Elon Musk, known for his fascination with the letter X, has made the bold decision to rebrand Twitter as X. This move is part of Musk’s plan to transform the $44 billion acquisition into a platform that truly reflects his vision. Musk envisions X to be similar to China’s WeChat, a multifunctional super app that
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Shares of Digital World Acquisition Corp. (DWAC), the special purpose acquisition company (SPAC) seeking to take former President Donald Trump’s social media platform public, surged by over 50% on Friday. This significant increase came after the company announced that it had settled fraud charges with the Securities and Exchange Commission (SEC) for a sum of
A lawsuit filed in Delaware bankruptcy court has revealed that Gabe Bankman-Fried, the younger brother of Sam Bankman-Fried and a former top lobbyist for the failed crypto exchange FTX, had contemplated acquiring the island nation of Nauru in the Pacific. His intention was to establish a fortified bunker-state to safeguard his philanthropic allies and create
Apple’s stock experienced a brief surge on Wednesday following a report by Bloomberg News indicating that the company is currently working on its own internal artificial intelligence (AI) large language model. The stock saw an increase of approximately 1% during midday trading. This move by Apple suggests that it is taking recent advancements in AI
Former employees of Twitter in Ghana, who were terminated in November, find themselves in a challenging situation as they have not received severance pay and have had no communication from the company for the past three months. Sources familiar with the matter informed CNBC about the ordeal faced by these employees. Elon Musk, the new
Elon Musk, the CEO of Tesla and SpaceX, as well as the CTO and executive chairman of Twitter, recently addressed the negative cash flow situation at the social media company. Musk revealed that Twitter has experienced a nearly 50% drop in advertising revenue, which has contributed to their financial difficulties. He emphasized the need to
New York City’s iconic yellow taxis have long been a symbol of the bustling metropolis. However, the taxi industry has seen a significant decline in recent years, with taxi drivers now making up only about 10% of the total driver landscape in the city. The rise of ride-sharing services like Uber and Lyft has played
Crypto exchange Binance is reportedly planning to lay off a significant number of employees in response to an ongoing probe by the United States Department of Justice (DOJ). The investigation is expected to conclude with a consent decree or settlement, according to an anonymous insider familiar with the company’s plans. The job cuts are set
Altcoins experienced a successful week following a court ruling that sparked a significant rally in the crypto market. In contrast, bitcoin continued its downward trend for the third consecutive week. According to Coin Metrics, bitcoin closed the week with a 0.28% decrease, settling at $30,126.40. It is worth noting that cryptocurrencies trade around the clock.
Former CEO of Celsius, Alex Mashinsky, was taken into custody on Thursday on federal securities fraud charges, according to a source familiar with the matter. This arrest comes as the bankrupt cryptocurrency exchange has reached a settlement agreement with government regulators, agreeing to pay a record-breaking $4.7 billion fine. Alongside the arrest, the exchange has