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Crypto News, April 11: Twitter Drama and Bitcoin Action

5 months ago

Elon Musk's acquisition of Twitter saw another turn for the dramatic, while Do Kwon's continuous BTC accumulation could not keep the price up.

Crypto News, April 11: Twitter Drama and Bitcoin Action

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Elon Musk Rejects Twitter Board Seat

Elon Musk bought a 9.2% stake in Twitter and got us curious. But now, he rejected what seemed to be an assured seat on Twitter’s board and really got our attention. Twitter CEO Parag Agrawal announced that Elon would not be joining the board—opening the door for a potential hostile takeover of Twitter if Musk chooses to do so. Conservative commentators on the platform anticipate that as Musk's next move, but the enigmatic Tesla CEO has so far remained ambiguous about his plans for Twitter.

Luna Foundation Continues to Accumulate Bitcoin

The Luna Foundation and its CEO Do Kwon continued their path to acquiring $10 billion worth of bitcoin — and now hold almost 40,000 BTC. The company's wallet is ranked 19th among all BTC wallets, as the Luna Foundation looks to strengthen its LUNA-UST ecosystem with a significant amount of bitcoin in the treasury. Will the strategy pay off in increasingly challenging market conditions?

The Bitcoin Conference 2022 in Miami Ends—And With It, Bitcoin's Uptrend

The Bitcoin Conference in Miami ended, and so did Bitcoin's price rally. Even though conference participants saw it as a "sell the news" event, Bitcoin looks to be weighed down by macroeconomic indicators that point to a recession. With inflation continuing to shoot higher, bond prices are hitting multi-year highs, and crypto is suffering. The next big milestone: Wednesday's new inflation estimates from the FOMC will be indicative of where BTC is headed.
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