CryptoSlate Wrapped Daily: Elon Musk seeks to move ahead with $44B Twitter deal; Justin Sun wants to buy Credit Suisse’s assets – CryptoSlate

The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $20,054.37 and BTC market dominance is %. The price of Ethereum is $1,459.92 and ETH market dominance is %. The best performing cryptoasset sector is Cannabis, which gained 23%.
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Elon Musk offers to buy Twitter at $44 billion, bankrupt Celsius set to auction assets on Oct. 20, and much more in this edition of CryptoSlate Wrapped Daily.
Cover art/illustration via CryptoSlate
The biggest news in the cryptoverse for Oct. 4 includes Elon Musk making a new offer for Twitter, Celsius planning to auction assets, Justin Sun offering to buy Credit Suisse’s assets, and Charles Hoskinson calling for an end to Bitcoin mining.
Elon Musk is back on the deals table as he offers to buy up Twitter for $44 billion at $54.20 per share.
Following the news, DOGE spiked 8% to reach a high of $0.066. Elon Musk had earlier hinted at the possibility of using Dogecoin to pay for Twitter Blue.
Twitter bots are making the social media platform unconducive for many crypto giants, and the crypto community as a whole.
Ripple’s CEO Brad Garlinghouse, Binance CEO Changpeng Zhao, Cardano’s founder Charles Hoskinson, and Ethereum cofounder VItalik Buterin have all called on the social media platform to address the menace.
Buterin said that turning Twitter into an open API will see third parties come on board to help resolve the issue.
With the increasing utility of wrapped Bitcoin (wBTC) on smart contract platforms, Cardano’s founder has called for an end to Bitcoin mining.
Charles Hoskinson explained that Bitcoin mining may not be a good investment of energy as there is a lot more BTC in circulation that those left to mine.
Hoskinson added that since the Bitcoin blockchain is not optimized for other use cases, existing BTC should be converted into wBTC so they can be utilized across decentralized finance Dapps.
Global bank Credit Suisse is currently at the risk of a fatal collapse as its stock price has declined by over 60% (year-to-date).
Tron founder Justin Sun has hinted at possibilities of buying up assets of the struggling Credit Suisse and bringing them into Web3.
In a recent court filing, Celsius Network expressed intentions to auction off its assets to interested bidders. The auction is scheduled for Oct. 20 and may attract potential bidders like FTX and Goldman Sachs.
Many Celsius creditors including Simon Dixon object to the auction plan, saying that the firm needs a re-organization, not a sale.
Coinbase is set to release the ‘COIN” on Oct. 7. The documentary spotlights CEO Brian Armstrong’s story and journey to building the first publicly traded cryptocurrency exchange.
Armstrong said he intends to use the documentary to unveil what it takes to build a tech startup and encourage more people to build companies that can improve human existence.
Decentralized social’s (DeSo) token spiked by over 156% since Sept. 28. It reached an all-time high of $21.45 on Oct. 3 and has since declined by over 32% to be trading at $14.5, as of press time.
DeSo was initially launched as Bitclout- a trading platform for “Creator Coins”.  However, since raising over $200 million in Sept. 2021, the platform has rebranded to position as a layer 1 blockchain powering decentralized social media applications.
Ripple has teamed up with climate startup Thallo to tap into the $2 billion carbon credits market.
Thallo leveraged Ripple’s carbon-neutral platform to build a marketplace to connect buyers and sellers of carbon credits, to execute their transactions in an easily verifiable manner.
Of the $4 billion laundered funds covered in the Elliptic report, about $3.3 billion was laundered through decentralized exchanges.
Three of the top leading DEXes (1inch,, and Uniswap) accounted for 75% of all illicit crypto swaps, while Paraswap and CoW protocol accounted for 14% of the laundering acts.
Grayscale’s bitcoin trust (GBTC) traded at an all-time low discount of -36%, equivalent to $12,500 when compared to the spot BTC price of $19,000.
Despite the current -36% discount, investors’ interest in the GBTC shares remains low. However, some analyst predicts that the discount could vanish if Grayscale received approval to offer a spot bitcoin ETF.
Drawing a parallel with the first approved Gold ETF in 2003, CryptoSlate Research revealed that a spot bitcoin ETF could lead to a rebound in BTC price, and likely trigger the next bull run.
Bitwise has listed its Web3 ETF on the NYSE Arca, following a filing with the SEC on Oct. 4.
The ETF will give investors exposure to web3 companies in five categories: finance, metaverse, infrastructure provider, web3-enabled creator economy, and governance.
It was a green day for the crypto market as Bitcoin (BTC) soared by 3.84% to reach a high of $20,285. Ethereum (ETH) followed the uptrend as it increased 2.99%, trading at $1,356.
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
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Bitcoin is a consensus network that enables a new payment system and completely digital money. Learn more
Dogecoin is an open source peer-to-peer digital currency, favored by Shiba Inus worldwide.. Learn More
Justin Sun is the CEO and Founder of TRON, the largest decentralized ecosystem in the world, and the CEO of BitTorrent. Learn More
Brian Armstrong is the chief executive of Coinbase, the largest cryptocurrency exchange in the United States. Learn More
Charles Hoskinson is a Colorado-based technology entrepreneur, mathematician, and blockchain enthusiast. Learn More
Vitalik Buterin is the creator of Ethereum, the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications. Learn More
South African-born Elon Musk has founded several companies, including X dot com (which later became PayPal), SpaceX and Tesla Motors. Learn More
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management. Learn More
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger. Learn More
Coinbase Global, Inc, branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Learn More
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The crypto community doubts that a Medium post from Andre Cronje’s account is from the DeFi pioneer, stirring questions about the motivations behind it.
The FTX founder asked those who think he is lying to place a bet on whether FTX would list Spot ADA within the next three months.
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Tron-native tokens will be accepted as a medium of payment in the Commonwealth of Dominica.
2M BNB tokens were moved to a wallet that was immediately blacklisted by Tether – the BNB chain has been paused
Cardano founder Charles Hoskinson made the statement in reaction to a picture of Kanye West wearing a cap with a Satoshi Nakamoto inscription after he was de-banked by JPMorgan.
Valentin Cabela talked about Zilliqa’s vision for web3 gaming, the gaming console, its mining abilities, and the built-in cold wallet.
A weekly recap of key Bitcoin metrics and the macro factors affecting its price performance in the market, published every weekend.
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