Social media giant Twitter has a new CEO, Linda Yaccarino. The company owner Elon Musk says the new head will be helping him to transition the platform into an ‘everything app.’ What that means is Twitter would no longer be an ordinary social media platform. Instead, it will also facilitate payments, including crypto.
Musk is known to be a crypto enthusiast. His car manufacturing firm Tesla is among the biggest institutional holders of Bitcoin today despite selling about three-quarters of its holdings last July. The billionaire entrepreneur is a huge supporter of Dogecoin too. He recently updated the meme coin as Twitter’s logo causing its price to surge massively. Musk has previously hinted at adding DOGE as a payment option.
Elsewhere, Coinbase boss Brian Armstrong took to Twitter on Monday to praise the UAE for having a clear crypto rule book. The tweet came after he visited Dubai the previous weekend. Coinbase is a US-based crypto exchange, but the uncertain regulatory environment in that country is driving the company offshore. It moved to court a few weeks ago in an attempt to force the Securities and Exchange Commission (SEC) to clarify crypto regulations.
Coinbase recently secured a license to set up shop in Bermuda, where it opened an international trading platform for Ethereum and Bitcoin perpetual futures. On top of that, the company is in talks with Abu Dhabi’s Financial Service Regulatory Authority (FRSA) about opening an exchange in that city.
On Tuesday, Circle’s strategy and policy head Patrick Hansen shared data that indicated European Union could soon become the World’s crypto hub. As per the data, venture capital investment has increased by over 30% since the EU lawmakers approved the Market in Crypto Assets (MiCA) bill last month. MiCA is a unified crypto regulatory framework that will be adopted by the EU’s 27 member countries. That means when a crypto firm obtains a license in one of the nations, it automatically qualifies to operate in other member states.
Hansen asked the United States government to follow the EU’s steps as it is evident that regulatory clarity attracts capital.
US President Vs. Wealthy Crypto Investors
On Wednesday, US President Joe Biden tweeted that his government is targeting wealthy crypto investors that evade paying taxes. Biden is looking to collect about $18 billion from them annually. His tweet, however, did not sit well with some crypto players. Dogecoin co-creator Billy Markus replied that he had given the government more money than he had made from his crypto endeavors. Async Art community manager Peter Conradi asked the President to back off and allow technological innovations like other countries.
That day, Michael Saylor, the Chair of the largest institutional Bitcoin holder MicroStrategy, shared a video of him talking about the factors that will push BTC to reach new highs. He said the increasing development activity on Bitcoin, like the Ordinals and BRC-20 token standard experiment, will likely cause the BTC price to surge in the coming months.
Still on Bitcoin, the founder of crypto research company Reflexity Research, Will Clemente, reported that the daily mining revenue is at the same level it was a year ago. Bitcoin miners now collectively generate about $40 million a day.
Tether’s First Quarter Revenue Crosses a Billion
On Thursday, USDT’s issuer, Tether, shared its revenue for the first quarter of 2023. As per the data, the company posted $1.48 billion in net income, outpacing asset manager Blackrock which saw $1.16 billion in revenue.
On that day, ZachXBT, a blockchain observer, revealed how an influencer with the Twitter username DannyCrypt was secretly dumping on his followers. According to ZachXBT, the influencer received 2% of the HOLDR circulating supply to market the token and then dumped it after 15 minutes but continued to tweet that he was still holding the crypto asset. On-chain data shows DannyCrypt pocketed 31 ETH worth $57,000 as of this writing.
SureTradeGroup.com is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site is paid content that is not written or posted by our writers or editors and the opinions expressed do not reflect the opinions of this website. Any disagreement you may have with brands or companies mentioned in articles will need to be taken care of directly with those specific brands and companies. The responsibility of anyone who may click links in our articles and ultimately sign up for that product or service is their own. Forex, Stocks, Cryptocurrencies, NFTs and Dogital Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.