🐦 Elon Musk names new Twitter CEO
Former NBCUniversal exe, Linda Yaccarino
Hey Waivly Crew! 🌊 Elon Musk has named a new chief executive of Twitter. Binance said it will exit Canada after the country moved to impose new regulations on crypto exchanges.
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Binance announces exit from Canada
Binance, the world’s largest crypto exchange by trading volume, announced on Friday that it is “proactively withdrawing from the Canadian market.”
“We had high hopes for the rest of the Canadian blockchain industry,” Binance wrote in a tweet. “Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time.”
In February, the Canadian Securities Administrators (CSA) issued new guidance that prohibited crypto asset trading platforms within the country from allowing users to buy or deposit stablecoins without the CSA’s prior approval.
In its tweet, Binance added that it did not agree with the new regulations but still hopes to work with Canadian regulators to further develop a regulatory framework around cryptocurrencies.
“We are confident that we will someday return to the market when Canadian users once again have the freedom to access a broader suite of digital assets,” said the exchange, founded by Canadian national Changpeng Zhao.
Binance joins a long list of crypto companies that have chosen to leave Canada due to its regulatory environment, including OKX, Paxos, and dYdX.
Elon Musk names Linda Yaccarino as new Twitter CEO
Elon Musk officially announced Linda Yaccarino, formerly NBCUniversal’s head of advertising, will take the helm as Twitter’s new CEO.
“I am excited to welcome Linda Yaccarino as the new CEO of Twitter!” Musk tweeted Friday. “@LindaYacc will focus primarily on business operations, while I focus on product design & new technology. Looking forward to working with Linda to transform this platform into X, the everything app.”
Yaccarino is expected to join Twitter by the end of June. Musk will assume the role of Twitter's executive chair and chief technology officer, “overseeing product, software, and sysops [systems operations]”.
Yaccarino, who had worked at NBCU since 2011, will be tasked with rebuilding Twitter’s advertising business — which Musk claimed had dropped by nearly 50% after he closed the $44 billion takeover in October.
The announcement came a day after Musk announced he’d hired a new CEO, but didn’t name her. Reports soon surfaced that Yaccarino was in talks to take on the role.
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MakerDAO publishes 5-phase roadmap for “Endgame”
MakerDAO, the decentralized platform behind the DAI stablecoin, has published a five-phase roadmap for a major update called "Endgame."
The plan's short-term goal is to become the most widely-used stablecoin project within three years, per a forum post by MakerDAO co-founder Rune Christensen.
As a first step, a beta launch set to arrive within several months will focus on "establishing a new unified brand for the ecosystem."
While the Dai stablecoin and Maker governance token will not be altered, an upgrade to new versions currently being referred to as NewStable” and “NewGovToken” will be possible.
Following the beta, a second phase will see the launch of six "Maker SubDAOs" that will function as "born-decentralized, specialized divisions within MakerDAO."
A third phase will see the introduction of AI tools for governance monitoring and improvement, while a fourth phase will launch an incentive program for ecosystem participants.
The final phase will see the deployment of a new proprietary blockchain, named "NewChain." Rather than replacing the Ethereum blockchain, which currently underpins the MakerDAO platform, NewChain will be bridged.
According to Christensen, “This means that on Ethereum, NewStable, and NewGovToken, as well as Dai and MKR, will continue to function as normal, and the only change will be that they will be protected by a governance backend that operates through a secure, state of the art bridge.”
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