Market
Investments
Twitter board asks shareholders to approve Elon Musk’s $44 billion bid
Musk's offer for Twitter would earn each shareholder $54.20, which is ahead of the current value of the shares at $38.
Exchanges
Crypto companies pull out of sponsorship deals amid market downturn
Several crypto companies have been forced to choose self-preservation over advertising, as the crypto market cap crashes to new lows.
DeFi
Solend introduces $50M borrow limit as whale account begins debt repayment
Solend has introduced a new proposal to limit the borrowing on the platform to $50 million per account.
Analysis
Bitcoin investors see record realized loss of $7B amid downturn
Glassnode report highlighted that some long-term investors sold their Bitcoin holdings at a loss after buying the asset when it was trading for $69k
NFTs
Yuga Labs hires Christie’s NFT head to lead CryptoPunks
CryptoPunks NFTs are bucking the bear market as the floor price of the collection has risen by over 40% in the last seven days.
Exchanges
FTX CEO blames Fed Reserve for bear market, will step in to prevent ‘contagion’
SBF said the current downturn is a direct consequences of the Fed's decision to hike interest rates by such a high margin.
DeFi
Solend backtracks on ’emergency power’ proposal following community backlash
Solend says the recent price recovery of SOL has given them some time to get more feedback and also seek new alternatives.
DeFi
MakerDAO votes to disable Aave DAI deposit to stave off Celsius risks
MakerDAO’s decision is tied to the fact that half of DAI borrowed on Aave was from Celsius, which is currently facing liquidity issues.
Regulation
SEC commissioner Hester Pierce criticizes agency’s resistance to Bitcoin spot ETP
Hester Pierce mentioned that Spot ETPs have launched in countries like Canada, and in Europe, generating great investor interest despite the volatile nature of the market.
Culture
New York Times report says Kraken’s CEO began culture war
Kraken CEO released a 31-page document that outlines the "libertarian philosophical values" of the company, telling those who disagree to quit the company.
Rumors
More troubles for Three Arrow Capital as 8Blocks accuses it of $1M misappropriation
8Blocks want firms still holding Three Arrows assets to freeze them so that their debtors can be paid back after legal proceedings.
Exchanges
Kraken CEO lashes out against some employees for being ‘bad fit’
Jesse Powell said that the actions of some employees is negatively impacting the productivity of others because their focus has shifted from the company’s culture.