Chain News by Thebittimes.Com

Amidst recent reports about a revenue drop, the new CEO has wasted no time in making changes. Following rumors, it has just been reported that Elon Musk has officially fired 50% of Twitter Staff. Following the $44 million acquisition of one of the biggest social media platforms in the world, a new direction was assumed. Subsequently, the platform has seen a plethora of changes amidst its newfound evolution. Yet, with news hinting at a decline in revenue, Musk’s official response to his inherited staff is now public. BREAKING: Elon Musk fires 50% of Twitter staff. — Watcher.Guru (@WatcherGuru) November 4, 2022 Drop in Revenue Cited by Musk as the Reason for Mass Layoffs As reported by the Wall Street Journal, Elon Musk has cited a significant cutback in advertisers as the inciting incident to a drop in earnings. Conversely, layoffs quickly followed just over a week into the CEO’s tenure. In a Tweet sent by Musk, context to his implemented firings was giv...

Source: Adobe/Sergey A decision by the peer-to-peer payments company MoneyGram to allow users in the US to buy, sell and hold litecoin (LTC) and other cryptocurrencies could push the litecoin price up by more than 10x, some believe. The news that MoneyGram will offer litecoin to its users broke on Wednesday this week, when the payments company called cryptocurrencies “additive to everything we're doing at MoneyGram,” and said users in nearly all US states will now be able to trade them. In addition to litecoin, MoneyGram users will also get access to trade and hold bitcoin (BTC) and ethereum (ETH). But since litecoin has a much smaller market capitalization than the two other cryptocurrencies, the news led to a much bigger market reaction for LTC. In response to the news, the price of LTC pumped in the market as trading volume surged for the coin. Within 1 hour of the news breaking, LTC was up more than 10% to just over $61. As of press time on Thursda...

Join Our Telegram channel to stay up to date on breaking news coverage A shareholder has penned an open letter to the CEO of Meta, Mark Zuckerberg. According to the shareholder, Meta’s investment into the metaverse was “super-sized and terrifying.” Shareholder concerned with Meta’s large stake in the metaverse The open letter was written by the CEO and founder of Altimeter Capital, Brad Gerstner. Altimeter Capital owns a stake of around 0.11% in Meta. Gerstner published the letter on October 24 and addressed it to Zuckerberg. According to the shareholder, Meta needed to reduce its investments in the metaverse and technology division amid a steady drop in Meta’s stock prices over the past 18 months. Gerstner has said that while Meta’s venture into the metaverse was crucial, it should not demand the amount of investment it was currently getting. He noted that Meta was dedicating $10 billion to $15 billion annually to its metaverse project. Ho...

Join Our Telegram channel to stay up to date on breaking news coverage Oanda, a multi-asset trading service provider based in New York, has unveiled cryptocurrency trading services within the United States. The company will do this through a partnership with Paxos, a regulated blockchain infrastructure service provider. Oanda partners with Paxos to offer crypto services in the US The latest addition of cryptocurrency trading services has been made through a collaboration with the Paxos Trust Company. The service is designed to provide investors with an easy way of accessing cryptocurrencies and their existing forex portfolios within a secure environment. The partnership will allow investors within the US to complete spot trading for cryptocurrencies in the Paxos itBit exchange via the Oanda mobile platform. Investors will have a way of opening and funding trading accounts while accessing some of the largest cryptocurrencies like Bitcoin and Ether. The report by Oanda said ...

Join Our Telegram channel to stay up to date on breaking news coverage Gala is a market-leading Web3 entertainment brand that powers digital ownership and rewards using blockchain technology, introducing a completely new approach to creating and watching entertainment. Gala’s mission, which was introduced in 2019 with the launch of Gala Games, unites Gala Games, Gala Music, Gala Film, and VOX in the goal of providing fans with distinctive and immersive experiences fueled by Web3. Gala also grants creative freedom to content producers and up-and-coming talent by providing them with a direct line to fans and the opportunity to actively participate in new endeavors. By bringing popular IPs like Trolls and Battlestar Galactica to the web3 realm, Gala has a strong collaboration with NBCU. Uplandme, Inc. is an open web3 platform for the metaverse that is mapped to the real world company called Upland (https://upland.me/). The company&rsquo ;s goal is to create one of the most in...