Musk’s purchase of Twitter will proceed at the initial $44B price

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We have brought together the past week’s most exciting events in this Good Crypto digest. If you want to get these updates as soon as we post them, follow us on Twitter or Telegram.

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Members of the European Parliament vote in support of tax laws for cryptocurrencies and blockchains

MEP Lidia Pereira initially wrote the resolution, and according to a notification from the European Parliament dated October 4, 566 of its 705 members voted to support it. According to the legislative body, the resolution recommended that national tax administrations use blockchain technology “to facilitate efficient tax collection” and that authorities in its 27 member states consider a “simplified tax treatment” for cryptocurrency users who engage in irregular or small transactions.

The resolution stated that it was a “more appropriate choice” to ask the European Commission to determine whether converting cryptocurrencies to fiat would be a taxable event based on the location of the transaction. Additionally, the policy will ask for an administrative adjustment to improve information exchange about cryptocurrency taxation.

The resolution further said that member states of the parliament might use blockchain technologies in their taxation policies.

It appears like Musk’s purchase of Twitter will proceed at the initial $44B price

Elon Musk, the billionaire CEO of Tesla, is likely to finalize his $44 billion purchase of Twitter, spam bots, bogus accounts, and all the trimmings.

The Delaware Chancery Court, in charge of the trial, received a notification from Musk’s attorneys on Monday stating that Musk is prepared to “proceed to the closing of the transaction contemplated by the April 25, 2022 Merger Agreement.”

It came just weeks before a court date to settle the case on October 17 that was drawing near. After several months of legal drama with the social media platform, Musk tried to back out of the deal, citing Twitter’s lack of transparency around spam bots, fake accounts, and the business’s financial health.

The agreement offered by Musk is contingent on “an immediate stay of the action,” a postponement of the trial, and the arrival of money.

Twitter said in a tweet on October 4 that they intended to conclude the transaction at $54.20 per share, showing that they were ready to accept the conditions of the agreement.

Uncertainty surrounds what caused Musk’s change of heart, but the creator of SpaceX and Telsa has already hinted at his intentions for the platform whenever he purchases it. Musk has not yet revealed what the envisioned multipurpose X app is, other than the cryptic message. However, in a subsequent tweet on October 4, he did say, “Twitter probably accelerates X by 3 to 5 years, but I could be wrong.”

Daniel Leon, a co-founder of Celsius, leaves after Mashinsky

CNBC reported on October 4 that S. Daniel Leon, who cofounded Celsius with Alex Mashinsky in 2017, has left his position as the insolvent cryptocurrency lender’s chief strategy officer, citing anonymous sources and an internal document that the outlet has access to. Later, according to Bloomberg, the resignation of Leon from the corporation was confirmed. One week after Mashinsky’s resignation, Leon’s is a continuation of what appears to be a developing pattern.

On July 13, a month after suspending withdrawals and while being investigated by six American states, Celsius filed for bankruptcy. According to reports, the business owed $1.9 billion when it filed for bankruptcy. On September 27, Mashinsky announced his resignation, saying, “I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing.” His financial transactions and management of the company’s final days of solvency came under close examination.

CEO of Coinbase will release a documentary about cryptocurrencies and trading

Brian Armstrong, the co-founder, and CEO of Coinbase said in a series of tweets on October 4 that a crypto-focused documentary following his path of creating a digital firm from scratch will be released this Friday on Amazon Prime, iTunes, YouTube, and other streaming services. 

The goal of the documentary Coin: A Founder’s Story is to lift the curtain and demonstrate what it truly takes to create from the bottom up in order to inspire others to follow in the same footsteps.

The CEO claims that Greg Kohs, the documentary filmmaker, and his crew had “unprecedented access” to Armstrong’s firm and were able to chronicle its wild ups and downs during the previous three years. According to the statement, the documentary will show “the good, bad, and ugly” of creating a tech firm from scratch and taking it public.

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