The Japanese messaging giant Line has decided to shut down its cryptocurrency exchange business amid the ongoing crypto winter. Line-owned crypto exchange Bitfront officially announced on Nov. 27 a plan to completely close down the platform by March 2023. According to the statement, the closure was driven by the continued cryptocurrency bear market and other issues in the crypto industry. Despite the exchange’s closure, Line will still continue to run its other blockchain ventures, including the Line blockchain ecosystem and Link (LN) token, the announcement notes, stating: “Despite our efforts to overcome the challenges in this rapidly-evolving industry, we have …

Billionaire entrepreneur Elon Musk has confirmed that he intends on integrating payments into what he describes as Twitter 2.0 — “The Everything App” — fuelling a short-lived 19.4% price surge for meme-inspired cryptocurrency Dogecoin (DOGE). The new Twitter CEO revealed his plans in a Nov. 27 tweet to his 119.2 million followers, in which he shared several slides from a recent “Twitter company talk.” Slides from my Twitter company talk pic.twitter.com/8LLXrwylta — Elon Musk (@elonmusk) November 27, 2022 While Musk made no mention of DOGE in the tweet or in the attached slides, this didn’t appear to stop some investors …

Many of the centralized cryptocurrency platforms that collapsed this year had something in common: a young, outspoken and cocky leader. Each gained outsized influence not by virtue of outsized intellect or talent but because of their piles of money and large Twitter followings. And each time, misplaced trust in their abilities resulted in disastrous consequences. If crypto wants to avoid similar catastrophes in the future, it’s time for us to rearrange our leadership priorities. We need to ditch the cults of personality. The theater of crypto on Twitter Before FTX collapsed, founder Sam Bankman-Fried (SBF) had garnered a reputation as …

On-chain sleuth ZachXBT has shared his findings on what he sees as the three most common misconceptions about the FTX hack — taking to Twitter to correct a "ton of misinformation" about the event and the possible culprits. In a lengthy Nov. 20 post on Twitter, the self-proclaimed “on-chain sleuth” debunked speculation that Bahamian officials were behind the FTX hack, that exchanges knew the hacker's true identity, and that the culprit is trading memecoins. 1/ I have seen a ton of misinformation being spread on Twitter and in the news about the FTX event so let me debunk the three …

Elon Musk has been shaking the Twitter tree since he took over the micro-blogging platform in late October. His latest move has resulted in an exodus of employees and office closures. Earlier this week, Musk issued an emailed ultimatum to Twitter staff saying that they need to commit to “working long hours at high intensity,” or clear their desks by Thursday, Nov. 17. A large number of them have taken the second option which is understood to include three months’ severance pay, resulting in the company temporarily closing its offices as hundreds of employees have walked out, according to reports. …

While information leaks and unconfirmed reports can be a way for the truth to reach the public, they can also be a tool that fans the flames to grow even further in an already burnt-out crypto market. In a recent article, Reuters claimed that FTX used some of its customer deposits to support Alameda Research from its financial difficulties. Apart from this, the mainstream media outlet also described Binance pulling out of the FTX acquisition as a “failed bid to save crypto.” Apart from this, a message from FTX CEO Sam Bankman-Fried (SBF) was also leaked to crypto podcaster Cobie …

Like many people, I was originally dubious of Elon Musk’s takeover of Twitter given his historic tendency to make bold promises but later back away. That said, there is merit to his idea of adding a subscription layer to Twitter and using it to both improve curation and diversify away from advertising. If you believe in the core values of crypto, you should believe in it. To see why, we need to revisit the basics of Bitcoin (BTC). Most people focus their attention on the coin, but the more remarkable thing about Satoshi Nakamoto’s invention was the design of the …

The emergence of Web3 technologies has brought Web2-based companies to consider amendments to their current products and services. Many leading brands are using Web3 technologies such as nonfungible tokens (NFTs) to promote their brand as well as show their affiliation with emerging tech. Social media is another domain where Web3 seems to have the biggest impact. Facebook rebranded to Meta and has shifted its whole focus from being a social media platform to becoming the future gateway of the metaverse. Meta-owned Instagram announced it would add NFT minting and trading services within the app. Reddit, another prominent social media platform, …

Over several years, social media influencers have earned a bad rep among regulators for shilling risky and unvetted tokens to millions of investors. Pursuing the crackdown on such scenarios, the U.S. Securities and Exchange Commission (SEC) reportedly issued a subpoena to influencers who were found promoting cryptocurrencies such as HEX, PulseChain and PulseX. Swedish researcher Eric Wall shared an official letter from the SEC dated Nov. 1, which was addressed to influencers. It read: “We believe that you may possess documents and data that are relevant to an ongoing investigation being conducted by the staff of the United States Securities …

The acquisition of Twitter by billionaire Elon Musk got mixed reactions from crypto and global communities, sparking discussions around changes to censorship, account verification and the launch of new crypto and blockchain-centric features. However, Binance CEO Changpeng “CZ” Zhao’s decision to invest $500 million in the social media site took the limelight. Acknowledging the buzz, CZ shared six reasons why he opted to support Twitter and what it may mean for the future of Twitter. Ever since Twitter’s new sink was in, I was asked about it in every interview. And I had many interviews last week. So, here is …

Binance CEO Changpeng “CZ” Zhao has explained the reasoning behind its $500 million co-investment into Elon Musk’s Twitter, citing monetization potential, crypto community free speech, and the opportunity to eventually “help bring Twitter into Web3.” CZ’s comments came from an Oct. 31 CNBC Squawk Box segment, where he explained what drove his co-investment with Elon Musk to acquire the social media platform noting: "I believe Twitter has not been monetized well, it has not grown well, there's many tactical problems like bots that spam my comments, there's scammer accounts on there, it's not been run well." “But I think the …

Huobi Global says it has no plans to conduct “large-scale layoffs” and has refuted reports that two of its top executives have resigned amid a takeover of the Seychelles-based crypto exchange. Reports that the company’s chief executive officer (CEO) Leon Li and chief financial officer (CFO) Chris Lee have resigned appeared to have originated from an Oct. 29 Twitter post from Chinese crypto blogger Colin Wu, citing “people familiar” with Huobi. The Twitter post also suggested there could be mass layoffs planned for its 1,600 employees due to “too many people" working at the company. However, a spokesperson from Huobi …