Party alert in Mar-a-Lago. With the takeover of Twitter by Elon Musk, the corks should pop for former US President Donald Trump, who has fallen out of favor and is permanently banned from the platform for hate speech. Because according to reports from the media like that New York Times the deal is perfect. Elon Musk transferred $44 billion to Twitter and finally kept his end of the bargain at the last minute.
Twitter now belongs to the richest man in the world. An official statement from company circles is still pending. The New York Times, however, refers to “three people who were aware of the situation”. In addition, on Thursday, October 27, Musk walked into the company headquarters in San Francisco in the usual jovial style and had already published a statement in which he explained his reasons for the takeover. Musk didn’t bring cake to his first on Twitter, but a sink.
Another indication of the successful takeover is a tweetin which Musk writes, “The bird is freed.”
CEO fired
With the takeover of the short message service, no stone should be left unturned on Twitter in the long term. The new boss immediately put the new course as a “free speech absolutist” into practice: at least four employees from the management team, including CEO Parag Agrawal, were fired immediately. According to media reports, chief lawyer Sean Edgett is even said to have been escorted out.
Takeover at the last minute
Of course, the exalted multi-billionaire waited until the last minute with the takeover. Musk had already given his commitment to take over the short message service for USD 54.20 per share in April. In the course of economic stagnation in the USA, however, the share price fell well below this level shortly afterwards – Musk wanted to get out. The Tesla boss based his reasoning on claims that he had been deceived about the number of fake accounts.
In turn, the Twitter management team did not want to be left alone – and sued the CEO without further ado. The Delaware Chancery Court had given the South African until today, Friday October 28, to complete his part of the deal. That’s what happened.
A lot is likely to change at Twitter with the takeover. Finally, Musk exhibits a significantly broader view of free speech than company policy has previously allowed. The most striking example: In May, Musk announced that he would restore access to Twitter for Donald Trump, who had been hounded from the platform for his endorsement of the riots in the US Capitol.
Musk himself explains his takeover in a statement that he – how could it be otherwise – posted on Twitter yesterday afternoon. In it he writes that his decision was justified by the need to create a “village square for humanity”. He wanted to stop the formation of left and right echo chambers, which separated more and more from each other and caused “more and more division and hatred”.
“I did it to help the people I love,” Musk writes statements.
Doge army rejoices
But the takeover should also bring some innovations for the crypto sector. Elon Musk is a die-hard fan of Dogecoin (DOGE), a memecoin with no real function. In anticipation of an integration, the course of the coin with a Shiba Inu in the logo has climbed the course leaders in the last few days like no other. It was 25 percent in the last week alone.
read too
The fact that a crypto integration in Twitter is more than just wishful thinking of the laser eyes is also made clear by reports that a native Twitter wallet is already being worked on. “Twitter is working on a wallet prototype that supports crypto deposits and withdrawals,” writes software developer Jane Manchun Wong Twitter.
NFT integration already deepened
With the takeover by Elon Musk, Twitter is introducing a new feature. In partnership with four NFT marketplaces, including Solana’s Magic Eden marketplace and Rarible, select Twitter users will soon be able to view, buy, and sell NFTs. The whole thing is called NFT Tweet Tiles and is currently being tested.
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