Crypto hedge fund Three Arrows Capital (3AC) has bought more than half a billion dollars worth of Ether in the time since CEO Zhu Su publicly slammed the cryptocurrency on Twitter. Do the purchases mean he's changed his mind, or was he just taking advantage of a market crash to buy the dip? In an anti-ETH tirade between Nov. 20 and Nov. 22, Zhu tweeted about why he had “abandoned Ethereum despite supporting it in the past.” The thread came in response to a tweet from Synthetix founder Kain Warwick, who’d called out people who have “sold out in pursuit …

Digital payments company Square announced that it has changed its company name to Block, seemingly in a shift towards blockchain technology. In a Wednesday tweet, Square said the rebrand will bring the payments firm together with Cash App, the decentralized Bitcoin (BTC) exchange project tbDEX, and music and video streaming platform Tidal. An accompanying news release said that Square Crypto, the cryptocurrency-focused branch of payment firm, will also be changing its name to Spiral and joining the Block family. “Block references the neighborhood blocks where we find our sellers, a blockchain, block parties full of music, obstacles to overcome, a …

Twitter chief executive officer Jack Dorsey is reportedly planning to resign his position at the social media firm. According to a Monday CNBC report, Dorsey is expected to step down as the CEO of social media giant Twitter, which he helped co-found in 2006. It’s unclear if Dorsey plans to leave Twitter behind to focus on operations at Square and the platform’s initiative to develop a decentralized Bitcoin (BTC) exchange. I love twitter — jack⚡️ (@jack) November 28, 2021 Related: Jack Dorsey discusses plans to build a decentralized exchange for Bitcoin On Nov. 19, the decentralized exchange project, called tbDEX, …

Nonfungible tokens (NFTs) are evolving from a niche interest to a mainstream conversation. The variety of NFT art — from cuddly to edgy to menacing — is drawing in a new audience of enthusiasts. Beyond the art, NFTs are providing a glimpse into a new layer of social interaction. When framed as micro-social networks, NFTs could lead the way to a new form of social media based on creativity, ownership and contribution. Groups serve as epicenters of NFTs projects Every week, dozens of Discord and Telegram groups appear in support of new NFT projects. These groups serve as the epicenter …

Twitter has become an arena for another cryptocurrency-related battle due to Binance experiencing ongoing issues with Dogecoin (DOGE) withdrawals. Tesla CEO Elon Musk, one of the world’s biggest Dogecoin fans, took to Twitter on Tuesday to bring up issues related to DOGE withdrawals on Binance. Tagging Binance CEO Changpeng Zhao, Musk wrote: “What’s going on with your Doge customers? Sounds shady.” Binance’s official Twitter account took about 30 minutes to respond, arguing that there’s nothing shady with the issue and citing a fresh Twitter update regarding the problem. “The root cause is a technical issue during the recent upgrade process …

California-based music streaming platform Audius released new functionality that allows artists and fans to embed nonfungible tokens (NFTs) on various blogs and social media platforms such as Twitter and Discord. The “embedded” functionality aims to improve fan engagement for musicians through NFT adoption and Web 3.0 integrations. To enable the feature, artists need to connect their Audius accounts with Phantom wallet, a crypto wallet centered around the Solana ecosystem. Aimed at increasing the discoverability of Solana NFTs, the company stated: “NFT holders can embed their collectibles from the two biggest blockchains on Twitter timelines, personal blogs, and websites. Thanks to …

Sotheby’s, the world’s oldest art and luxury auction house, announced its collaboration with the public health care advocate and nonprofit organization Sostento to auction off its latest NFT collection via the Sotheby’s Metaverse. The auction entitled, ‘Gifted: The 140 Collection,’ is considered to be Sotheby’s “biggest NFT charity auction ever,” with all of its proceeds going towards Sostento. The NFTs were originally gifted by Twitter as part of a giveaway of 140 NFTs to 140 random followers in June of this year. Its recipients became known as “The Besties.” Now, 7 of these Besties have elected to sell the full …

CEO and founder of hedge fund Three Arrows Capital (3AC) Zhu Su tweeted that he has “abandoned Ethereum despite supporting it in the past,” before making a U-turn on the statement. In the Nov. 21 thread, Su claimed that Ethereum culture “suffers massively from the Founders’ Dilemma,” and that “everyone is already far too rich to remember what they originally set out to do.” Yes I have abandoned Ethereum despite supporting it in the past. Yes Ethereum has abandoned its users despite supporting them in the past. The idea of sitting around jerking off watching the burn and concocting purity …

Jack Dorsey, co-founder, and CEO of both Square and Twitter, released a white paper Friday detailing plans for Square's decentralized Bitcoin (BTC) exchange tbDEX. Unlike most decentralized exchanges, or DEXs, tbDEX will not utilize a trustless model, and therefore will not feature its own governance token. Instead, it is a message protocol designed to facilitate trust relationships without relying on a federation to control access. The tbDEX also intends to include many features that make it far less decentralized than a DEX in the truest sense of the word. For starters, the protocol requires that all participants to pass background …

New data suggests that Shiba Inu (SHIB) is the largest ERC-20 token holding amongst the top 1,000 Ethereum (ETH) whales. According to data compiled by WhaleStats looking at the Ethereum-based token holdings of the largest ETH wallets, SHIB represents 21.68% of the combined market share at $2.35 billion. The next highest asset in terms of holdings is Crypto.com’s native token CRO, representing 5.54% at $603.9 million. #ShibArmy Congrats! The King is coming back! #SHIB flipped #BEST, #OKB and #CRO to become biggest ERC-20 hodling (17.44%) among the top 1000 ETH wallets with total value of $2,371,207,191 Source: https://t.co/jGSeQ3uXfo pic.twitter.com/WVGOpmcYjf — …

When crypto traders win big, they often take to Twitter to share the joy. They tend to do the same for sharing painful stories of getting wrecked, discussing promising new assets, or sharing insight and predictions on which projects can become the next big thing. Sometimes these waves of social attention can even create positive feedback loops whereby the tokens that command the chatter see their prices soar precisely for that reason. The volume of tweets referencing a particular asset can indicate a lot of different things. This month, the five tokens that saw the greatest month-to-month increases in daily …

Popular community messaging app Discord has been forced to walk back its integration plans with Ethereum (ETH)-based NFTs following strong backlash from a significant number of its user base. The pushback started on Nov. 9 after Discord’s founder and CEO Jason Citron tweeted “probably nothing” accompanied by a screenshot of the app’s user settings page that displayed an ETH logo and option to connect digital wallets such as MetaMask and Wallet Connect. Citron was then bombarded with thousands of comments calling on him to abandon the plans along with users threatening to cancel Nitro subscriptions. The crypto-skeptics asserted that NFTs …