Social media platform Twitter is reportedly looking to file a lawsuit as early as this week against Telsa CEO Elon Musk after he announced his intention to pull out of the $44 billion deal to acquire the social media giant on Friday. Bloomberg reported on Sunday that the company has hired corporate law firm Wachtell, Lipton, Rosen & Katz and will bring the case to the Delaware Court of Chancery, a non-jury trial court that deals with corporate law in the state of Delaware. However, it’s unclear whether the potential lawsuit will eventually end up with Musk purchasing the platform, …

In an unexpected turn of events, Tesla CEO Elon Musk announced his intention to end the $44 billion Twitter deal via a letter sent to the board of the social media giant. In short, one of the world’s richest man is not happy with the lack of information Twitter provided about spam and fake accounts. According to the letter, which is addressed to Twitter’s chief legal officer Vijaya Gadde, Musk is terminating the merger because Twitter “appears to have made false and misleading representations,” which Musk used as a reference point for his decision. Elon Musk initially agreed to purchase …

The British Army’s official Twitter, Facebook and YouTube accounts were breached on Sunday for almost four hours, with scammers promoting rip-off nonfungible token (NFT) collections and cryptocurrency scams. Just after 2:00 pm EST on Sunday, the United Kingdom Ministry of Defence (MOD) Press Office tweeted it was aware the Army’s social media accounts were compromised and had begun an investigation. Nearly four hours later, close to 5:45 pm EST, the Office provided an update that the account breaches were resolved. The British Army's official Twitter account also apologized for the posts, saying it would conduct an investigation and “learn from …

The market cap of Bitcoin (BTC) dropped another 33% in June, which is now beginning to numb the Twitter community. On the upside, many crypto traders who wanted out did so fairly aggressively from March to May. But, the less optimistic news is that the stagnancy in address activity may need to change for prices to get a running start on recovery. Unlike April and May, the altcoin pack didn’t struggle tremendously more than Bitcoin. BTC’s 33% drop was pretty middle of the road in terms of corrections. In a vacuum, crypto bulls would prefer seeing altcoins continuing to lag, …

The billion-dollar music industry is undergoing a major transition as artists begin to understand the potential of owning their work through nonfungible tokens (NFTs). Ashanti, the multi-platinum-selling singer, actress and co-founder of EQ Exchange — a women-led Web3 platform — recently shed light on this during a Cotton Candy Records meetup that took place on June 20 in New York. Speaking on a panel alongside Janice Taylor, founder and CEO of EQ Exchange, Ashanti went into detail about how important ownership is for creators today. Drawing from personal experience, Ashanti said: “It is incredibly important to continue the narrative that …

Crypto Twitter has gone after Nic Carter, a prominent advocate of Bitcoin (BTC), for his involvement in Dynamic, a third-party wallet authentication project that could potentially prevent wallet transactions to be performed if a wallet is categorized as risky. In a tweet, Carter shared his excitement in backing the project, tweeting Dynamic's announcement about a recently completed $7.5 million raise led by Andreessen Horowitz (a16z). Following this, users flocked to Carter’s Twitter, expressing their disappointment because of the move. Twitter user Lifetheuniverce argued that what Dynamic is creating is the “antitheses of what Bitcoin was created for.” The Twitter user …

Members of the crypto community on Twitter have been left bewildered by the beleaguered Celsius Network continuing to pay weekly rewards despite pausing withdrawals two weeks ago. As previously reported, crypto lending platform Celsius paused withdrawals on June 13 after citing extreme market conditions amid the current bear market. Reports soon followed that the firm was undergoing liquidity issues and may be heading toward insolvency, potentially putting users’ funds at risk. Why is @CelsiusNetwork still paying rewards if apparently they are talking bankruptcy? Why not pause rewards and set a low withdrawal limit? Is it me or does that make …

Cryptocurrency lending platform Nexo has hit back at what it called “fake news” and rumors that its founders were part of a charity embezzlement scandal, saying the claims are untrue and defamatory. It has issued a public cease and desist notice to the originator of the allegations. In a blog post about the claims, Nexo stated: “Several anonymous Twitter accounts are using lies and distortion in yet another smear campaign against Nexo and profiting from short positions in a distressed market.” The pseudonymous Twitter account otteroooo, who call themselves “Otter,” posted a series of tweets on Saturday claiming that Nexo’s …

The Twitter board has unanimously recommended that shareholders vote in favor of Elon Musk’s takeover of the social media giant. Twitter’s board of directors initially accepted the $44 billion takeover bid at $54.20 per share in late April, and shareholder approval is the final hurdle to the deal going through bar any potentially erratic antics from Musk. According to a Tuesday United States Securities and Exchange Commission (SEC) filing, Twitter’s board of directors unanimously determined that the “merger agreement is advisable” and have called on shareholders to vote in favor of the deal. The board stated that Twitter will be …

Noah Davis, the nonfungible token (NFT) specialist at auction house Christie’s, has said he’s leaving the position in July to take up a post as brand lead for the CryptoPunks NFT collection with Yuga Labs. Announcing the move on Sunday in a Twitter thread, Davis looked to quash any anxieties holders had regarding the future of one of the oldest NFT projects, saying he “will not f*ck with the punks.” What does that mean? It means no Punks on lunchboxes or cringe TV shows/shitty movies. It means no arbitrary rushed utility or thoughtless airdrops. It means if you love your …

Many in the crypto world have been glued to their screens with eyes dead set on financial conditions this week. That isn’t the case for everyone though, as thousands are suddenly experiencing thewoes of sudden unemployment. Words of encouragement and sympathy also poured out across Twitter and LinkedIn consoling individuals released from their responsibilities. Some expressed frustration, confusion and anger while others expressed gratitude, renewed vision and reflections. My heart is with those recently laid off. I too have been one of the lucky ones to be spared by massive layoffs on days where friends have been let go. This …

Crypto traders and investors started out the week with a major shock to the markets. As assets across the blockchain industry went into a collective dive on Monday, users took to Twitter to voice their dismay (or in some cases jubilation) with the current state of crypto. Inflation, potential interest rate hikes, a looming recession, and yet another DeFi fiasco have all contributed to the current onslaught seen in markets on Monday. As a result, Bitcoin's (BTC) price plunged to levels not seen since late 2020, several crypto exchanges limited users from withdrawing their tokens, an increasing number of Web3-centric …