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Pressure Mounts To Remove Jack As Twitter CEO
Billionaire investor, Paul Singer, is pushing for the removal of Jack Dorsey as CEO of Twitter. The Elliott Management founder and activist investor is concerned about Dorsey’s time being split between two $5 billion-plus companies, and his desire to move to Africa. Dorsey has previously faced criticism for his role as CEO of two publicly listed companies; Twitter and Square, both of which have market valuations of over $5 billion. Singer is also concerned about Dorsey’s plan to work up to six months a year in Africa.
SEC Denies ETF Application From Another Firm
Wilshire Phoenix, a New York-based asset management firm, has responded to the United States Securities and Exchange Commission (SEC) rejecting its proposed Bitcoin (BTC) exchange-traded fund (ETF). The firm states it is “very disappointed” by the SEC’s ruling, emphasizing that it went to great lengths to ensure compliance with the SEC’s expectations.
Is Texas Going To Be The Future HUB of Mining?
Alex Liegl, the CEO of Layer1 Technologies, a US-based Bitcoin (BTC) mining company that recently announced its intention to repatriate 30% of Bitcoin’s hash power by 2022, has described Texas as offering miners the “cheapest power in the world, at scale.” Less than two weeks ago, Layer1 commenced mining operations at its facility in western Texas, bringing multiple 2.5-megawatt container rigs online.
A KYC Hack At A Firm Leads to 8,000 People’s Records Stolen
An ex-employee of cryptocurrency derivatives exchange Digitex began leaking stolen Know-Your-Customer (KYC) on Telegram. The stolen data reportedly includes passport and driving license scans and other sensitive documentation pertaining to more than 8,000 Digitex customers. The Seychelles-based exchange issued a statement indicating that it is not currently able to comment on the incident and is seeking legal counsel.
An Irish Drug Dealer Loses $59 Million In Bitcoin
An Irish drug dealer has lost ($59 million) in bitcoin after his landlord accidentally threw away a case containing the codes to access his wallets. According to a report by the Irish Times, 49-year-old Dubline amassed a fortune in bitcoin between 2011 and 2012 using funds obtained from growing and selling marijuana. Collins purchased more than 6,000 BTC, which was trading for less than $5 at the time.
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