How the CFOs of Block and are decoding where consumer spending is heading

Good morning. The proverbial consumer has become the central focus of the economy this summer, the key to deciphering the murky outlook ahead. Consumer spending, which makes up 68% of the US economy, is tenuous and poised to decline. So what are companies learning about consumers? With confidence slipping and households growing more cautious about … Read more

UK Army’s Twitter and YouTube accounts hacked to promote crypto scams

A screenshot of the British Army’s Twitter profile when it was hacked, via Wayback Machine. Its profile and banner pictures were changed to resemble a nonfungible token collection called “The Possessed.” A hacker compromised the social media accounts of the British Army to push people toward cryptocurrency scams. The army’s Twitter and YouTube profiles were … Read more

Elon Musk had a bad week at Tesla, SpaceX and Twitter

Elon Musk pauses and looks down as he speaks during a press conference at SpaceX’s Starbase facility near Boca Chica Village in South Texas on February 10, 2022. Jim Watson | AFP | Getty Images In what’s been a particularly eventful year for Elon Musk, this was a decidedly rough week. Tesla’s stock, which has … Read more

Musk met Twitter execs before making a bid, unclear if bots discussed

Elon Musk has said he will not move forward with his $ 44 billion Twitter acquisition until he has more details about fake accounts on the platform, but he met with the company’s top brass for three days to discuss its business before he publicly announced his bid, according to a new securities filing. The … Read more

Musk’s bid to buy Twitter private story detailed in new filing

The official profile of Elon Musk on the social network Twitter. Rafael Henrique | Lightrocket | Getty Images A new filing with the Securities and Exchange Commission sheds light on the Twitter board’s early conversations with billionaire Elon Musk as he decided to join the board, and later, abandon that plan and try to take … Read more

Crypto industry wields its influence in Washington after pouring over $30 million into campaigns

Jtsorrell | Istock | Getty Images US Rep. Ritchie Torres, DN.Y., called on New Yorkers to support the cryptocurrency market in a March op-ed in the New York Daily News titled, “A liberal case for cryptocurrency.” “With a multi-billion dollar market capitalization, crypto is here to stay. It’s not going anywhere. New York City should … Read more

5 things to know before the stock market opens Thursday, May 5

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to drop after a strong Fed-driven relief rally A screen displays the Fed rate announcement as a trader works inside a post on the floor of the New York Stock Exchange (NYSE) in New … Read more

Binance backing for Elon Musk’s Twitter bid boosts ‘Web3’ vision

Binance is the world’s largest crypto exchange, handling billions of dollars in trading volumes on a daily basis. STR | NurPhoto via Getty Images Bitcoin exchange Binance’s move to participate in Elon Musk’s $ 44 billion takeover of Twitter could boost digital currency evangelists’ hopes for the development of a more “decentralized,” crypto-friendly social media … Read more

Dorsey, Saylor, Fidelity write to EPA to defend bitcoin mining

These machines, known as mining rigs, work round the clock to find new units of cryptocurrency. Benjamin Hall | CNBC Some of the biggest names in bitcoin – including Jack Dorsey, Tom Lee, and Michael Saylor – have banded together to refute claims made by House Democrats calling on the Environmental Protection Agency to investigate … Read more

Elon Musk is the ‘singular solution’ for Twitter

Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021. Marco Bello | AFP | Getty Images Twitter co-founder Jack Dorsey approves of Elon Musk’s deal to buy the social media site for $ … Read more