News of the week: Elon Musk wants to buy Twitter and inflation hits the US

Among the most outstanding news of the week is the proposal of the billionaire owner of Tesla, Elon Musk, who offered some USD 43 billion for the social network Twitter, in order to control and change it. On this subject, Twitter issued a statement in which they stressed that they were going to “carefully examine” Musk’s millionaire offer.

Meanwhile, the bitcoin price posted a significant loss this weekend, returning to values ​​below $40,000. The weekly drop of the cryptocurrency is estimated at 5.7%. At the time of writing, BTC is trading at USD 39,468, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.

These are the most important news:

  • Elon Musk, the CEO of Tesla and SpaceX, made public his mistrust of Twitter’s directive and, therefore, announced a millionaire offer to buy the company creator of the social network. The tycoon warned that if his proposal is not taken into account, he will have to reconsider his position as the company’s largest shareholder (9.2%), which he has held since April 4. Meanwhile, the monthly report of the Consumer Price Index for the month of March from the United States Bureau of Employment Statistics (BLS) revealed a new record annual inflation of 8.5%the highest in 41 years.
  • US Treasury Secretary Janet Yellen highlighted the work of Satoshi Nakamoto, the pseudonym used by the creator of the Bitcoin protocol. the official delved into the benefits and risks of using cryptocurrencies. Yellen made it clear that he leans towards a more friendly position with these technologies of money after having condemned them as conducive to the execution of illicit activities. This, while Ethereum developer Virgil Griffith He was sentenced to 63 months in US prison for giving educational lectures on cryptocurrencies in North Korea in 2019. Since that date he has been detained, accused of conspiring so that the Asian country could evade sanctions.
  • The Ministry of Finance of Russia you already have the bill ready definitive that will regulate the bitcoin sector and cryptocurrencies. This is a review of the proposal that the body presented last February and that was sent a few days ago to the Government of the Russian Federation for approval. The law is expected to be approved in this second quarter of 2022. Meanwhile, in neighboring Kazakhstan, authorities have announced new plans to raise taxes. The idea is to apply a collection scheme that consists of increasing the tax rate as the price of the cryptocurrency rises.
  • The balance of the cryptocurrency market has not been very positive. Until now bitcoin and altcoins are below their respective prices at the beginning of the year and the capitalization has decreased. Despite this, the capitalization of the stablecoin sector shows a growth of 13% so far in 2022. It is further known that, despite automatic reductions in bitcoin issuance, miner revenues currently hover around $207,000 per exahash (EH) of power contributed to the network. Is about a significant increase of their profits, especially if they change them to dollars.
  • In one of its most recent reports, the International Monetary Fund analyzed the results of a survey applied to 110,000 people in 55 countries on the use of bitcoin. The study focused on how digital assets can be used in corrupt countries. It determined that in countries with strict capital restrictions, bitcoin users are increasing, something that led them to conclude that its popularity is related to corruption and not with inflation. On the other hand, Wikipedia and Mozilla reported their decision to do not accept donations in cryptocurrencies. This, under the argument of the alleged negative environmental impact attributed to mining of cryptocurrencies that uses the Proof of Work (Proof of Work or PoW).
  • Arbitrum and Optimism rollups, Ethereum’s second layer solutions for faster and cheaper transactions, they added support To Umbra, a tool to add privacy in which only the sender and receiver know who participated. Likewise, in Beacon Chain, the Ethereum 2.0 network, what is called a shadow fork (shadow fork). Over there stress tests were implemented deliberately entering errors into the system to see its behavior.

If you want to know the meaning of several words of the terminology of the crypto world, you can consult them in the extensive CryptoNoticias Glossary. Here’s a little sneak peek at the word IBO.

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IBO (Initial Bounty Offering): can be translated as “Initial Reward Offer”. It is an event in which a company, group or organization in the world of cryptocurrencies invites individuals and third parties for a certain period of time to carry out a series of tasks related to marketing, content or searching for errors in the code of its software. In return, these individuals are rewarded with native platform tokens.

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News of the week: Elon Musk wants to buy Twitter and inflation hits the US