This week on Crypto Twitter: Musk’s polarizing Twitter takeover

This week, crypto finally seemed to be out of the woods, although you can never be too sure in this business. As crypto prices continued to climb for second week in a rowElon Musk’s tumultuous Twitter takeover also entered its second week.

Many in crypto view the Tesla CEO’s new acquisition as a good thing; after all he is bullish on Dogecoin and owns millions of dollars of Bitcoin through Tesla—but speculation that Twitter would move to crypto under his stewardship was just that: speculation, until this week, when Binance and Andreessen Horowitz pitched their tents at Camp Musk.

Read on to find out all the latest developments about the year’s most controversial takeover.

Twitter, but Web3

On Tuesday, Musk tweeted a photo of a dog wearing a Twitter t-shirt. Dogecoin pumped hard in response.

That day, Musk again proposed the idea of ​​charging users $8 a month for verified accounts. Several people connected the dots.

Binance CEO Changpeng “CZ” Zhao bought into the idea, telling CNBC that plans for a paid subscription could “be done very easily, globally, using cryptocurrencies as a means of payment.” Zhao also talked about Binance’s 500 million dollar contribution to the takeover, saying crypto needs “a seat at the table when it comes to free speech.”

Ethereum co-founder Vitalik Buterin joined the discussion to say that he believes in Musk’s subscription model, but that those applying for the blue tick must undergo a thorough investigation.

Sriram Krishnan, a general partner at venture capital giant Andreessen Horowitz (a16z) shared a photo with his followers from Twitter’s San Francisco office. For those who don’t know, a16z is a major investor in blockchain, Web3 and other emerging technologies.

Michael Saylor, executive chairman of cloud software company MicroStrategy — the single largest institutional Bitcoin whale — chipped in his two cents.

However, Solana co-founder Anatoly Yakovenko was not one of Musk’s Yes Men this week. He believes Musk is wrong to blame civil activist groups for endangering free speech.

The other side of Dogecoin

For many people, Musk’s takeover was all fun and games until the mass layoffs started. Photos of a formal letter announcing impending layoffs circulated early Friday.

A few minutes later, New York Times technology reporter Kate Conger shared another official notice announcing the shootings.

Attorney Lisa Bloom reported a lot of backlash from Twitter staff. She said Musk’s layoffs are illegal both under federal law and in the state of California, where employers are required to give 60 days notice.

A former Twitter employee shared his shocking story.

The best of the rest.

Chief Gary Gensler of the United States Securities and Exchange Commission, also known as Sheriff of Cryptoville, shared a birthday message for Bitcoin. Gensler believes that virtually all cryptocurrencies are securities, no matter where he is formerly designated Bitcoin as a commodity, meaning he has given the world’s favorite cryptocurrency immunity, from himself.

Circle’s director of European strategy and policy, Patrick Hansen, shared an important announcement on Tuesday about the EU’s landmark new crypto legislative package, which will be enforced if it passes a final vote by the European Parliament in February.

On Wednesday, an account called @TheSkyhopper listed the damage caused by the industry’s recent liquidity problems, which started early this summer in the wake of Terra’s collapse.

Cryptoblogger Eric Wall said on Friday that if Michael Saylor’s MicroStrategy had invested 3.98 billion dollars it spent on Bitcoin to Ethereum instead, it would be way up, as opposed to where the investment is actually right now, currently under water.

South Korean authorities can cancel Do Kwon’s passport; they can issue him an arrest warrant for allegedly violating capital market rules, but the thirty-one-year-old Terra CEO and co-founder wants them and every other enforcer on the planet to know he’s not losing any sleep.

Finally Facebook’s metaverse pivot umm… is going really well…