Elon Musk Backs Out of Twitter Purchase Agreement
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Today’s Crypto Fear and Greed index
Elon Musk Backs Out of Twitter Purchase Agreement
Elon Musk, CEO of Tesla and SpaceX, has withdrawn his $44 billion bid for Twitter, according to a filing with the Securities and Exchange Commission.
Musk's legal team wrote to Twitter's general counsel in June, claiming that the company was not meeting his data demands. His team claimed it was a "clear legal breach" of the agreement's terms, and Musk may seek to exit the deal.
Twitter's stock closed the day down 5% at just under $37 on July 8th, but has since dropped further in after-hours trading to around $34 per share.
Tether has announced Liquidating a Bitcoin loan made to cryptocurrency lender Celsius.
Celsius had obtained an overcollaterized loan from Tether in Bitcoin.
Although the stablecoin issuer did not provide the loan's exact cash amount, it did claim that it was able to settle with the troubled crypto lender without suffering any damages.
This process was carried out in order to have as little impact on the markets as possible, and once the loan was paid off, Tether returned the remaining portion to Celsius in accordance with their agreement.
Last week, $450 million was invested in crypto companies. Here's who received the funds:
H2O Securities raised $150 million to tokenize water financing through their H2ON Token. The goal is to address the issue of water scarcity.
KoinX received $xM to simplify cryptocurrency taxes. Their catchphrase? Calculate your cryptocurrency taxes faster than your grocery delivery service.
Magic Square received $3 million to create a community-driven app store.
Rubix was awarded $100 million to create an eco-friendly blockchain.
NFT Brands was awarded $2.5 million to provide end-to-end NFT development for brands and creators.
A New NFT Marketplace Is Being Introduced By REDDIT
REDDIT is launching a new marketplace where you can buy NFT profile pictures (and use them on Reddit) for a set price.
The nice part about this is that you won't need any cryptocurrency to purchase them. You can pay with a credit or debit card.
Limited-edition NFTs come with some licensing rights, which aren't as extensive as, say, BAYC, but are still interesting. They've teamed up with Polygon to produce the NFTs.
Reddit has 400 million active monthly users. That's a lot of eyeballs on NFTs. This could lead to increased adoption!
The NFTs are currently only available by invitation to members of the r/CollectibleAvatars subreddit, but Reddit plans to make them public in the coming weeks.
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