To complicate Musk’s attempt to swallow Twitter, board approves 'poison pill' strategy

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Daily Crunch: To complicate Musk’s attempt to swallow Twitter, board approves 'poison pill' strategy

Christine Hall and Haje Jan Kamps

Sat, April 16, 2022, 7:30 AM·5 min read

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Welcome to the Daily Crunch for Friday, April 15, 2022, where we are continuing to stick our heads in the sand regarding the war in Ukraine and the Earth slowly roasting itself to a crisp in favor of ... a loudmouthed billionaire wanting to buy a deranged bird sanctuary.

On our Equity podcast today, which we recorded at our amazing, fully sold-out Early Stage event, Alex and Natasha dug into social fintech. A propos events – are you coming to our mobility event? If you want to pitch, it’s your last chance to get your applications in. A propos podcasts – Found, the TechCrunch podcast where founders talk about the stories behind their startups, is nominated for a Webby for best technology podcast! Cast your vote before April 21! - Christine and Haje

The TechCrunch Top 3

Twitter adopts ‘poison pill’ to block Elon Musk’s proposed purchase: For what seems like the whole week now, Twitter is in the news again today. This time, it announced that it was taking steps to block the purchase by “he who shall not be named.” Literally, the company did not mention Elon Musk by name. Hopefully, you’re not like, “What happened?” but if you are: Musk said he wanted to buy the social media giant. Some of his language in the proposal suggested a hostile takeover, so Kyle took a look at hostile takeover history and what it might mean for Twitter’s case.
U.S. links North Korea to latest crypto hack: The U.S. Treasury Department’s Office of Foreign Assets Control said that a North Korean state-backed hacking group known as Lazarus is responsible for the recent theft of $625 million in cryptocurrency from the Ronin Network, an Ethereum-based sidechain made for the popular play-to-earn game Axie Infinity. We report that “this is the largest decentralized finance hack to date.”
Europe startups are having a good year so far: We’ve written about a slowdown in venture-backed deals in different regions, including the U.S., Asia and Latin America, so it is refreshing to see Europe come out ahead in the first quarter — a 20% quarter-on-quarter increase, in fact.