The biggest news in the cryptoverse for Oct. 4 includes Elon Musk making a new offer for Twitter, Celsius planning to auction assets, Justin Sun offering to buy Credit Suisse’s assets, and Charles Hoskinson calling for an end to Bitcoin mining.
CryptoSlate Top Stories
DOGE up 8% as Elon Musk makes new acquisition offer for Twitter
Elon Musk is back on the deals table as he offers to buy up Twitter for $44 billion at $54.20 per share.
Following the news, DOGE spiked 8% to reach a high of $0.066. Elon Musk had earlier hinted at the possibility of using Dogecoin to pay for Twitter Blue.
Crypto giants criticize Twitter on scam, bot accounts impersonating them
Twitter bots are making the social media platform unconducive for many crypto giants, and the crypto community as a whole.
Ripple’s CEO Brad Garlinghouse, Binance CEO Changpeng Zhao, Cardano’s founder Charles Hoskinson, and Ethereum cofounder VItalik Buterin have all called on the social media platform to address the menace.
Buterin said that turning Twitter into an open API will see third parties come on board to help resolve the issue.
Cardano founder Charles Hoskinson calls for an end to Bitcoin mining
With the increasing utility of wrapped Bitcoin (wBTC) on smart contract platforms, Cardano’s founder has called for an end to Bitcoin mining.
Charles Hoskinson explained that Bitcoin mining may not be a good investment of energy as there is a lot more BTC in circulation that those left to mine.
Hoskinson added that since the Bitcoin blockchain is not optimized for other use cases, existing BTC should be converted into wBTC so they can be utilized across decentralized finance Dapps.
Justin Sun pulls an FTX and offers to buy ailing Credit Suisse’s assets
Global bank Credit Suisse is currently at the risk of a fatal collapse as its stock price has declined by over 60% (year-to-date).
Tron founder Justin Sun has hinted at possibilities of buying up assets of the struggling Credit Suisse and bringing them into Web3.
Bankrupt crypto lender Celsius to auction assets on Oct. 20
In a recent court filing, Celsius Network expressed intentions to auction off its assets to interested bidders. The auction is scheduled for Oct. 20 and may attract potential bidders like FTX and Goldman Sachs.
Many Celsius creditors including Simon Dixon object to the auction plan, saying that the firm needs a re-organization, not a sale.
Coinbase documentary “COIN” to debut Oct. 7
Coinbase is set to release the ‘COIN” on Oct. 7….
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