Is Elon Musk moving away from Twitter?

The links between old and new markets are expanding every day. In The SEC filing revealed yesterday that founder billionaire of cryptocurrency exchange FTX, Sam Bankman-Fried, had bought a 7.6% stake in the publicly traded online cryptocurrency and stock trading app Robinhood, paying about $ 648 million. The company stocks have skyrocketed in after hours trading. FTX is not yet publicly traded, but the move shows Bankman-Fried’s old-school ambitions.

The Twittersphere and cryptocurrency cultists enthusiastically welcomed the purchase of the anticipations of Elon Musk’s Twitter acquisition and further proof of the billionaires’ financial and cultural power for the blockchain. But the situations are distinct. Bankman-Fried, 30, is perhaps as intent on exerting influence as Musk, 50. He’s also vocal, pours millions into political donations and global lobbying efforts, and is investing heavily in crypto initiatives to help ensure the rise of resources. digital. Twitter and Robinhood, however, are different beasts – there’s no path to an acquisition of Robinhood without the support of its two founders, Vladimir Tenev and Baiju Bhatt, who are deeply involved in the business and reportedly own over 60%. of grades right. They also took the company public last year.

Crypto’s most mainstream exchange, Coinbase, is bracing for more storms. When the company went public just over a year ago, its stock opened at $ 381. It is now under $ 60 amid the widespread decline in cryptocurrencies. Coinbase reported quarterly results much lower than analysts’ estimates this week. It also seems to be preparing for stricter control by the SEC, filing a registration statement “intended to be used for potential offerings that may include the sale of new securities.”

In other words, the company appears to believe the agency may soon face Gensler’s threats. He has often stated that most crypto tokens are securities that require registration. This would mean more corporate obligations and more agency oversight. Right now, maybe it doesn’t seem so reckless.


Trade in Russia has been curtailed since the Russian invasion of Ukraine, but has yet to be paralyzed, writes Ana Swanson of the Times. Maritime traffic in and out of Russia remained relatively strong, according to data from shipping tracker Refinitiv, as companies accelerated to fulfill contracts to purchase energy and other goods before the entry into force of the full force of global sanctions.

The changes in behavior after the Russian invasion have not yet been reflected in shipping traffic, said Jim Mitchell, head of oil exploration for the Americas at Refinitiv, as crude oil is typically traded 45 to 60 days before delivery.