The Daily LEO #102 | Elon Musk Twitter Trial Delayed, BNB Chain Paused, & Hive

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Welcome to this edition of The Daily LEO! We pull the best articles in Finances, Crypto news and Hive/Leo into one condensed information packed space.

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Judge Delays Musk-Twitter Trial In Win For Tesla CEO

After offering to buy Twitter for $44 billion back in April, Elon Musk was attempting to back out of the deal. Delaware Chancery Court Judge Kathaleen St. Jude McCormick said that Elon Musk has until October 28th to close the promised deal or face trial in November. The trial was originally set for October 17th, and on Thursday, Musk motioned to pause litigation in light of his decision to...

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Labor Market Shakes As Job Cuts Surge And Unemployment Claims Unexpectedly Rise

Job cuts surged in September and unemployment claims soared as the labor market cools down as a result of the Federal Reserve's interest rate hikes. U.S. employers reported nearly 30,000 job cuts in September, up nearly 68% from last year. Hiring intentions, which measures the amount of jobs employers intend to add fell to their lowest since 2011. Another sign that the labor market is cooling off is that jobless claims have increased nearly...

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BNB Chain Halted Following Cross-Chain Bridge Exploit

BNB Chain was paused on October 6th due to an exploit in the Binance Cross-Chain Bridge that saw losses of $100 million. The attacker(s) was able to exploit a bug in the BNB Token Hub bridge to mint 2 million BNB before the chain was paused. The stolen BNB was quickly moved to different blockchains such as Ethereum, Fantom, and Polygon before the validators were able to pause the chain. The attacker(s) has $400 million frozen on BNB chain with more possibly stuck...

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EU regulators ban cross-border payments from Russian crypto accounts

On October 6th, regulators in the European Union banned cross-border transactions from Russian cryptocurrency wallets. This new sanction includes “all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet.” Previous sanctions capped transfers at 10,000 Euros, and are now a total ban of all transactions. The decision aligned with the Central Bank of Russia's agreement to legalize...

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Hive Is Already Building Elon Musk's Everything App

With his upcoming acquisition of Twitter, Elon Musk is planning to turn it into an "Everything App", combining micro-blogging with payments and the ability to order products. Hive has already been building this for quite some time, and the concept is nothing new. The ever-expanding Hiv eexosystem consists of social apps, games, decentralized financed, and much more, all with one single account. The major difference between Musk's "Everything App" and Hive is that the data is...

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Is Hive censorship-resistant?

The Hive blockchain is extremely censorship-resistant, giving Hive account holders a level of freedom of speech unmatched by any other platform. That being said, the different front ends and apps built on top of the blockchain aren't necessary censorship free. The Hive ecosystem is incredibly diverse and offers users censorship resistance while allowing different front-ends the ability to...

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