- 🖊️ __Policy…__ Yesterday the EU expanded its Russian sanctions. The target: crypto. Companies can [no longer](https://www.coindesk.com/policy/2022/10/06/eus-russian-crypto-ban-confirmed-as-bloc-tightens-sanctions/) offer crypto wallets, accounts, or custody services to either the Russian gov or people inside the country. 
- 🤹‍♀️ __Quirky…__ Crypto winter has given rise to 12K+ "[zombie coins](https://www.bloomberg.com/news/articles/2022-10-03/more-than-12-000-crypto-coins-become-zombies-in-digital-asset-slump)." These are tokens that haven't traded *at all* for a month — but because of their decentralized nature can still stumble on (mindlessly or not). 
- 🤔 __Sus…__ Bankrupt crypto lender Celsius shocked its 1.7M users after it froze their accounts (worth $8B) in June. But in May Celsius execs [withdrew](https://www.bloomberg.com/news/articles/2022-10-06/celsius-bosses-withdrew-30-million-in-crypto-before-bankruptcy) over $20M in crypto. Alex Mashinsky stepped down as CEO last month.

Blocked

The Crypto Catch-Up…

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__Texting “jack jack”...__ Elon’s pet name for __[Twitter](https://robinhood.com/stocks/TWTR/)__ founder Jack Dorsey. Last week, a trove of texts were made public ahead of the Elon v. Twitter trial — and pet names weren’t the [cringiest](https://techcrunch.com/2022/09/29/elon-musk-texts-discovery-twitter/) revelation in Elon’s messages. The latest season of the Elon-Twitter saga heated up this week, with some Emmy-worthy plot points: 

- __NVM:__ Elon told Twitter he'd buy the company at his original offer price of $54.20 per share, after aggressively trying to back out of the deal over what he said were spam-bot issues. Musk’s legal team reportedly likely lost confidence it could win.
- __Blue bird flies:__ Twitter shares have popped 15% since Tuesday, but are still lower than Elon’s offer price (many say he’s overpaying for the struggling company). 
- __Hot court date:__ Yesterday Musk [said](https://www.cnbc.com/2022/10/06/musk-seeks-to-stop-oct-17-trial-date-to-close-twitter-deal-on-original-terms.html) he wanted Twitter to call off existing litigation so that he could close the deal this month. Twitter seems to think Musk’s team is only trying to stall again. The trial was scheduled to start on October 17, but then…

__On the next episode…__ Late yesterday a Delaware judge [ruled](https://www.cnbc.com/2022/10/06/musk-seeks-to-stop-oct-17-trial-date-to-close-twitter-deal-on-original-terms.html) that Elon has until October 28 to seal this deal if he wants to avoid a trial. If the deal doesn’t close, the trial will be moved to November. Key deets still need to be hashed out, including debt financing. If those get resolved, the two sides could file a motion to end the lawsuit (which would save both parties a pricey headache).

Wishing for an acquisition edit button (Yasin Ozturk/Getty Images)

Finale

__It could be just the beginning…__ of Twitter’s A.E. (After Elon) era. If the deal closes, a new chapter begins for the internet’s “town square.” Musk, the self-proclaimed “free-speech absolutist,” wants to loosen moderation rules — including reinstating banned accounts like former President Trump’s. He’s also suggested that an open-source algorithm could address mysteries around how posts are promoted. While some are stoked about Elon’s nebulous plans, others (including many Twitter employees) are [concerned](https://time.com/6170647/elon-musk-twitter-harassment-employees/) about the platform’s safety.

Elon Musk says he wants to close his $44B Twitter-quistion this month, but the saga isn’t over

__Ready, set, shop…__ __TikTok__ is setting the stage for users and businesses to host live shopping events. This week Gen Z’s favorite app [reportedly](https://techcrunch.com/2022/10/03/tiktok-said-to-be-launching-live-shopping-in-the-us/) signed a deal with LA-based streaming platform __TalkShopLive__. TikTok's live shopping platform launched in the UK last year but has struggled with low usage. Now it may try again stateside with TalkShopLive’s tech: 

- __QVC for the social era:__ TSL lets everyone — from __Shein__ haul influencers to amateur home chefs — host live shows. In February it teamed up with __[Walmart](https://robinhood.com/stocks/WMT/)__ for live shopping events. 
- __TalkShopLive lets__ viewers purchase goodies during and after live streams, taking a 10% commission from sellers.

__Buy my #OOTD…__ Live shopping isn’t new, but it’s much more popular in Asia. Last year, China’s live-stream shopping brought in $300B in sales, versus $11B in the US. Now American techies are trying to get in on the action. __[Amazon](https://robinhood.com/stocks/AMZN/)__ leaned on influencers to host Prime Day live streams this year, and __[Meta](https://robinhood.com/stocks/META/)__ launched a live-shopping feature in 2018 — but shut it down last month to focus on Reels. 

- __TikTok owner ByteDance__ tripled its losses last year after spending heavily to expand. Now it’s looking for fresh ways to monetize its 1B+ users.
- __Last year TikTok__ started [allowing](https://snacks.robinhood.com/newsletters/4sQYPGu7XlVaHzU9SWyAuX/) [Shopify](https://robinhood.com/stocks/SHOP/) merchants with a "TikTok for Business" account to add “shopping” tabs to their profiles and create mini storefronts.

TokShop

__You get in where you fit in…__ TikTok is already the home for beauty hauls and cooking tutorials. Now it could use TalkShopLive to fortify its shopping offerings — a draw for merchants and users. Social commerce is predicted to grow 3X as fast as traditional ecommerce over the next three years.

TikTok wants to popularize live shopping in the US as tech giants try to catch up with China’s social-commerce boom

Elon Musk says he wants to close his $44B Twitter-quistion this month, but the saga isn't over

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🐦‍ Twitter’s “After Elon” era

The Crypto Catch-Up…

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