Crypto Market Overview October 27th | Dex-Trade

Crypto Market Overview October 27th | Dex-Trade

Michael Saylor Defends Users from Bots on Twitter

The founder and ex-CEO of Microstrategy, Michael Saylor, reacted to the completion of the purchase of the social giant Twitter by Elon Musk and spoke out in order to protect users of the social network by solving the problem of fake and automated accounts. On Wednesday, Musk tweeted that Twitter's main feature is the ability to conduct citizen journalism without bias, to which Saylor replied that social network users should be protected as much as possible in order to ensure and maintain freedom of speech. Moreover, the current executive chairman of Microstrategy clarified the conditions for such protection: “We will have freedom of speech if the Twitter platform can protect the citizens from the establishment above and bots below.” In fact, Sailor's position suggests that despite the obvious problem with bots in the social network, which was repeatedly voiced and even caused the freezing of the deal between Twitter management and Musk, the preservation of the ecosystem for the implementation of free speech in the social network also depends on its current owners, who , obviously, should limit the impact on the posts of users. Yes, this statement by Sailor looks like populism, but the mere mention of the need for “restrictions from above” in the information field plays an important role in the relationship between the leadership of the social giant and the audience of users, which, according to current data, is about 1.3 billion people.


“Working on the Metaverse Will Have Historic Significance”: Mark Zuckerberg's Moment of Fame

Yesterday Meta Platforms, Inc. released its third-quarter 2022 financial results report, after which founder and CEO Mark Zuckerberg said that Meta's work to streamline and scale the company's metaverse will ultimately be historic for the industry. “...and to deliver a great work and productivity experience, I am excited about the partnerships that we announced with Microsoft, bringing their suite of productivity and enterprise management services to Quest; Adobe and Autodesk bringing their creative tools; Zoom bringing their communication platform; Accenture building solutions for enterprises and more.” How does this work affect financial flows at Meta Platforms, Inc? The company's profit was $27.71 billion, down 4% year-over-year but up 2% year-over-year in stable currency terms. At the same time, the company's total costs and expenses amounted to $22.05 billion, which is 19% more than last year, and capital expenditures, including basic finance lease payments in the third quarter of 2022, reached $9.52 billion. Zuckerberg also said that Meta has a long way to go in building the next computing platform, but that the company already sees this as its main focus. "This is a massive undertaking. And it’s often going to take a few versions of each product before they become mainstream…"


Brian Armstrong Angered the XRP Community

Coinbase CEO, Brian Armstrong, said in yesterday's "Around The Block" podcast that he wants the crypto industry to be more open to collaboration as disunity in crypto is "annoying." However, his statements did not elicit a positive reaction, primarily from the XRP community, which believes that the head of Coinbase is late to the party and is trying to verbally support an ideal that he does not believe in and does not practice. Ripple’s CEO, Brad Garlinghouse, has blatantly hinted at Armstrong’s hypocrisy, and several other Twitter responses have highlighted that the ideal of collaboration that the XRP community has longed for has not, in fact, received the expected support even from Coinbase. It is worth noting that when the US Securities and Exchange Commission (SEC) pursued Ripple and XRP in 2020, the head of Ripple called it an attack on cryptocurrency in general. At the same time, Armstrong refrained from choosing a position in the dispute, and there were practically no crypto-influencers who would openly support Ripple. Representatives of the Ripple community mainly believe that Armstrong spoke about mutual support only because at the moment the US regulatory policy has become a potential threat directly to Coinbase.