Elon Musk has stated that he is willing to lose money in order to speak his mind, following the Tesla shareholder meeting in May 2023. However, experts believe that the recent rebranding of Twitter to X is solely for Musk's ego, and could be counterproductive for the social media company. While the Dogecoin price has risen since Musk announced the rebranding plans, brand experts believe the renaming exercise could eventually affect Tesla stock as well. Despite Twitter's transformation into a global marketplace, Musk faces the challenge of recovering the platform's advertising revenue, which has dropped by over 50% since October 2022.
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Elon Musk's Twitter Rebranding Could Hurt Twitter's Value, Experts Say
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Vitalik: In my opinion, all rollups will be ZK in 10 years
Vitalik Buterin, co-founder of Ethereum, stated on social media that in my opinion, all rollups will be ZK in 10 years, and will submit blocks with final state roots to each slot of L1. To achieve this goal, a lot of infrastructure and validator optimization is needed, but this is clearly the ultimate goal. -
Chairman of the Hong Kong Institute of International Finance: Using Hong Kong's digital financial infrastructure to explore the RMB-pegged "Greater Bay Area Stablecoin"
Professor Xiao Geng, Chairman of the Hong Kong International Finance Association, Professor of the Advanced Finance Research Institute of the Chinese University of Hong Kong (Shenzhen), and Director of the Policy and Practice Research Institute, stated that Hong Kong has always been a testing ground for cutting-edge financial innovation, with a good tradition of innovation, a good system for implementing experiments, and a good market foundation. Creating a stablecoin linked to the renminbi based on stablecoins, limited memory blockchains, and digital smart contracts can consolidate and enhance Hong Kong's status as an international financial center. -
Fed's Mester: Expectation of three rate cuts this year is no longer appropriate
Cleveland Fed President Mester said on Monday that she believes the Fed's monetary policy is restrictive and that inflation will fall back towards the Fed's 2% target, but not quickly. Mester previously believed that the Fed could cut interest rates three times this year, but "based on the economic developments I currently see, I think this is no longer appropriate," she said. "Given the stagnation of first-quarter inflation progress and the rising inflation risk, frankly, the actual situation is stronger than I expected." -
Cointime's Evening Highlights for May 24th
1. CryptoPunks Launches “Super Punk World” Digital Avatar Series -
Pudgy Penguins and Lotte strategically cooperate to expand into the Korean market, and the floor price rose by 3.1% on the 7th
The NFT series "Pudgy Penguins" has recently announced a strategic partnership with South Korean retail and entertainment giant Lotte Group on the X platform to expand its market in South Korea and surrounding areas. More information will be announced in the future. According to CoinGecko data, the floor price of Pudgy Penguins is currently 11.8 ETH, with a 7-day increase of 3.1%. -
CryptoPunks Launches “Super Punk World” Digital Avatar Series
Blue-chip NFT project CryptoPunks announced the launch of "Super Punk World" on X platform, which is the project's first release of 500 digital avatars inspired by the iconic CryptoPunks features and combined with Super Cool World attributes. It is reported that the series may launch auctions in the future, and more details about the collection and auction of this series will be announced soon. -
Drift Foundation: The governance mechanism is gradually being improved, and DRIFT is one of the components
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U.S. senators propose spending $32 billion to develop AI and build safeguards around it
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CryptoQuant: Bitcoin demand is now in acceleration mode again after two months of decline
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Fed's Schmid: Low interest rate environment "may not necessarily" return
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