Elon Musk launched his hostile takeover of Twitter in today’s headline news. Elsewhere, Uniswap is facing a lawsuit and Wikipedia users won’t be able to donate crypto any longer.
Today's Headlines
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Breaking: Elon Musk Proposes to Buy Twitter for $43 Billion!
Elon Musk launched a bid for a hostile takeover of Twitter. The Tesla CEO is offering $54.20 per share for a controlling stake in the company, a significant premium over the current share price. Musk says it’s his “best” and “final” offer. Binance CEO CZ seemed to respond favorably to the news, tweeting — “privatize it, issue a token, decentralize it.”
Uniswap and Andreessen Horowitz Sued for "Fraudulent Conduct"
Uniswap, Andreessen Horowitz and Pantera Capital face a lawsuit for “fraudulent conduct” on the Uniswap exchange. The indictment accuses the parties of encouraging fraud and promoting pump-and-dump schemes. Incredibly, it also contains allegations that classic “shitcoins” like Rocket Bunny and Bezoge Earth are unregistered securities.
Unclear Indian Crypto Regulation Sees Exchanges Suspend Deposits
The two biggest Indian crypto exchanges by trading volume, CoinSwitch Kuber and Wazir X, halted deposits due to ongoing regulatory uncertainty. After India passed a law on April 1 applying a 30% tax on crypto investments, trading volumes on Indian exchanges have plummeted. Industry officials remain hopeful the situation will improve in the future.
Wikimedia No Longer Wants Cryptocurrency Donations
Members of the Wikimedia Foundation — operates Wikipedia — voted in favor of a proposal to reject cryptocurrency donations. The vote passed with a 71% majority, following a long and heated discussion between contributors. The arguments in favor of disabling crypto payments included concerns over crypto’s environmental impact and its alleged encouragement of risky investment behavior.
The Merge Coming Soon, Says Ethereum Developer
Tim Beiko, an Ethereum developer, clarified his expectations for the release of The Merge, Ethereum’s switch to proof-of-stake. According to Beiko, The Merge will happen in “the few months after” June. Although delays are still possible, Ethereum is “in the final chapter of PoW.” Following his statement, the probability of The Merge rose on prediction markets.
