Headlines
▌Elon Musk Buys Twitter for US$44 Billion and fires top executives, including Twitter CEO Parag Agrawal
Thursday evening, Twitter and Musk formally closed on the billionaire's offer to take the company private by paying $54.20 per share, equal to about $44 billion, sources close to the deal told Insider.
The same evening, Musk also ousted CEOParag Agrawal, CFO Ned Segal, the sources said. Chief legal officer Vijaya Gadde is out, too.
Musk has been at Twitter's San Francisco headquarters this week, meeting with workers andholding impromptu discussionswith them in the cafe, Insider reported.
▌Crypto Exchange Huobi Delists Its HUSD Stablecoin
Huobi Global willdelistthe U.S. dollar-pegged stablecoin HUSD on Oct. 28 and convert users' assets to Tether (USDT).
"As part of our continuous efforts to promote the healthy development of the blockchain ecosystem, Huobi Global will be ceasing the HUSD trading service and delisting HUSD in compliance with Article 11 of Huobi Global Token Management Rules," the exchange said.
Huobi said the delisting will start at 8:00 UTC on Oct. 28. At that time it will cease HUSD deposits and withdrawals and cancel any open orders related to the stablecoin. Meanwhile, the exchange will convert users' HUSD to USDT at a 1:1 ratio, it said, noting that it plans to complete this conversion before Nov. 4.
▌Google Cloud launches managed blockchain Ethereum nodes
Today Google Cloud unveiled its Blockchain Node Engine, a managed hosting service starting with Ethereum.Microsoft’s Azure was the first to offer such a service, with AWS launching its version in 2019.
The Cloud group recently said it would accept payment from some web3 firms in cryptocurrency through a deal with Coinbase and set up a dedicated digital assets team in January.
The Cloud group recently said it would accept payment from some web3 firms in cryptocurrency through a deal with Coinbase and set up a dedicated digital assets team in January.
Cryptocurrency
▌Pantera Capital's early-stage token fund is down 71% this year
Crypto investment firm Pantera Capital’s early-stage token fund is down 71% year-to-date as of September, according to an investor presentation obtained by The Block. The fund, which invests in tokens with liquidity horizons between one to three years, has still returned 372% since inception, according to the document. Investment firm Pantera Capital's early-stage token fund has lost nearly three-quarters of its value this year amid a bloodbath in crypto markets.
▌Digital Bank Revolut to Allow Customers to Make Purchases With Crypto Balances
Digital banking firm Revolut is adding a crypto spending feature that will enable customers to use their crypto balance to pay for everyday purchases using their Revolut card.
The service will be available starting on Nov. 1, and for a limited time, customers will also be able to earn 1% cash back on all their crypto balance spent, according to a company notice.
Revolut's new feature comes after the U.K.-based firmwon registration from that country's Financial Conduct Authorityto offer crypto services in the U.K. following a lengthy wait to gain approval.
Economic Development
▌Amazon stock crashed up to 20% within hours after missing Q3 targets and also estimated lower earning in Q4 in compare to previous estimate.
Amazon (AMZN) shares tanked nearly 20% in after-hours trading on Thursdayafter it reported misses on revenueand sales for its Amazon Web Services cloud business, along with disappointing fourth-quarter guidance.