😳 Mark Zuckerberg Drops A Song

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• Mark Zuckerberg & T-Pain release acoustic duet

• Just Eat sells US business Grubhub for $650 million

• South Korean influencer allegedly led $232M crypto scam

• Big banks gained more than $1 billion from Bitcoin’s surge

Let’s dive in!

STORIES MAKING A SPLASH

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Mark Zuckerberg & T-Pain release acoustic duet

Meta co-founder Mark Zuckerberg has surprised the internet by dropping a song in collaboration with rapper T-Pain, calling himself “Z-Pain.” The duo reimagined Lil Jon’s 2002 hit Get Low, putting an unexpected musical spin on a nostalgic favorite.

Zuckerberg, known for founding Facebook, Instagram, and Threads, has a history of quirky hobbies like jiu-jitsu and surfing. Now, he’s added music-making to the list with a heartfelt twist. In an Instagram post, Zuckerberg revealed the cover was a special anniversary gift for his wife, Priscilla Chan, as the original song played when they first met at a college party.

“This year, I worked with T-Pain on our own version of this lyrical masterpiece,” he wrote. He shared clips of Chan’s reaction to the track, calling it a “romantic” gesture. The song is now available on Spotify, leaving fans amused and intrigued by Zuck’s latest venture.

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^_BUSINESS
Just Eat sells US business Grubhub for $650 million

Just Eat Takeaway.com is selling its U.S. business, Grubhub, to Wonder Group for $650 million — a dramatic 91% drop from the $7.3 billion it paid four years ago. The deal is expected to close in Q1 2025, with Just Eat Takeaway anticipating $50 million in net proceeds.

Wonder, which pivoted from food delivery to operating delivery-focused restaurants in New York and Philadelphia, will also assume $500 million of Grubhub’s debt. This move reflects the broader struggles in the food delivery sector, where many businesses, once booming during the pandemic, now face profitability challenges.

The rapid rise of food delivery startups, fueled by post-pandemic demand and heavy investment, has faltered. Companies like Flink and Getir have seen valuations plummet, with Getir pulling out of multiple markets to focus on Turkey.

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The impact of social media algorithms on content consumption

In today's digital age, social media algorithms shape the content we see and influence our worldviews 📱 Platforms like Facebook, Instagram, TikTok, and X use complex algorithms to create personalized user experiences, deeply affecting content consumption

Discover how algorithms shape digital experiences in our latest report! 🙌

WEB3 SPECIAL

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South Korean influencer allegedly led $232M crypto scam

A South Korean financial influencer, known as Mr. A, is accused of orchestrating a massive cryptocurrency scam after dissatisfied investors sought refunds for bad stock advice. Police have arrested 215 people, including 12 who remain in custody, in connection with the fraud.

Mr. A, a YouTuber with 620,000 subscribers, allegedly started selling virtual assets after a poor stock recommendation in 2020. He created a network of fake companies to carry out the scam, receiving $232.7 million from over 15,000 victims between 2021 and 2023. Six of the 28 cryptocurrencies involved were created by Mr. A, who also manipulated their market value.

The scammers used 9 million phone numbers gathered from Mr. A’s YouTube and ads to target mainly middle-aged and elderly victims, even impersonating financial authorities to gain trust.

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Big banks gained more than $1 billion from Bitcoin’s surge

Wall Street banks are sitting on $1.4 billion in post-election gains as Bitcoin prices surged, according to Forbes estimates. In the weeks leading up to the election, banks reportedly accumulated 52,820 BTC through Bitcoin futures contracts, totaling 10,564 new contracts.

Bitcoin futures allow traders to speculate on Bitcoin's price without owning the asset directly. While U.S. banks can't hold Bitcoin outright, they can gain exposure through derivatives and ETFs. At the Chicago Mercantile Exchange, banks’ long positions in Bitcoin futures amounted to $3 billion, with an average purchase price of $65,800.

Since the election on November 6, Bitcoin has jumped 22%, generating paper gains of around $1.4 billion for these institutions. The price surge is seen as a result of market expectations for a more crypto-friendly approach under a Trump administration.

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THE WAVES

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More Stories Surfing The Web

💳 Patreon introduces subscription gifting and discounts

🏠 FBI raids home and seizes phone of Polymarket CEO

🚗 Tesla's Cybertruck faces its sixth recall in a year

⚖️ Elon Musk moves all X lawsuits to Texas court

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