Hey Waivly Crew! 🌊 Elon Musk has scrapped Twitter's work from home policy and ordered employees to return to the office. BlockFi has paused client withdrawals due to a “lack of clarity” around FTX's current situation. Want more from us at Waivly? Join Waivly+, the premium Waivly membership with exclusive content, resources, giveaways, events, and so much more, all blended together into one super low-cost and quick to join subscription 🎉 Head over to our website and hit “Subscribe” to get onboard! Elon Musk bans remote work at Twitter
Twitter’s new owner, Elon Musk, has banned employees from working remotely unless he gives permission otherwise. During his first mass call with employees on Thursday evening, Musk stated the policy change would go into effect immediately and require employees to spend 40 hours a week in the office. “Let me be crystal clear. If people do not return to the office when they are able to return to the office, they cannot remain at the company. End of story. Basically, if you can show up in an office and you do not show up at the office: resignation accepted. End of story,” he said. Twitter’s former CEO and co-founder Jack Dorsey, announced that staff could work at home “forever” in the early months of the pandemic back in May 2020. Musk also raised the possibility of the social media platform going bankrupt if it is unable to boost subscription revenue to offset falling advertising income. “We just definitely need to bring in more cash than we spend. If we don’t do that and there’s a massive negative cash flow, then bankruptcy is not out of the question. That is a priority. We can’t scale to 1 billion users and take massive losses along the way. That’s not feasible. I don’t think we will,” he stated. This came hours after several key executives chose to resign after just two weeks under Musk’s leadership, including Yoel Roth, the company’s head of trust and safety, and Robin Wheeler, vice president of US client solutions. Join The Waivly Discord
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Crypto lending service BlockFi has announced that it will suspend services in response to FTX’s ongoing collapse. The company said in a tweet that the “lack of clarity on the status of FTX.com, FTX US, and Alameda” has prevented it from being able to operate as usual. As a result, BlockFi has limited platform activity, including client withdrawals. The firm also asked users to not deposit to BlockFi wallets or interest accounts at this point in time. "We will share more specifics as soon as possible," the company said. "We intend to communicate as frequently as possible but anticipate that this will be less frequent than what our clients and other shareholders are used to." This comes only days after BlockFi CEO Flori Marquez tweeted that "all BlockFi products are fully operational," saying it was an independent entity until next July. In July, BlockFi received a $400 million line of credit from FTX US, a separate company from the one embroiled in a liquidity crunch. The deal gave Sam Bankman-Fried’s exchange the option to acquire BlockFi for a variable price of up to $240 million. CoinShares discloses $30.3 million exposure to FTX
CoineShares, Europe's largest digital asset investment firm, has $30.3 million worth of exposure to collapsing crypto exchange FTX. In s statement, CoinShares disclosed its exposure to FTX includes 190 Bitcoin ($3.1 million) and 1,000 Ethereum ($1.3 million) in pending withdrawal requests, which were sent before FTX halted customer withdrawals on Tuesday. CoinShares also has an additional $25.9 million of USD and USDC locked up in FTX, as well as about $110,000 worth of other assets, according to the release. "The financial health of the Group remains strong," said CoinShares CEO, Jean Marie Mognetti, adding that its net asset value on September 30th, 2022 was £240.6 million ($279.10 million). Start living a healthy life with Noom
Noom is a digital health platform that allows you to better understand yourself, your brain, and the science of choice. Noomers lose an average of 15 pounds in 16 weeks, and also celebrate non-scale victories – join them and change your life today. Share The WaveThat wraps up today's Waivly edition. Thank you for reading through and we hope you liked today's content. Do you know someone else who would like Waivly just as much as you do? Send them to our website and get them onboard the Waivly Crew so they can enjoy daily Waivly editions too! Get more from us on Twitter, Instagram, and TikTok. ㅤ Want more from us at Waivly? Join Waivly+, the premium Waivly membership with exclusive content, resources, giveaways, events, and so much more, all blended together into one super low-cost and quick to join subscription 🎉 Head over to our website and hit “Subscribe” to get onboard!
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