, and licenses granted to crypto firms in one country can be a “passport” to another member state. rules on stablecoins It will go into effect in July 2024, while the other requirements will not be implemented until January 2025.
On Tuesday, US President Joe Biden pitted himself against “MAGA House Republicans” allied with “wealthy crypto investors” looking for loopholes to avoid paying taxes. The POTUS tweet was later reported by Fact checkers Who added context that all cryptocurrency earnings are subject to capital gains tax.
Also on that day, a video shared by MicroStrategy chair and institutional Bitcoin whale Michael Sadler surfaced. Bitcoin’s ardent and predictable follower, Saylor, says that the bitcoin price will “go out of its way – with volatility – forever.”
Bitcoin mining revenue levels are now at the level they were a year ago, according to a table shared by Will Clemente, co-founder of independent digital asset research firm Reflexivity Research.
Stablecoin issuer Tether’s revenue topped 1 billion, as it was certified in Q1 2023. This means it comfortably beats Blackrock, the world’s largest asset manager. At its peak, Blackrock became the first asset manager to take charge $10 trillion in assets in the fourth quarter of 2022, but that’s down to $8.59 trillion as of Fourth quarter 2023.
Another day, another crypto scammer came to light by way of blockchain investigator ZachXBT.
Freelance Ethereum guru Anthony Sasano called Ethereum staking “up only” on Wednesday.
Retired ExxonMobil exec Tom Glass, who is currently seeking the Republican nomination for State House District 17, broke the news that Texas lawmakers voted overwhelmingly in favor of an update to state bill of rights to include the right of individuals to own, hold, and use digital currencies.
Finally on Thursday, Web3 law expert MetaLawMan wrote a thread explaining how important the news that the US Chamber of Commerce Make a friend note For continued Coinbase support Court petition To have the securities regulator clarify its rules.
#Week #Crypto #Twitter #Musk #Welcomes #Twitter #CEO #Access #App #Decrypt