Elon Musk has not directly addressed the results of a Twitter (TWTR) leadership poll that ended with users saying he should step down. But Musk did cast some doubt on the results indirectly and said Twitter would narrow who could vote in future polls.
A Twitter user posted on Monday that “Blue subscribers should be the only ones that can vote in policy related polls. We actually have skin in the game.” In response, the Tesla (TSLA) CEO and Twitter chief said: “Good point. Twitter will make that change.” Musk also replied with “interesting” to a tweet that suggested bots had dominated the poll yesterday where Musk asked if he should remain at the top spot of Twitter.
More than 10M users, or 57.5%, voted yes. Musk had said he would abide by the results of the poll. He had also said that Twitter would put major policy changes at the social media company up to a vote by users in the future.
Several analysts have called Monday’s developments a positive for Tesla’s (TSLA) stock, including Wedbush Securities analyst Dan Ives. The removal of the “major overhang” on Tesla’s stock is seen helping slow down or end any brand deterioration related to Musk. (20 comments)
Longer rates rose after the Bank of Japan unexpectedly widened its yield curve control, prompting a government debt selloff. The 10-year Treasury yield (US10Y) rose 8 basis points to 3.66% and the 30-year yield (US30Y) rose 10 basis points to 3.72%.
The BoJ boosted the leeway on the 10-year JGB yield to 0.5% from its target of 0%, up from the previous cap of 0.25%. The yen (FXY) surged 3.5% against the greenback.
Japan is changing policy because of inflation worries, strategist Jim Bianco tweeted, adding: “remind me why the Fed would be pivoting anytime in 2023?”. “The answer is they will not,” he said. “You can forget a pivot.”
Japan’s move is “widely seen as the beginning of a potential end to their ultra loose monetary policy,” Deutsche Bank’s Jim Reid said. “That policy has made them a big outlier compared to other central banks this year, having maintained rates at the zero lower bound whilst others embarked on their biggest tightening cycle in a generation.”
“Indeed, it’s important not to underestimate the impact this could have, because tighter BoJ policy would remove one of the last global anchors that’s helped to keep borrowing costs at low levels more broadly,” Reid added. (2 comments)
Sam Bankman-Fried, the co-founder of the crypto exchange of FTX and its ex-CEO, voluntarily agreed to his extradition to the U.S., where he’s charged with defrauding investors and clients, The Washington Post reported Monday, citing a person familiar with the matter.
The morning’s session in a Bahamian court had been a confusing one, as SBF’s local lawyer was unaware that his client was going to court that morning. Jerome Roberts, the lawyer, had been on his way to prison to speak with Bankman-Fried when he found out that his client was in court.
Magistrate Shaka Serville allowed Bankman-Fried to speak with his lawyers via phone and under supervision and continued his remand to Fox Hill prison, the Post said. SBF’s legal team is preparing legal documents and he is expected to return to court this week. Earlier in the day, Roberts told reporters that his client had agreed to the extradition despite “the strongest possible legal advice.” (8 comments)
Trump SPAC Digital World Acquisition (DWAC), which is taking Trump’s social media company and Truth Social app public, dropped 11% on Monday as a House committee recommended that the former President be prosecuted for his role in the Jan. 6 assault on the U.S. Capitol.
The committee voted unanimously Monday to refer the ex-president for prosecution related to multiple offenses including insurrection, according to media reports, including Bloomberg. The committee recommendation doesn’t require the Department of Justice to prosecute Trump and it has no formal legal impact.
The news comes after Digital World (DWAC) disclosed on Friday the SPAC’s chief financial officer and two board members have resigned in recent weeks. DWAC shares have plunged 82% since hitting highs in early March. (147 comments)
Be the first to comment