DeFI News by Thebittimes.Com

Tech magnate Elon Musk once called adding NFTs to X “annoying” and a waste of engineering resources. Social media platform X has removed Features and information related to non-fungible tokens (NFTs) as part of owner Elon Musk’s 2024 vision for the private firm. Due to the change, premium subscribers can no longer upload NFTs as their profile photos.  The company’s support page has also been scrubbed of all content about NFT profile photos. X onboarded NFTs for account avatars in January 2022, when the platform was still called Twitter and managed by a board.  At the time, Twitter Blue subscribers could use NFTs as their profile photos, which appeared hexagonal. Users could upload digital collectibles minted under the ERC-721 or ERC-1155 token standards, the defacto options for creating NFTs on Ethereum’s blockchain. You might also like: X (Twitter) obtains license to trade crypto in Rhode Island The feature also provided additional information when clicked upon, inclu...

Two collaborators on the Friend.Tech platform, known as YieldBouncer and Salience, reportedly lose chat access following their involvement in an aggregator tool. Friend.Tech, a decentralized social platform built atop a layer-2 network Base, reportedly banned two accounts from using the chat feature.  The owners of these accounts, identified as YieldBouncer and Salience on X, pointed to their aggregators as the possible reason behind Friend Tech’s decision. According to Salience, the user found themselves barred from chatrooms shortly after teaming up with YieldBouncer and contributing to a Friendbook tool. YieldBouncer’s Friendbook “mirrors” otherwise private chats and allows anyone to access this content for free. You might also like: Friend.tech imposes penalties on fork users amid revenue slump At press time, Salience noted that they reached out to Friend.Tech’s team via multiple platforms. The matter remained unresolved for now.  It's a shame that the team co...

Also Read: Pro-XRP Lawyer’s Twitter Account Hacked; Beware Of Fake Rewards advertisement Meanwhile, the Dogecoin price has been on a rise since Elon Musk announced the re brand ing plans. Also, Musk’s updated Twitter location to XÐ fueled speculation that the D refers to Dogecoin. Huge Loss In Twitter Brand Value According to a Bloomberg report, brand experts believe the renaming exercise could be a mistake that could eventually affect Tesla stock as well. Todd Irwin, founder of brand agency Fazer, said the actions ‘tweeting’ and ‘retweeting’ have become part of social media culture and that new vocabulary is hard to replicate such a cultural effect. On the flip side, it is believed that the re brand ing move could likely not have much impact on the company’s bottom line any time soon, as per Gary Black, managing partner at The Future Fund. He said it eventually boils down to whether or not the company will improve ...

Twitter community note added to the tweet that Coinbase had to sue the SEC to attempt to get simple clarity over the issue that this tweet alleges the crypto company guilty of. advertisement Twitter crypto community thanks Elon Musk Crypto community thanked Twitter for rising up and labeling Gary Gensler ’s tweet as lacking important context. The lack of context in the case of Coinbase is important because the US-based crypto firm has repeatedly claimed that they asked the SEC for clear guidelines many times. The exchange is currently suing the SEC over it. Coinbase is a publicly listed company in the United States. The IPO of Coinbase was cleared by none other than the US SEC. Gary Gensler’s awkward relationship with crypto As reported earlier today, Binance’s lawyers have claimed that Gary Gensler had offered to work for Binance in 2019 as an advisor. Gensler was not the head of SEC at the time. In 2023, he has filed a lawsuit ag...

Elon Musk has announced the new Twitter CEO, former NBC Universal head of advertising Linda Yaccarino. Yaccarino “will focus primarily on business operations, while I focus on product design & new technology,” Musk says in a tweet today. Yaccarino will take over Twitter as CEO in six weeks’ time. Here’s what you need to know about the new CEO. I am excited to welcome Linda Yaccarino as the new CEO of Twitter !@LindaYacc will focus primarily on business operations, while I focus on product design & new technology. Looking forward to working with Linda to transform this platform into X, the everything app. https://t.co/TiSJtTWuky — Elon Musk (@elonmusk) May 12, 2023 About New Twitter CEO Linda Yaccarino Yaccarino previously served as the chair of global advertising and partnerships at NBCUniversal. Her LinkedIn profile labels her role as “the strategic and operational bridge across the entirety of NBCUniversal’s global networks, properties, and business units...

Logan Paul has deleted his response video aimed at Coffeezilla and has apologized in a surprise u-turn. YouTuber Logan Paul has deleted a video in which he threatened to sue internet detective Stephen "Coffeezilla" Findeisen over a three-part series that painted Paul’s CryptoZoo project as a "scam." According to Coffezilla in a Jan. 6 Twitter post, Paul has promised to drop his threats of filing a defamation lawsuit over the videos.  Logan called me. He said he’s deleting the two responses, and is dropping the lawsuit threats. I believe he’s making a 3rd response, which I’ll be delaying my video to include. Hopefully this time he takes accountability and refunds the victims of CryptoZoo. That’s what matters. https://t.co/ElKX2d9mY0 — Coffeezilla (@coffeebreak_YT) January 7, 2023 Sharing a screenshot from the CryptoZoo Discord server, Findeisen also showed a message from Paul to user confirming he deleted his initial response to Coffeezilla’s video series and ap...

Under Elon Musk’s leadership, Twitter suspended a number of accounts including those controlled by high-profile journalists and social networking platform Mastodon. Fran Finney, the wife of computer scientist Hal Finney — the recipient of the first transaction on the Bitcoin blockchain from Satoshi Nakamoto — reactivated her late husband’s Twitter account amid concerns Twitter CEO Elon Musk might purge the content from the social media platform due to inactivity. Many Crypto Twitter users reported on Dec. 16 that Finney’s account registered activity for the first time in more than 12 years. Some speculated that a hacker might have taken control of the Bitcoin (BTC) pioneer’s account and it’s more than 71,000 followers, but Fran quickly stepped in to dispel rumors. “I am tweeting for Hal [...] to avoid his account being purged by Elon,” said Fran. I want to keep Hal's account active, and occasionally will be posting from his account. When I do post, I will continue to tag myself a...

Some of the crypto community’s biggest voices are worried that Binance, the world’s largest crypto exchange, is in financial trouble. Faced with record-high withdrawal requests, influencers are debating whether the exchange will soon collapse in the same fashion as FTX.  On Tuesday, Binance faced billions of dollars in withdrawal pressure, which CEO Changpeng Zhao passed off as “business as usual” for the exchange.  “I actually think it is a good idea to “stress test withdrawals” on each CEX on a rotating basis,” he added. “It costs some network fees to run these “tests”. But keeps the industry healthy.” Other data suggests that this is a rare occurrence, however. As revealed by on-chain analyst Joe Burnett, Bitcoin withdrawals reached a rate of 2000BTC per hour on Tuesday. “Highest rate of withdraws seen all year,” he said. Largest 24h flow of $BTC out of Binance ever: -39,637 BTC pic.twitter.com/nraXyco6Ai — Dylan LeClair 🟠 (@DylanLeClair_) December...

The billionaire has been CEO for roughly 10 days, and it’s safe to say his presence has already made a difference. The Verge has now added to that, reporting that Twitter user growth hit a record high in Elon Musk’s first week running the platform. It is a topic that has certainly dominated mainstream media, as Tesla co-founder Elon Musk has taken over the largest social media platform in the world. Amidst massive layoffs, resignations, and the Twitter Blue controversy, it seems as though his influence is still a net positive. JUST IN: Twitter user growth hits record high in first week under Elon Musk. — Watcher.Guru (@WatcherGuru) November 7, 2022 Elon Musk Hasn’t Scarred off Users The Verge has reported that the Twitter Daily user growth has hit a record high following Elon Musk’s takeover. A fact that comes after controversy surrounding both the acquisition process and his first days in charge. The official report noted that since Musk...

It’s been several months following the downfall of Terra. The dramatic de-pegging of TerraClassicUSD [USTC] brought down the entire network and its investors. Amidst all of this, Do Kwon, the creator of the project decided to escape and hide his whereabouts. While several prosecutors and governments were on the lookout for Kwon, he decided to call police across the globe for a “meet up.” Kwon made a lot of commotion earlier today on Twitter . As was previously noted, Kwon has been sought after by both Interpol and South Korean authorities. The developer of Terra refuted charges of being in hiding repeatedly . Angered by the situation, he made the decision to challenge the police by organizing &ldquo ;a meetup/conference soon” and even pushed them to attend. Alright ill throw a meetup/conference soon to get over this in hiding bs Cops from world over welcome to attend — Do Kwon 🌕 (@stablekwon) November 3, 2022 The above tweet was soon ...

Tesla CEO Elon Musk shocked the entire globe with his decision to take over Twitter. While the deal initially fell apart, it managed to finally come through. This $44 billion acquisition, however, entailed the involvement of several investors across the globe. Since this purchase involved foreign governments, as well as investors, Treasury Department officials, began checking to see if they had the authority to review Musk’s Twitter takeover. JUST IN: 🇺🇸 US government is exploring whether it has legal authority to review Elon Musk 's Twitter acquisition, Washington Post reports. — Watcher.Guru (@WatcherGuru) November 2, 2022 The Washington Post reported that it was quite usual to investigate whether a review was necessary, although these preliminary investigations frequently do not result in a complete probe. It should be noted that the Treasury officials were still unsure about the level of access these large investors had. In addition to thi...