Best Twitter threads of the day – August 29th

Related articles

• Coinbase acquires stake in Circle, ushering in a new era for USDC stablecoin

  TL;DR Breakdown Coinbase has acquired an equity stake in Circle, aligning the two companies strategically and economically, with Circle taking full control over USDC issuance and governance. USDC, the second-largest stablecoin, will launch on six new blockchains between September and October, expanding its reach to 15 blockchains in total. The agreement streamlines operations and enhances Circle’s accountability as the USDC issuer, reflecting a broader trend in the crypto economy and setting the stage for the stablecoin’s future growth and adoption. Description Coinbase, one of the leading crypto exchanges, has officially acquired an equity stake in Circle, the issuer of the USDC stablecoin. The acquisition was announced in a joint press release by both companies. However, the agreement between Coinbase and Circle marks a significant shift in the governance and operations of USDC. Circle will remain the … Read more Coinbase, one of the leading crypto exchanges, has officially acquired an equity stake in Circle, the issuer of the USDC stablecoin. The acquisition was announced in a joint press release by both companies. However, the agreement between Coinbase and Circle marks…

  Article 2023年8月22日

• Terraform Labs Founder Kwon Denies Forgery and Financial Ties in Montenegro Court

  TL;DR Breakdown Do Kwon, the founder of Terraform Labs, denies forging travel documentation and denies financial ties to Milojko Spajić. Kwon claims he received allegedly forged passports through third-party agencies and blames a Chinese-named agency. He had been using a Costa Rican passport for years and trusted its authenticity. He denies making any financial donations to Spajić, the leader of the Europe Now party. Description In a recent court hearing in Montenegro, Do Kwon, the founder of Terraform Labs, denied allegations of forging travel documentation and refuted any financial connections with Milojko Spajić, the leader of the Europe Now party. The South Korean entrepreneur claimed that he was unaware of the alleged forgery of his passport and instead blamed a … Read more In a recent court hearing in Montenegro, Do Kwon, the founder of Terraform Labs, denied allegations of forging travel documentation and refuted any financial connections with Milojko Spajić, the leader of the Europe Now party. The South Korean entrepreneur claimed that he was unaware of the alleged forgery of his passport and instead blamed a Chinese-named agency…

  Article 2023年6月21日

• FTX Defended by Sequoia Partner Despite Bankruptcy, Investment Stance Upheld

  TL;DR Breakdown Sequoia Capital’s Alfred Lin reaffirms the firm’s investment in the bankrupt FTX crypto exchange, stating they would make the same decision again if given the opportunity. Despite suffering a financial loss, Sequoia maintains its enthusiasm for the crypto sector, emphasizing the importance of taking calculated risks and trusting visionary founders. Description Venture capitalist Alfred Lin, a partner at Sequoia Capital, recently defended the firm’s significant investment in the now-bankrupt cryptocurrency exchange FTX. Despite the exchange’s collapse and subsequent loss of funds, Lin expressed confidence in the decision, stating that if given the opportunity, Sequoia would likely make the same investment again. This reaffirms Sequoia’s commitment to … Read more Venture capitalist Alfred Lin, a partner at Sequoia Capital, recently defended the firm’s significant investment in the now-bankrupt cryptocurrency exchange FTX. Despite the exchange’s collapse and subsequent loss of funds, Lin expressed confidence in the decision, stating that if given the opportunity, Sequoia would likely make the same investment again. This reaffirms Sequoia’s commitment to trusting founders and taking calculated risks, even in the volatile world of cryptocurrencies.  However,…

  Article 2023年6月26日

• Crypto firm Robinhood slashes 7% staff amidst market turmoil

  TL;DR Breakdown Robinhood, a popular brokerage firm for cryptocurrencies and equities, has reportedly laid off approximately 7% of its workforce. It was revealed that around 150 employees were let go in order to adjust to market conditions and realign team structures. Robinhood is not the only company feeling the effects of a less active crypto market. Lower trading volumes across the industry have resulted in reduced profits for companies involved in facilitating crypto trades. Description Robinhood, a popular brokerage firm for cryptocurrencies and equities, has reportedly laid off approximately 7% of its workforce, according to a report by The Wall Street Journal. The layoffs come as the company faces challenges due to declining trading activity and a less enthusiastic user base compared to the frenzied days of the meme stock … Read more Robinhood, a popular brokerage firm for cryptocurrencies and equities, has reportedly laid off approximately 7% of its workforce, according to a report by The Wall Street Journal. The layoffs come as the company faces challenges due to declining trading activity and a less enthusiastic user base compared…

  Article 2023年6月29日

• ETF assets in Australia soar, breach $100 billion

  TL;DR Breakdown  Australian ETF industry hits record high, reaching A$150b ($102b) in H1 2023. Growth rate surpasses Betashares’ forecasts; the provider predicts these assets could hit A$160b by year end. About 70% of the industry’s growth was due to market appreciation; new money in H1 2023 totaled A$4.8b, slightly lower than H1 2022. Description A surge in the asset values of exchange-traded funds (ETFs) in Australia has taken the industry to new heights, breaching the $100 billion mark in the first half of this year. Defying earlier predictions and setting an all-time record, the ETF industry in the country has exhibited an explosive growth pace, dwarfing other local fund … Read more A surge in the asset values of exchange-traded funds (ETFs) in Australia has taken the industry to new heights, breaching the $100 billion mark in the first half of this year. Defying earlier predictions and setting an all-time record, the ETF industry in the country has exhibited an explosive growth pace, dwarfing other local fund products that have been battling substantial outflows. Accelerated growth amid market uncertainties Betashares,…

  Article 2023年7月24日