Image source @ Visual China
On his first day at the helm, Musk brought wild storms to Twitter
According to the 13G filing released by the U.S. Securities and Exchange Commission (SEC), Musk held 73,486,938 shares of Twitter on March 14 through the Elon Musk Revocable Trust, equivalent to 9.2% of the company's issued common stock.
As soon as the news came out, it sparked a lot of speculation about the future of Twitter.
Although news broke that Musk appeared to be reducing his stake in Twitter, he quickly responded that it was a miscalculation in the SEC file.
In any case, that doesn't affect the fact that Musk is currently Twitter's largest single shareholder. Moreover, at the invitation of current CEO Parag Agrawal, Musk has joined Twitter's board of directors.
After the news of the stock holding Twitter came out, Musk launched a vote on Twitter, asking fans "whether they should add editing functions", the voting results have been released on the 6th, and 73.6% of netizens chose "Yes".
Image source: Twitter
However, according to Twitter's official account@TwitterComms confirmed on Tuesday (5th) that open editing is "not decided by polls", and its team has been developing a function of editing tweets "since last year".
The official Twitter account also shared a preview of the new button, which can be found by clicking on the three dots next to the Tweet. The details of how this feature works are unclear, but simply put, users will eventually be able to edit the content after posting a tweet.
For the crypto industry, though, the focus will never be on the simple editing of text. Twitter's open editing is the foundation of open source on the web and the first step in Musk's desire to "decentralize" social media.
Will Musk take too much? Twitter executives need more than running shoes
Musk joined the board and took a stake in Twitter, which can make Twitter shine. However, it could also be the beginning of Twitter's descent into the abyss.
First, Twitter's profitability has been questioned by the outside world.
Although Musk single-handedly increased Twitter's stock price by 27% in a single day, it is still a small witch compared to Facebook, which has changed its name to Meta and is also a social media. It's not even as explosive as the social media snapchat that burns after reading.
This surge in stock prices has also made many large investors re-examine this, so this is also one of the potential crises of Twitter. In February 2021, Twitter set its 2023 business target at $7.5 billion and set a threshold of more than 50% revenue over two years. This is really difficult, making people unconsciously think that Musk's stake this time is not his desperate helpless move.
Second, Musk is like a "wild horse", Twitter now who can control him?
Recently, because of Musk's high-profile advance, his former colleagues have also come to rub some heat. For the invitation to Twitter's board, steve Westly, a former Tesla board member, warned Twitter that the company must learn to work at Musk's pace. "My advice to Twitter executives is to put on your running shoes now, because Elon will push you to pick up the pace. It's only the first day, and he's already saying, 'Hey, maybe it's time to add editing there.'" I think he's going to make a big move. ”
Wearing running shoes can't keep up with Musk's pace, so let's get on a little rocket.
Chainde also mentioned in the previous article that Musk's relationship with the current Twitter CEO Parag is extremely delicate, and there are even rumors that Musk will try to assist Jack, who was forced away by the board of directors and is also a believer in the crypto industry, Jack said in the Tweet where Parag announced that he invited Musk to the board, "I am really happy", Musk replied, "Thank you Jack".
The image comes from Twitter, and the chain has to be translated
This interaction of the "double king" of the crypto industry has excited the crypto industry. No, my peers are starting to prepare for the battle.
Meta is exploring the virtual currency used in the metaverse: Zackcoin
Recently, Facebook, which changed its name to Meta, has developed plans to introduce virtual currencies, tokens and loan services in its applications. According to several people familiar with the matter, Facebook's financial arm, Meta financial Technologies, has been exploring the creation of a virtual currency for the company, internally known as "Zach Coin." Meta tends to introduce in-app tokens, which are centrally controlled by the company, similar to those used in gaming apps. The company has recently tried to find other sources of revenue and support e-commerce on the platform, delving into cryptocurrencies and blockchain technology.
Now announcing the in-app coin issuance, people have to think of a tweet that is in the limelight first.
Moreover, Meta also canceled this year's annual developer conference, officially explaining that it needs more time to prepare for the next big project: the metaverse. The last time a developer conference was cancelled was because of the global COVID-19 pandemic in 2020.
At the same time, other regional policies
Japan established the Meta-Universe Industry Association, trying to start with Japan's pillar tourism industry
Although Factors such as Japan's backward technology, system first, and close compliance with regulations have made it difficult for the country's crypto industry to move forward, the establishment of Japanese industry associations is very institutionalized and rapid. Japan's most important question is how to deal with the legislature.
On April 6, Japanese financial giant SBI Holdings (HD) announced that it would establish the "Japan Digital Space Economy Alliance" in April to propose policy recommendations for the digital space, including the metacosm, and in March co-opted the former director of the Japan Tourism Agency in an attempt to cut through the pillar of the Japanese economy, tourism.
This meta-universe industry association is mainly committed to policy advice and suggestions, and is currently sorting out the three major areas of intellectual property NFT, platform construction and digital finance.
However, this also makes many People in the Japanese industry scratch their heads. Because SBI, as a licensed platform for Japanese cryptocurrency exchanges, once established Japan's "stablecoin association", but it has been 3 years, and the association has not achieved anything. The function of this metaversal association is jokingly called "pit-occupying behavior".
UK Publishes Outline for The Development of the Crypto Sector
On April 4, the UK Treasury announced the "Outline for the Development of the Crypto Field", saying that it will not only include stablecoins in the scope of regulations, but also explore more possibilities for digital assets nationwide, such as having The Royal Mint use blockchain (distributed ledger) technology to issue NFTs.
The Royal Mint is a British government-owned mint operated under the name Royal Mint Ltd., but after 2009 the Royal Mint was no longer a government executive and was transformed into a wholly owned state enterprise by the British Treasury. In addition to producing pound coins, the Royal Mint also produces various commemorative coins and medals, and the Royal Mint's products are exported to around 60 countries every year, accounting for about 70% of its total sales.
UK Finance Minister Snak said, "We want the UK to be a global hub for crypto asset technology. This measure is a measure to support corporate investment, technological innovation and business expansion. ”
[This article was originally published in Chainde, authorized by Titanium Media App, author: Maori Goro]