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Collapse of FTX could cause crypto chain reaction

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The crypto world was dealt a major blow this week as FTX, one of the largest cryptocurrency exchanges, filed for Chapter 11 bankruptcy protection.

This followed a massive sell-off of the company’s native token, FTT, which lost over 80 percent of its value.

FTX’s collapse could have far-reaching implications for the entire crypto industry, according to Ran Neuner, Host and Founder of Crypto Banter.

The Impact of FTX’s Collapse

Neuner said that the collapse of FTX could lead to a loss of trust in the crypto industry as a whole.

“There is a rumour in the industry, and I can’t confirm it because I haven’t seen the papers but it comes from a reliable source, that BlockFi… had a loan to FTX collateralized by FTT,” said Neuner. “FTT is now worth zero and FTX can’t repay the loan.”

“We’ve had a cascade of failures [in the crypto industry],” he continued. “The centralized players seem to have a systematic failure because of greed, because of over-leverage, and stuff like that.”

These speculations have caused some serious concerns about the safety of cryptocurrencies held in coin exchanges.

When asked which exchanges are safe, Neuner said, “Right now, we don’t know.”

This lack of certainty is troubling for many people who have invested their money in cryptocurrencies.

If exchanges are not safe, then there is a very real risk that people could lose their hard-earned money.

The situation is made even more worrisome by the fact that there is no governing body regulating these exchanges.

This means that if something goes wrong, there is no one to turn to for help.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Did the Simpsons predict Musk’s Twitter takeover?

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New Twitter boss Elon Musk claims The Simpsons predicted his takeover years ago

Elon Musk has alluded to the fact that The Simpsons predicted his takeover of Twitter in a 2015 episode.

The episode titled “The Musk who fell to Earth” showcases Lisa Simpson feeding birds in a letter box with the label “Home Tweet Home.”

During the episode, Musk flies in on his rocket ship before meeting the Simpsons family.

Before Musk leaves, the show throws to the bird house. Lisa Simpson then says “I guess humanity wants its change one bird house at a time.”

Fans of the series have been quick to jump on its so-called prediction capabilities. They often draw parallels between the episodes and monumental events in history.

Lovers of the show are convinced it predicted Donald Trump’s Presidential run, Disney’s purchase of Fox and the 9/11 attacks.

More recently, they’re certain the show predicted England and America’s 2022 World Cup match in an 1997 episode.

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British lawmakers want to fine social media

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Social media companies could be fined if they don’t remove harmful content, according to a new plan from the UK Government

Lawmakers want to make it illegal to encourage users to harm themselves online.

It’s part of a crackdown on online behaviour on content that leads to self harm.

In a statement, Digital Secretary Michelle Donelan said these firms “can no longer remain silent bystanders”.

She says they’ll face fines for allowing this abusive and destructive behaviour to continue on their platforms.”

It follows the death of Molly Russell in 20-17, which sparked concern for harmful content online.

A coroner ruled social media platforms fed her content that “romanticised acts of self-harm”.

Sexually explicit materials will also be banned under the new policy.

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Twitter adds millions of users after cutting staff

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elon musk twitter

Twitter boss Elon Musk says new user signups to the social media platform are at an “all-time high”.

That’s despite his recent struggles with a mass exodus of advertisers and users fleeing to other platforms.

Musk says signups to Twitter are averaging over two million per day over the past week.

Reported impersonations on the platform spiked earlier this month, before and in wake of the Twitter Blue launch.

Musk says buying Twitter will speed up his ambition to create an “everything app” called X.

Musk’s “Twitter 2.0 The Everything App” will have features like encrypted DMs, longform tweets and payments.

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