This Week in Crypto Twitter: Musk Welcomes Twitter’s New CEO to Come to X: The whole lot App

This Week in Crypto Twitter

Illustration by Mitchell Preffer for Decrypt

The largest tweet on Crypto Twitter this week was an announcement Friday from Twitter proprietor and CEO Elon Musk naming his substitute, Linda Yaccarinoas the brand new CEO of the platform.

Musk will proceed to serve Twitter as CTO and CEO.

Yaccarino left her job as head of publicity at NBCUniversal on friday morning to tackle the job of serving to Musk transition Twitter to X, his envisioned “all the things app” that may incorporate social media and funds (probably together with crypto) alongside the strains of China wechat.

Musk can be pro-crypto. His electrical automobile firm Tesla is presently one of many largest Institutional Bitcoin HODLers, even after offered three quarters of their unique possessions. He’s a fan of Dogecoin, and his frequent tweets about it typically drive the value up. He even changed Twitter’s blue chook brand with the Doge meme to a number of daysso a potential cryptographic integration is conceivable, particularly as a fee choice.

Elsewhere on Crypto Twitter this week, Coinbase CEO Brian Armstrong started by praising the United Arab Emirates for its “clear rule guide” in terms of crypto laws.

Coinbase is a publicly traded US firm, however the hostile home regulatory setting is driving it overseas. The corporate not too long ago obtained a license to function in Bermuda and used it to open a worldwide alternate providing Bitcoin and Ethereum perpetual futures. He’s additionally presently talking with the Monetary Providers Regulatory Authority (FRSA), a regulator of the Abu Dhabi International Market (ADGM), a crypto-free financial zone within the UAE, about opening a regulated alternate there.

Circle’s director of EU coverage and technique, Patrick Hansen, shared a graphic on Tuesday exhibiting how MiCA is stealing the wind from American sails. European Union lawmakers final month MiCA authorised, or the Markets in Crypto Belongings invoice, which now means the bloc has a unified regulatory method throughout its 27 member states and licenses granted to crypto corporations in a single nation could be “handed over” to a different member state. the principles about stablecoins it would enter into pressure in July 2024, whereas different necessities won’t apply till January 2025.

On Tuesday, US President Joe Biden took a place towards “MAGA Home Republicans” aligned with “wealthy crypto traders” searching for loopholes to keep away from paying taxes. POTUS’s tweet was later flagged by reality checkers who added the context that every one crypto earnings are topic to capital beneficial properties tax.

Additionally that day, a video shared by MicroStrategy president and Bitcoin institutional whale Michael Sadler made the rounds. Saylor, an enthusiastic and predictable Bitcoin acolyte, says that the value of Bitcoin “will work its method up, with volatility, ceaselessly.”

Bitcoin mining income ranges are actually the place they had been a yr in the past, based on a chart shared by Will Clemente, co-founder of impartial digital asset analysis agency Reflexivity Analysis.

Stablecoin issuer Tether’s income is properly over $1 billion, based on its Q1 2023 attestation. This implies it comfortably outperforms Blackrock, the world’s largest asset supervisor. At its peak, Blackrock grew to become the primary asset supervisor to handle $10 billion in property in This fall 2022, however this has fallen to $8.59 trillion as of This fall 2023.

One other day, one other crypto scammer dropped at gentle by blockchain detective ZachXBT.

Impartial Ethereum educator Anthony Sassano referred to as Ethereum’s participation “solely” on Wednesday.

Retired ExxonMobil government Tom Glass, who’s presently searching for the Republican nomination for state Home District 17, broke the information that Texas lawmakers voted overwhelmingly in favor of an replace to the state’s Invoice of Rights to incorporate the fitting of people to personal, maintain, and use digital currencies.

Lastly, on Thursday, Web3 authorized skilled MetaLawMan wrote a thread explaining how essential the information is that the US Chamber of Commerce. filed an amicus curiae transient in help of Coinbase in progress court docket petition get the securities regulator to make clear its guidelines.

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