From hashtags to $Cashtags 🤑

"Find a job you like and you add five days to every week."

— H. Jackson Brown, Jr.

👋 Friends, Rallie here. The newsletter that merges crypto, tech, and finance together so nice, you'll want to read it twice.

On the menu:

• 🤑 Twitter stock talk

• 👀 An FTX grand reopening?

• 🗞️ Headlines that hit

• 💯 Top tweets

The Rallie Recap

🤑 From hashtags to $Cashtags: Twitter partners with eToro for its first big expansion into finance.

• This morning, Twitter announced that it will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company.

• Twitter added pricing data for $Cashtags in December 2022 and the feature has boomed with over 420M searches for $Cashtags since the start of the year. 

• After the eToro partnership, the list of $Cashtags that produce live price charts will be “hugely expanded,” according to a press release, while users will also be able to use the eToro platform to see market charts and trade stocks, along with a range of other financial instruments.

• The partnership is a big business deal for Twitter since its new CEO, Elon Musk, took over last year in the $44B USD acquisition.

• Musk has made it his mission to turn Twitter into a “super app" that offers users a range of services such as instant messaging, banking, and travel. 

• And notably, earlier this week, Twitter changed its incorporated name to X Corp. with the announcement being made by Musk himself, simply tweeting "X" ...pointing to an obscurely located filing.

• Yoni Assia, the CEO of eToro, said that “Fintwit,” or financial twitter, has become a popular trend on the app, which many people use to find breaking news and updates on stocks and other assets — including us, we love Fintwit here!

📉 Unfortunately, eToro is not available in Canada so TBD when all the fancy financial functions will cross Twitter's northern border.

👀 Six months after its catastrophic collapse, crypto exchange FTX is considering reopening its digital doors.

• This week, news broke that failed crypto exchange, FTX, has recovered over $7B USD in cash and crypto assets and might be restarting operations soon. The recovered funds mark an increase of more than $800M USD found since January alone.

• According to comments made by FTX attorney Andy Dietderich at a recent bankruptcy court hearing, "The situation has stabilized, and the dumpster fire is out." Yep, he really said that.

• FTX's legal team also said that the exchange is starting to consider its future while they continue to work on determining why the company failed under the leadership of Sam Bankman-Fried (who's still facing multiple criminal charges btw).

• The news sent FTX's FTT token skyrocketing, as it more than doubled to $2.74 USD from $1.32 USD on the reports of a potential reopening.

We'll file this under: It's 2023 so anything is possible.

Headlines That Hit

• 🤔 The Oracle of Omaha, Warren Buffett, thinks there could be more bank failures down the road, but depositors shouldn't be worried.

• 🚗 Watch out, Uber. Robo-taxis are hittin' the streets. Chinese ride-hailing giant DiDi has plans to roll out driverless taxis in 2025.

• 🎵 LimeWire, remember them?The nostalgic peer-to-peer music-file-sharing service has been resurrected in Web3 as a quirky music downloading game.

• 📈 Move over, Bitcoin. It's Ether's time to shine. Ether hits an eight-month high, surpassing $2K USD after a successful network upgrade called Shanghai.

Trending Tweets

Our fav funnies to get you through the day.

Congrats, you made it to the end!

That's all for today. Stay hungry & we'll catch you next time. ✌️

DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.