Morning Post - October 28

headlines

▌Sources: Musk completes the acquisition of Twitter for about $44 billion

On October 28, sources said that on Thursday evening local time, Tesla CEO Elon Musk had officially completed the acquisition of Twitter at a price of US$54.2 per share (approximately US$44 billion). , Musk also ousted Twitter CEO Parag Agrawal and Chief Financial Officer Ned Segal. Musk has been at Twitter's San Francisco headquarters this week, meeting with employees and having impromptu discussions with them at a coffee shop. A plenary meeting is expected to be held on Friday. Representatives for Twitter and Musk did not immediately respond to requests for comment.

▌Cryptocurrency exchange Huobi will delist the HUSD stablecoin

Jinse Finance reported that Huobi Global will delist the US dollar-linked stablecoin HUSD on October 28, and convert users' assets into Tether (USDT). The exchange stated that as part of our continuous efforts to promote the healthy development of the blockchain ecosystem, Huobi Global will stop HUSD trading services and delist HUSD in accordance with Article 11 of the Huobi Global Token Management Rules. The delisting will begin on October 28 at 8:00 UTC. At that time, it will stop deposits and withdrawals of HUSD and cancel any open orders related to the stablecoin. At the same time, the exchange will convert users’ HUSD to USDT at a ratio of 1:1, which it plans to complete by November 4.

▌Google Cloud Launches Managed Blockchain Ethereum Node

Jinse Finance reported that Google Cloud announced its blockchain node engine, which is a hosting service starting from Ethereum. Microsoft's Azure was the first to offer such a service, with AWS launching its version in 2019. Google Cloud Computing Group recently said it would accept cryptocurrency payments from some Web3 companies through a deal with Coinbase, and in January it launched a dedicated digital assets team. Regarding the node vendors in this space, besides the big names like AWS and Azure, there are several web3 vendors that dominate the field. They include Alchemy, Blockdaemon, Chainstack, Coinbase Cloud, ConsenSys’ Infura, and Quicknode.

cryptocurrency

▌ Pantera Capital’s early-stage token fund is down 71% this year

Jinse Finance reported that as of September this year, the early token fund of cryptocurrency investment company Pantera Capital fell by 71%. The fund, which invests in tokens with a liquidity period between one and three years, has still returned 372 percent since inception, according to the filing. Investment firm Pantera Capital's early-stage token fund has lost nearly three-quarters of its value this year as the cryptocurrency market tumbled.

▌Digital bank Revolut will allow customers to make purchases with cryptocurrency balances

Jinse Finance reported that digital banking company Revolut is adding a cryptocurrency consumption function, enabling customers to use their cryptocurrency balance to pay for daily consumption using Revolut cards. According to the company’s notice, the service will be available starting Nov. 1, and for a limited time, customers will also be able to earn 1% cashback on all their cryptocurrency balances. New to Revolut is pending approval to obtain registration from the country's Financial Conduct Authority to offer cryptocurrency services in the UK. According to its website, the platform offers in-app transactions in more than 30 digital currencies to its more than 20 million individual users.

economic development

▌Amazon stock plunged as much as 20% in the hours after it missed its third-quarter target, and fourth-quarter earnings were also forecast to fall.

Shares of Amazon (AMZN ) tumbled nearly 20% in after-hours trading on Thursday after it reported poor revenue and sales results from its Amazon Web Services cloud business, which likely continued to decline in the fourth quarter.