COIN BUREAU NEWSFLASH! – (12/05/23) Here are some of today’s m | Coin Bureau Insider
COIN BUREAU NEWSFLASH! – (12/05/23)
Here are some of today’s most important headlines:
NBCUniversal’s Linda Yaccarino Is in Talks to Become Twitter CEO
According to a Wall Street Journal report, Twitter CEO Elon Musk is in talks with Linda Yaccarino, the current head of advertising at NBCUniversal (NBCU), to appoint her as the new CEO of Twitter.
In her decade-long career at NBCU, Yaccarino was an industry advocate for efficient advertising and played a key role in the launch of the company’s ad-supported Peacock streaming service.
Shortly before the WSJ report, Musk tweeted,
"Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks! My role will transition to being exec chair & CTO, overseeing product, software & sysops."
https://www.wsj.com/articles/linda-yaccarino-in-talks-new-twitter-ceo-elon-musk-7a006bb5
BlockFi Gets Court Permission to Return $297 Million To Wallet Customers
Yesterday, U.S. Bankruptcy Judge Michael Kaplan ordered bankrupt crypto lender BlockFi to return the $297 million in funds present in its non-interest-bearing accounts back to customers after ruling that the “digital assets held by the debtors in custodial omnibus wallets are indeed client property and not property of the bankruptcy estates.”
Judge Kaplan also added that BlockFi customers who had their funds present in interest-bearing accounts did not own their deposits and that BlockFi did not need to repay the $375 million in funds that clients tried to withdraw from interest-bearing accounts at the last minute.
Judge Kaplan ruled,
“No transfer request by customers between the BIA and the custodial wallet accounts initiated after 8:15 p.m. on Nov. 10, 2022, were effectuated and completed.”
https://www.reuters.com/legal/blockfi-gets-court-permission-return-297-million-wallet-customers-2023-05-11/
Ethereum Mainnet Was Unable to Fully Finalise Transactions for 25 Minutes
Yesterday, an unidentified issue on Ethereum’s Beacon Chain led to the blockchain being unable to fully confirm transactions for about 25 minutes. Notably, blocks were still getting proposed but not being finalised. While the mainnet is now finalising blocks again, developers have stated that they are still investigating what caused this outage.
https://www.coindesk.com/tech/2023/05/11/ethereum-mainnet-was-unable-to-fully-finalize-transactions-for-25-minutes
Binance.US Explores Ways to Cut Founder Changpeng Zhao’s Majority Stake
According to a report by ‘The Information’, Binance.US and Binance CEO Changpeng Zhao (CZ) are looking for ways to reduce CZ’s stake in the U.S. entity. The report states that CZ has been trying to cut its stake in the American unit since last summer, before the U.S. Commodity Futures Trading Commission sued the exchange. Binance.US executives are reportedly worried that the company may not be able to get certain U.S. regulatory licenses as long as Zhao is the majority owner.
https://www.theinformation.com/articles/binance-us-explores-ways-to-cut-founder-changpeng-zhaos-majority-stake
Do Kwon Set to be Released After Montenegro Court Accepts $436,000 bail
Terraform Labs founder Do Kwon’s lawyers have reportedly requested the court to let Kwon and his fellow Terra executive Han Chang-joon off on supervised bail by confining them to home arrest after providing the court with 400,000 euros for each of them. Both Kwon and Chang-joon have denied the charges, and prosecutors have opposed the proposed bail conditions. However, the court has accepted the bail proposal and has set the next trial date for June 16.
https://www.theblock.co/post/230575/do-kwon-bail
