Here’s the note Reddit sent to moderators threatening them if they don’t reopen
Reddit has sent messages to moderators of some major subreddits, including r/funny and r/aww, threatening them with removal if they do not reopen their communities. The move comes after more than 8,000 subreddits went dark in protest against API changes. Reddit CEO Steve Huffman said that the company had no problem with protests and planned to make it easier for regular users to vote out moderators. More than 4,000 subreddits remain closed.
Legal & General bets on outsider to tackle Brexit valuation gap
June 16 (Cointime) - Legal & General, a $17 billion insurer in the UK, has appointed António Simões, the regional head of Europe at Banco Santander, as its new CEO to offset a valuation discount against non-UK rivals. Simões, who lacks experience in the insurance industry, may be seen as a wildcard, but he could accelerate L&G's push into the United States, particularly in asset management. The British insurer trades at nearly 7 times its earnings for the next 12 months, a 25% discount to the average 9 times multiple for European rivals including Zurich, Allianz, and Assicurazioni Generali. The arrival of Simões will cost L&G 1.175 million pounds in annual basic salary, 9% more than the outgoing CEO Nigel Wilson's base pay.
Insurtech Startup Breach Raises Funding To Launch Bermuda Insurance Carrier for Cryptocurrency Market
Insurtech startup Breach, based in Boston, has secured an undisclosed amount of funding in a round led by RW3 and LightShed Ventures, with participation from several other investors.
Binance CEO Denies Selling Bitcoin Amid Legal Dispute With SEC
Changpeng Zhao, the CEO of Binance, has denied rumors on social media that the crypto exchange has been selling bitcoin. He stated on Twitter that Binance has not sold BTC or BNB and still holds a bag of FTT.
Ava Labs CEO to Urge US Officials to Support Responsible Blockchain Innovation
Ava Labs CEO Emin Gün Sirer will testify before the U.S. House Financial Services Committee on June 13, calling for officials to support responsible blockchain innovation and warning of "disastrous consequences" if they don't. He believes that blockchain technology can transform society by making digital services more efficient, reliable, and accessible to all.
New Twitter CEO Linda Yaccarino Shares Reason for Taking Up the Appointment
New Twitter CEO Linda Yaccarino has explained why she took on the role in a Twitter thread and memo to employees. Yaccarino, formerly an advertising executive at NBCUniversal, said that Twitter, which she referred to as the "global town square", needed transformation.
Brian Armstrong Says Coinbase Staying in US Despite Regulatory Pressure
Coinbase CEO Brian Armstrong has stated that his crypto exchange will remain committed to the United States despite regulatory pressure. In an interview with the Wall Street Journal, Armstrong expressed confidence that the crypto industry will achieve the "right outcome" in its battle with regulators.
Binance CEO CZ Dismisses Twitter "Insiders" Narratives on Altcoin Sell-Off
Binance CEO Changpeng "CZ" Zhao has criticized the various narratives circulating on Twitter about the reasons for the recent sell-off in altcoins, warning against trusting "insiders" who claim to know the true reasons for the market downturn.
OpenAI CEO backs China to lead AI regulations
OpenAI CEO Sam Altman has stated that China should take a leading role in shaping the regulations around artificial intelligence (AI) to ensure the safety of new systems.
SEC Asks Court To Allow ‘Alternative Means’ of Serving Documents on Binance and CEO as CEO Hides His Whereabouts
The U.S. Securities and Exchange Commission (SEC) is asking a court to allow "alternative means" of serving documents on cryptocurrency exchange Binance and its CEO Changpeng Zhao, as the executive is "known for protecting his whereabouts." The SEC on Monday sued Binance and Zhao for violating securities laws and asked the District Court for the District of Columbia to allow it to serve any legal documents during the investigation leading to the legal case by sending copies of the documents to attorneys representing the parties. The move hits the heart of the struggling crypto industry, with the SEC's regulatory web now covering $120 billion in cryptocurrencies following the actions by Coinbase and Binance.
