Elon Musk fired a chunk of Twitter's executive team, including the CEO 🙃

GM Baos,

Today, Elon Musk takes over our world 😳

We cover:

• Elon Musk taking over Twitter 🐦

• Buying & selling NFTs via tweets

• Cryptocurrency regulations in Singapore 🇸🇬

Elon Musk owns Twitter   

Much wow. 

Elon Musk's long awaited $44b deal to buy Twitter has OFFICIALLY closed. And guess what he did first!? Fire Parag Agrawal (CEO) and Ned Segal (CFO). Apparently they were escorted out of Twitter headquarters 😱

We don’t know what else Elon Musk has in store for Twitter, but here's what we're speculating he will do...

• Remove all spam bots 🤖

• Have the Twitter algorithm become open source

• Integrate crypto payments

• Modify Twitter Blue— add verification & change price to $2 a month (12 months upfront)

$DOGE pumped almost 40% this week, in anticipation of Elon Musk buying Twitter 👀 And as I’m writing this, it’s already started to correct a little. 

What are your thoughts? Will Elon Musk make Twitter better? 🧐

Twitter's new feature: NFT Tweet Tiles 🐦

It's been a big week for this social networking platform.

Twitter devs announced they are testing out something called "NFT Tweet Tiles". Rarible, Magic Eden, Dapper Labs, and Jump Trade were among the first marketplaces chosen to partner with Twitter and test this new feature. 

For Twitter users on IOS or Web, NFTs from one of their partner marketplaces will show up as a full size JPEG along with metadata. 

Interestingly, this feature supports all networks that these marketplaces are on. This means blockchains like Ethereum, Solana, Flow, Polygon, Tezos and Immutable X. While Twitter Blue only supports NFTs on the ETH network.

What’s next?  

MAS proposal to ban leveraged trading

Singapore’s central bank, The Monetary Authority of Singapore (MAS), proposes new regulations for crypto investors and exchanges. An effort to protect retail from the risks of Digital Payment Tokens (DPTs).

What this means:

• Ban on debt-financed/leveraged trading

• No buying crypto with a credit card 🚫

• Restrict exchanges from offering incentives (airdrops, sign on bonuses)

• Ban exchanges from loaning out customer funds

Feedback on the proposals are open until December 21. However it's unknown the exact date these measures would take effect!

Bao-Sized News

• FTX is working on their own stablecoin

• LooksRare switches to zero royalty trading

• Meta’s Metaverse division lost $3.7b in Q3

Made us Kek

Have an incredible weekend Baos 🙂 Love y'all.

–Cassidy