Oh Elon. It was pretty obvious something was up when Twitter’s new CEO tweeted out of the blue that “Apple has mostly stopped advertising on Twitter,” and asked whether “they hate free speech in America?” Following a question from my colleague Jake Kastrenakes, Musk confirmed that the iPhone maker was threatening Twitter’s presence in the App Store and/or making moderation demands. Welcome to hell, Elon.
Away from the chaos at Twitter there was more bad news in the crypto sector with the news that finance firm BlockFi has filed for bankruptcy amidst the continued FTX fallout, while crypto exchange Kraken has agreed to pay hundreds of millions of dollars in fines over possible Iran sanction violations. Thank god we’ve got another trailer for The Super Mario Bros. Movie to look forward to later today.
For now, here’s a silly tweet:
Stay tuned, as we continue to update this list with the most important news of today: Tuesday, November 29th, 2022.
Nov 29, 2022
Why some tech CEOs are rooting for Elon Musk
After a long weekend away, today let’s talk about the largely positive reception that Elon Musk’s radical remaking of Twitter is getting from tech CEOs — and whether those views are likely to change if the fight that Musk is picking with Apple erodes even more value from his $44 billion purchase.
Read Article >Last week, Musk publicly mocked Twitter’s somewhat notorious “Stay Woke” T-shirts. The shirts, which the company produced in 2016 in response to the police killing of Michael Brown in Ferguson, Missouri, were considered suspect even at the time. In those days, it was the left rolling its eyes — particularly after then-CEO Jack Dorsey wore the shirt during a Code Conference interview, giving the impression that a phrase that had originated within the Black community in response to systematic oppression had been co-opted by white corporate marketers.
Nov 28, 2022
Crypto finance firm BlockFi files for bankruptcy following the fall of FTX
BlockFi has become the latest crypto firm to file for Chapter 11 bankruptcy a couple of weeks after pausing withdrawals on November 10th. The company is citing a “lack of clarity” around the circumstances of FTX, the collapsed firm going through its own bankruptcy process amid accusations of fraud and shoddy record-keeping. In a press release posted on Monday, BlockFi announced it’s filing for bankruptcy to help “stabilize its business.”
Read Article >The bankruptcy filing submitted in New Jersey lists Ankura Trust Company as its largest creditor, to the tune of $729 million, followed by FTX US at $275 million. The SEC is fourth on the list, owed $30 million as a result of penalties laid down earlier this year.
Nov 28, 2022
A crypto exchange agrees to pay $360,000 for possibly violating Iran sanctions
Cryptocurrency exchange Kraken has agreed to pay $362,158.70 to settle with the Department of the Treasury over claims that the firm violated US sanctions against Iran. Kraken, which lets users buy, sell, hold, and trade cryptocurrency, is also required to invest an extra $100,000 in certain sanctions compliance controls.
Read Article >As noted in the details of the settlement, Kraken allegedly processed 826 transactions totaling over $1.68 million on behalf of customers who may have been located in Iran. The Department of the Treasury says the apparent violations took place between October 14th, 2015, and June 29th, 2019, and were “non-egregious and voluntarily self-disclosed.”
Nov 28, 2022
Here we go again.Nintendo will debut the second trailer for The Super Mario Bros. Movie on Tuesday at 5PM ET / 2PM ET. Alongside the announcement, Nintendo also shared a first look at what appears to be the inside of Princess Peach’s castle. You can hang out in the YouTube waiting room right now.
I’m hoping the trailer features as little of Chris Pratt’s boring Mario voice as possible and instead focuses on Jack Black’s Bowser.
Nov 28, 2022
Elon Musk says Apple has ‘threatened to withhold Twitter’ from the App Store
Elon Musk claims that Apple has threatened to “withhold” Twitter from the iOS App Store for unknown reasons. The news follows a tweet where Musk said Apple had “mostly stopped advertising” on the platform and a poll asking whether Apple should “publish all censorship actions it has taken that affect its customers.” Apple did not immediately comment on Musk’s claim.
Read Article >The news follows much more subtle signs of mounting tension between Apple and Musk-owned Twitter. Musk has criticized Apple’s App Store fee for in-app purchases, dubbing it a “hidden 30% tax” on the internet. And Apple App Store boss Phil Schiller deleted his Twitter account following Musk’s takeover, shortly after Donald Trump’s account was reinstated.