Elon Musk Buys Stake in Twitter and Off-White™ Accepts Cryptocurrency in This Week’s Business and Crypto Roundup

While HYPEBEAST will be publicly traded on NASDAQ through a SPAC merger with Iron Spark.

Tech & Gadgets 
2,619 Hypes 3 Comments

You are reading your free article for this month.
Members-only

Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before.

HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in the know about trends across industries.

Business

1. Elon Musk purchased a majority stake in Twitter

The purchase of a 9.2% stake is valued at around $2.89 billion USD, and gives Musk more than four times as many shares as Twitter founder Jack Dorsey. The Tesla CEO has also been appointed to Twitter’s board of directors.

2. Uber is planning to transform into a “Superapp”

The rideshare company hopes to expand its service offerings to trains, buses, plans as well as car rentals, starting with the U.K. later this year. Uber will not be providing these services but will allow people to use the app to book.

3. Meta is skipping its annual F8 developers conference

It said its focus remains on building out the metaverse, hoping to make more progress before hosting another F8 event. There will instead be an inaugural business messaging event on May 19 called Conversations as well as a Connect event.

4. Apple’s WWDC 2022 will be a digital-only event

Slated to run from June 6-10, the conference will “showcase the latest innovations in iOS, iPadOS, macOS, watchOS, and tvOS.” A select group of developers and students will also be able to visit Apple Park on June 6 to watch the keynote and State of the Union videos together.

5. HYPEBEAST will be publicly traded on NASDAQ through a SPAC merger with Iron Spark

The SPAC deal is anchored by private investment in public equity from figures like Tom Brady, Naomi Osaka, Kevin Durant, Rich Kleiman, Tony Hawk, Joe Gebbia, Jonah Hill, Adam Levine, and more. Since 2016, HYPEBEAST has been listed on the Hong Kong Stock Exchange under the stock code 0150.HK, and is expected to be dual-listed on NASDAQ under the ticker symbol $HYPE in the third quarter of 2022.

 

View this post on Instagram

 

A post shared by Hypebeast Corporate (@hypebeastcorp)

Crypto

1. Off-White™ is now accepting cryptocurrency payments 

According to Vogue Business, customers will be given the option to trade Bitcoin, Ethereum, Binance Coin, Ripple, and Tether and USD Coin for all Off-White™ products. The new payment system applies to its flagship stores in London, Paris and Milan.

2. Coachella and FTX are giving away free NFTs to 2022 ticket holders

The Bloom NFT will allow festival-goers to unlock exclusive on-sie perks throughout the weekends. On the Friday morning of each festival weekend, NFT holders will see their seed NFT blossom into one of the seven desert flowers.

3. Binance CEO Changpeng Zhao has been named the wealthiest person in crypto by Forbes

The most recent Forbes billionaire report cites his net worth at $65 billion USD. Binance has an estimated valuation of $92.5 billion USD, with CZ’s stake likely at 70% or more.

4. LEGO and Epic Games are creating a kid-friendly space in the metaverse

The partnership aims to shape the future of the metaverse and combine elements of the creative physical and digital world. Epic Games CEO Tim Sweeney said the project aims to reshape “how people meet, play, work, learn and interact in a virtual, 3D world.”

5. Tiffany & Co.’s VP Alexandre Arnault converted his CryptoPunk into a pendant

Arnault revealed a rose gold and enamel CryptoPunk necklace designed by Tiffany & Co. He took to Twitter to showcase the piece, which is designed after his PFP.

Read Full Article

What to Read Next

Would You Pay $84,000 USD for an Automatic MKIV Toyota Supra With 86K Miles?
Automotive

Would You Pay $84,000 USD for an Automatic MKIV Toyota Supra With 86K Miles?

It is a 15th-anniversary model though.

A Mysterious Pair of New Balance 2002Rs With Tech Pockets Appears
Footwear

A Mysterious Pair of New Balance 2002Rs With Tech Pockets Appears

Set for an April 21 release date.

Pristine Lexus LFA With Just 850 Miles Hits the Auction Block
Automotive

Pristine Lexus LFA With Just 850 Miles Hits the Auction Block

Will it smash the $1M USD mark?

COMME des GARÇONS HOMME and New Balance Present the CT300 "Black"
Footwear

COMME des GARÇONS HOMME and New Balance Present the CT300 "Black"

Making a case for less is more.

S.S.DALEY Heads to the British Countryside for SS22 Campaign
Fashion 

S.S.DALEY Heads to the British Countryside for SS22 Campaign

Enlisting a small rural community of generational farmers to model the Harry Lambert-styled collection.


Dover Street Market Teases New Balance 991 Collaboration
Footwear

Dover Street Market Teases New Balance 991 Collaboration

Set to arrive soon at all DSM locations and online.

Unknown Is the Next London-Based Brand to Put on Your Radar
Fashion 

Unknown Is the Next London-Based Brand to Put on Your Radar

Spring 2022 promises ’90s rhinestoned garms, a U.K. tour, and more sell-out drops.

Saint Laurent Rive Droite's $1,300 USD Baghera Rider Oozes Old Hollywood Glamor
Design

Saint Laurent Rive Droite's $1,300 USD Baghera Rider Oozes Old Hollywood Glamor

Bring out your inner kid.

Tyga Delivers Contemplative "Lifetime" Music Video
Music

Tyga Delivers Contemplative "Lifetime" Music Video

“Can I be with one soul for a lifetime?” he asks on the track.

Academy Bans Will Smith From Attending Oscars for 10 Years
Entertainment

Academy Bans Will Smith From Attending Oscars for 10 Years

“I accept and respect the Academy’s decision,” the actor responded.

More ▾
 
We got you covered. Don’t miss out on the latest news by signing up for our newsletters.

By subscribing, you agree to our Terms of Use and Privacy Policy.