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Elon Musk Postpones Twitter Deal, Two Execs Leave Company

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© Reuters. Elon Musk Postpones Twitter Deal, Two Execs Leave Company

    • Elon Musk postpones his plans to buy Twitter (NYSE:TWTR).
    • Two Twitter executives are leaving the company.
    • Trump’s return to Twitter is also postponed.

As Tesla (NASDAQ:TSLA) stock prices dropped, Elon Musk announced his decision of postponing his plans to buy Twitter. The delay came with many other obstacles as Twitter executives are starting to leave after years of service in the company.

The news came in a tweet on Elon Musk’s official Twitter page.

Meanwhile, Twitter has announced that two of the bosses are already leaving the company. The two members are Kayvon Beykpour, who led Twitter’s consumer division, and Bruce Falck, who oversaw revenue. Both of the members tweeted on Thursday that the departures were not their decisions.

Kayvon Beykpour talked about his resignation in a series of tweets, where he said in the second tweet “The truth is that this isn’t how and when I imagined leaving Twitter, and this wasn’t my decision. Parag asked me to leave after letting me know that he wants to take the team in a different direction.”

He also expressed gratitude and wished the company good days right before he congratulated the new head of consumer product at twitter, Jay Sullivan, saying “congratulations to @jaysullivan. I’m grateful the universe brought us together and that you took the leap to join the team and take on new responsibilities quickly. I know Bluebird is in great hands under your leadership.”

In other news, his promises to reverse the permanent ban on former US President Donald Trump are also put on hold until further notice. “I would reverse the permanent ban but I don’t own Twitter yet so this is not a thing that will definitely happen,” said Musk in an event earlier this week.

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Top 3 cryptocurrencies that are faring the best in the 2022 bear market

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Top 3 cryptocurrencies that are faring the best in the 2022 bear market

The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022.

Fears over persistently higher inflation, the Federal Reserve’s hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure to riskier assets. Also, their increasing appetite for the safe-havens, such as the U.S. dollar, weighed down demand for some of the top cryptocurrencies and U.S. equities.

XMR/USD weekly price chart. Source: TradingView
LEO/USD weekly price chart. Source: TradingView
BNB/USD weekly price chart. Source: TradingView

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Understanding Tether’s Peg and Reserves and How They Work

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Understanding Tether’s Peg and Reserves and How They Work

  • How to maintain Tether’s stability.
  • Tether’s reputation and transparency.
  • Financial reserves of Tether are solid, cautious, and liquid.

Given that Terra’s peg has fallen, it’s reasonable to wonder what prevents Tether (USDT) from following the same path.

USDT and Terra utilize distinct designs, mechanisms, and collateral. Terra was a computable stablecoin that wasn’t fully collateralized. It includes a variety of stability-inducing mechanisms, but they all failed in the end.

USDT is fully collateralized, with no credit risk. Each USDT can be exchanged for dollars through Tether, ensuring that when the price falls below $1, investors can acquire USDT at a discount and redeem them with Tether to make a profit.

During periods of high market volatility, the price of USDT might drop below or exceed $1. This does not imply that the peg has been broken. It indicates an increased level of liquidity than what is available on the order books of that exc …

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LTC Social Engagement Jumps 21% After MimbleWimble Activation

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LTC Social Engagement Jumps 21% After MimbleWimble Activation

  • The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.
  • This upgrade has led to a massive jump in overall Litecoin social engagement.
  • So far, Litecoin’s social engagement has increased by 21%, and even hit its highest point in the last three months.

The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.

MimbleWimble is a privacy-focused decentralized protocol that enables users to conceal transaction data with its confidentiality feature while providing a foundation for other blockchains to improve the usability of their token.

The Mimblewimble Extension Block (MWEB) hides three critical pieces of information: sender address, receiver address, and the amount of crypto sent.

With the Mimblewimble Extension Block, users can opt-in to confidential transactions. The goal of this is to enhance the visibility of Litecoin as a fungible currency that can be used for real-world transactions by lowering fees and adding privacy, throughput and scalability.

This upgrade has led to a massive jump in overall Litecoin social e …

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