🔥 Elon Musk Wants to Buy Out Twitter


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April 14, 2022

Welcome to your daily Cryptonews Crunch. It has been an interesting Thursday in the crypto markets as Elon Musk offered to buy 100% of Twitter to take it private and the European Central Bank maintained a cautious tone on its monetary policy tightening.

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Source: CoinMarketCap.com

Elon Musk Offers to Buy 100% of Twitter, Calls it 'Best and Final Offer'

Tesla CEO Elon Musk has reportedly offered to buy 100% of Twitter at a price of USD 54.20 per share, after taking a stake of 9.2% earlier this month.

Musk's offer would value Twitter at close to USD 43.4bn, up from a current market capitalization of USD 36.7bn. It would also mean that the company would no longer be a publicly listed company, and instead become one of America's most valuable privately-owned companies.

Musk reportedly called the offer his "best and final offer," the Wall Street Journal reported, quoting the largest shareholder of Twitter as saying that "If it is not accepted, I would need to reconsider my position as a shareholder."

"I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk was quoted as saying.

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ECB Offers Cautious Tone on Monetary Policy Tightening

The European Central Bank (ECB) said it will stick to its plan to end its stimulus program and tighten monetary policy, but kept options open in light of uncertainty over the economic impact of the war in Ukraine. Bitcoin (BTC) reacted by moving slightly higher on the news before correcting lower.

"We will maintain optionality, gradualism and flexibility in the conduct of our monetary policy," ECB President Christine Lagarde said during a press conference on Thursday.

As widely expected, the central bank decided to keep interest rates in the euro area unchanged at 0%. It further said that any changes to the key ECB interest rates will take place "some time after" the bank's asset purchase program has been ended, and stressed that such changes will be "gradual."

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Cryptonews Podcast

#117: Privacy, Zero Knowledge Proofs & 2011 Bitcoin Mining w/ Warren Paul Anderson

Warren Paul Anderson is VP of Product at Discreet Labs, which is developing Findora, a public blockchain with programmable privacy. Previously, Warren led products at Ripple for 4.5 years working on the XRP Ledger, Interledger, and PayString protocols, the RippleX platform, and RippleNet's On-Demand Liquidity enterprise product.

Prior to Ripple, in 2014 Warren co-founded Hedgy, one of the first DeFi platforms for derivatives using programmable, escrowed smart contracts on the Bitcoin blockchain.

In this conversation, he and our host Matt Zahab discuss:

- Mining in 2011
- Starting a DeFi company in 2014
- XRP - hating it or loving it
- Misconceptions about privacy in crypto
- Scaling in Privacy
- Lack of Hardware in crypto
- Programmable privacy

Tune In!

Daily Briefs

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Twitter founder Jack Dorsey's first-ever tweet, which sold for USD 2.9m worth of ethereum (ETH) back in March 2021, was put up for auction again and was apparently expected to fetch at least USD 50m, but has so far received the highest bid of just over USD 6,200.
Ava Labs reportedly aims to pursue a new USD 350m funding round.
Wikipedia is reportedly considering to stop accepting all forms of crypto donations following a similar move by Mozilla, which stopped all Proof-of-Work-based asset donations earlier in the week due to environmental concerns.
Gaming fintech ZEBEDEE and UK mobile gaming studio Fumb Games have joined forces to release Bitcoin Miner, a game that provides players with real BTC for running a simulated crypto mining operation.
Amazon is "not probably close" to adding crypto as a payment mechanism to their retail business, CEO Andrew Jassy told CNBC.
The Dallas Cowboys announced a partnership with crypto platform Blockchain.com.
Research firm Roy Morgan said that 5% of surveyed Australians older than 18 now own at least one cryptoasset.
Ethereum Push Notification Service (EPNS) has raised a USD 10.1m Series A funding round, with an average valuation of USD 131m.
Blockchain ecosystem Klaytn (KLAY) announced the launch of a USD 20m fund to create a Blockchain Research Center program.
Skynet EGLD Capital raised more than USD 40m to support the development of the Elrond (EGLD) blockchain ecosystem.
Symphony Digital announced the closing of its inaugural fund, Symphony Digital Opportunities Fund, securing USD 40m from institutional and private investors.
Gemini announced their Gemini Credit Card is now available in all 50 US states.
Bitfinex is enabling real-time Single Euro Payments Area (SEPA) payments for euro-denominated deposits and withdrawals in collaboration with fiat on-ramp services provider OpenPayd.
Indian crypto exchanges CoinSwitch Kuber and WazirX have disabled INR deposits for the purchase of cryptoassets through a widely-used state-backed transfer network Unified Payments Interface (UPI).
ZenLedger announced a partnership with the major, France-based manufacturer of crypto hardware wallets, Ledger, to allow users to keep track of their taxes when using crypto.
Decentralized storage and computing network Aleph.im announced that it will integrate with Tezos (XTZ) blockchain.