HIGHLIGHTS

Twitter Inc. is no longer a company, as per a recent report.

The new development happened after Twitter’s merger with X Corp.

It was revealed by Twitter Inc.’s court filing on April 4.

Twitter Inc. is no longer a company, according to the latest report. In a court filing by the Elon Musk-owned company, it was revealed that Twitter no longer exists as a company and has been completely merged into Elon Musk’s X Corp. This development comes amid the avalanche of lawsuits filed against the micro-blogging platform. Now, since Twitter no longer exists as a company, X Corp will be the defendant in the ongoing lawsuits. Here’s all you need to know.

Twitter No Longer a Company After Its Merger With X Corp

A bit of backstory here, Elon Musk registered three separate companies called X Holdings I, X Holdings II, and X Holdings III in Delaware back in April 2022. X Holdings I was supposed to be the parent company of X Holding II and the Twitter merger, while X Holdings III was created to take on the $13 billion loan to facilitate the $44 billion purchase of Twitter. As per the report, the merger agreement between X Holdings II and Twitter stated that post-merger X Holdings II would not exist anymore. X Holdings I will continue to be the parent company, while X Holdings III will continue to deal with financials.

Musk then registered X Holdings Corp and X Corp in Nevada last month. He then merged these new businesses with X Holdings I and Twitter Inc. (X Holdings II ceased to exist post the Twitter Merger). This development was first reported by @SpacTrader110,

ironically on Twitter. This new merger filed by Musk states that Twitter Inc. will be fully merged with X Corp for all intent and purposes. On the same note, X Holdings I also ceases to exist post its merger with X Holdings Corp.

Now, structurally X Holdings Corp is the parent company of X Corp, which absorbed Twitter. Since the new companies were registered in Nevada, the entire base has shifted from Delaware to Nevada. Twitter has acknowledged this move in its court filing in the right-wing provocateur Laura Loomer lawsuit.

Notably, Loomer sued Twitter after her account was banned in 2019. Twitter must submit regular corporate disclosure statements to the court as a defendant. And this development has been included in its latest statement filed on April 4.

As of now, it’s unknown what will happen to the social media platform post this merger, as Elon Musk and the company have yet to make any public announcements. What do you think the future of Twitter holds? Let us know in the comments section below.

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Binance has announced that users participating in ETH 2.0 Staking will soon be able to redeem their BETH holdings for ETH on a 1:1 basis. The redemption will be available from 2023-04-19 08:00 (UTC) on the ETH 2.0 Staking page.

While the redemption process is a welcome move for Binance users, the exchange has cautioned that users cannot cancel their ETH withdrawal requests after submission. Additionally, it may take anywhere from 15 days to several weeks before users’ ETH withdrawal requests are fully processed due to the overall amount of ETH withdrawals requested by participants, as well as the Ethereum network’s processing limitations.

Binance has set a daily ETH redemption quota for each user due to processing limitations on the Ethereum network, and the daily quota is subject to change. The expected distribution date of redeemed ETH will be shown before users confirm their withdrawal requests, and users can refer to the most updated ETH distribution date at Staking History.

It’s important to note that the BETH tokens locked in pending ETH withdrawal requests will not generate any ETH 2.0 Staking rewards. Binance is also offering a promotion that allows users to sell BETH on the spot market and enjoy zero maker fees on the BETH/ETH and BETH/USDT spot trading pairs. The promotion will run until 2023-05-10 12:00 (UTC).

Binance’s announcement comes as ETH 2.0 Staking continues to gain popularity among cryptocurrency users. ETH 2.0 is the next generation of Ethereum, with a focus on improving scalability, security, and sustainability. Staking involves holding a certain amount of ETH as a validator on the Ethereum network, allowing users to earn rewards for helping to secure the network. Users can continue to participate in ETH 2.0 Staking at any time and earn BETH rewards.

#Binance #ETH #beth #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

All Chinese Coins Narrative Explained in simple words. Recently a new trend of Hong-kong coins appears in Crypto kingdom. Let's know about these coins in brief but short

CFX - Powering Instagram of China & developing BSIM

CKB - China's Public Blockchain chosen by BSN China

NKN - Tech is used by iQIYI & China Mobile

WIN - China's Board Blockchain, a giant in TRon Blockchain

IRIS - Cross Chain DeFi HUB

CTK - China's Security Blockchain

ONT - China's Identity Coin

ERN - NFT gaming. Invested by Tencent in its $244.5 million fund.

IMX - NFT layer 2. Invested by Tencent in its $244.5 million fund.

CTXC - China's Al Blockchain

MDT- Monetizing Data Coin from Hong Kong

COCOS - China's Gaming Blockchain

FIL - Chinese mining it

VET - China's Supply Chain Blockchain

VTHO - VET's shitcoin

WTC - China's IOT Blockchain

QLC - telecom coin, strong Chinese connection.

KEY - Identity coin used in Hong Kong

PHB - Rebranded 3 times. Now trying to be an Al project.

IOST - Used to be China Coin

NEO - Old dino China coin

✅ There'll Be MANY MORE . WHAT ARE U WAITING.

✅ I SAID April is opportunity. Want Early

✅ Every detail in my profile . Follow us for More

#eth2.0 #beth #shapella #dyor #cpi