Top Stories of The Week
Michael Saylor posts fake quote from Trump on crypto to 3.6M followers
With the United States Election Day coming up and many voters already going to the polls, social media is rife with misinformation about candidates’ policies. MicroStrategy executive chair Michael Saylor seems to have fallen for a social media post containing misinformation about Donald Trump’s position on taxing crypto.
In an Oct. 30 post on X to his more than 3.6 million followers, Saylor attributed a quote to Trump in which he said crypto shouldn’t be taxed and that “Bitcoin is money.”
An investigation by Cointelegraph suggested that the fake quote originated from the X account Basedkarbon, which claimed in an Oct. 28 post that the Republican candidate made the remarks in “a recent interview.”
Kraken restructures with new co-CEO, layoffs reported
Cryptocurrency exchange Kraken has declared “a new day” with the appointment of new co-CEO Arjun Sethi and a managerial shakeup. There is also an unconfirmed report that 15% of the staff has been laid off.
Sethi is also the co-founder and chairman of Silicon Valley venture capital investor Tribe Capital and has been a member of the Kraken board since 2021. He will share the top position at Kraken with David Ripley.
In addition to disclosing Sethi’s appointment, Kraken announced upcoming fundamental changes on its blog on Oct. 30. “We need to be leaner and faster,” the firm said. Apparently, Kraken’s organizational structure is in for an overhaul. According to the blog:
“We fell into the trap of building organizational layers. We put managers in charge of the successes or failures of the groups they controlled, and we predicted success based on siloed P&Ls [profits and losses]. […] So, ‘managers’ are incentivized to do the wrong thing.”
Ex-FTX exec sentenced to time served after guilty plea
A federal judge has…
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