Welcome to Clutch’s weekly Pocket News. This week in Crypto News, Elon Musk takes over Twitter, Tweet Tiles are coming in hot, and Do Kwon’s Singaporean mailbox is racking up lawsuits. In Clutch News, our Art Basel getaway entrance ends tomorrow, so lock in that entry and surprise your bestie! In community updates, BFF founder Jamie Schmidt is speaking at NFT Fest in Australia and all the important dates for our getaway are listed below!
A non-custodial social wallet offering users an all-encompassing transacting experience underpinned by social, media, education, and seamless web3 integration.
Twitter just took on a new “Chief Twit”. The Tesla CEO promptly fired Twitter execs, including the CEO, and the entire Twitter board, making himself the sole director. Musk says he will continue to clean house. This takeover comes after a legal fight ensued between Twitter and Musk after Musk retracted his bid for Twitter. With his new role, Musk hopes to decrease moderation and encourage free speech. Dogecoin(DOGE) has jumped 119% since last Wednesday with the news of Elon pulling the trigger on the Twitter deal.
Twitter will allow users to buy, sell, and show NFTs through tweets. The integration is still being tested, but currently works with Magic Eden, Rarible, Dapper Labs, and Jump.trade. Twitter has historically supported Ethereum-based NFT profile pictures, but a Twitter representative said all networks are supported in this feature as long as they’re linked to a partnered marketplace.
Terraform Labs co-founder Do Kwon is the target of a class-action lawsuit filed on behalf of 350 investors. The claimants are seeking compensation for roughly $57 million worth of “loss and damage” combined and request an order to pay for “aggravated damages.” A spokesperson for Terraform Labs said, “The risks were publicly known and discussed, and the underlying code was open-sourced.” Kwon’s whereabouts are unknown despite his frequent activity on social media.
Binance CEO Changpeng “CZ” Zhao invested half a billion into Elon Musk’s Twitter takeover according to Bloomberg. CZ said “We aim to play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology.” He also said that the investment was a support of free speech.
The NFT Fest will be held in Australia from November 23rd to 24th.