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Elon Musk argues he has the right to pull out of Twitter deal

As Elon Musk spars with Twitter over the company’s reluctance to release more information about its user base, the billionaire owner of Tesla is considering the possibility of pulling out of the $41.4 billion deal. “This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” a letter filed with the Securities and Exchange …

Elon Musk says Dogecoin creator didn’t help him to fix Twitter bots

Elon Musk has hit out against Dogecoin founder Jackson Palmer in a string of tweets, particularly over some help that Palmer gave him four years ago. In 2018, Musk was complaining about Twitter bots that were pushing cryptocurrency scams in the replies to his tweets. At the time, Palmer offered to share a snippet of code that would help fix the problem for him. Palmer said at the time: “Elon has the script… we had a good chat on how …

Musk tweets his support for crypto over fiat currencies

Tesla and SpaceX CEO Elon Musk made his position clear in a couple tweets early today: He supports crypto over fiat currencies. It began when the world’s richest person tweeted: “Any sufficiently advanced magic is indistinguishable from technology.” This was a riff on science fiction writer Arthur C. Clarke’s famous quote: “Any sufficiently advanced technology is indistinguishable from magic.” Someone then asked what Musk thought of people who were “angry at him because of crypto,” as he has in the …

Elon Musk says Twitter purchase ‘on hold’ pending details on fake accounts

Elon Musk said his pending acquisition of Twitter is “on hold” until the social network can offer more clarity on its fake accounts. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted from his verified account on Friday.  The billionaire Tesla CEO, who has more than 90 million Twitter followers, shared a link to a Reuters report that said Twitter estimated false or spam accounts represented fewer …

Trump’s attempt to lift permanent Twitter ban dismissed by federal judge

Former President Donald Trump’s lawsuit against Twitter seeking to lift his permanent suspension from the social media giant was dismissed by a federal judge on Friday. San Francisco federal District Judge James Donato wrote that Trump’s argument that the ban violated his First Amendment right to free speech was not persuasive because Twitter is a private company. “The First Amendment applies only to governmental abridgements of speech, and not to alleged abridgements by private companies,” Donato wrote, adding that Trump’s …

Elon Musk changes Twitter profile picture to Bored Ape collage

Elon Musk, the billionaire Tesla CEO in the process of buying Twitter, appeared to change his profile picture on the social network to a composite image featuring multiple Bored Ape Yacht Club non-fungible tokens (NFTs) on Wednesday. As of Wednesday morning, Musk’s Twitter avatar featured a picture of dozens of Bored Apes, with Ape 5809 in the centre. The image appeared to be a stock photo.  The price of apecoin, the token launched by Bored Ape creator Yuga Labs, climbed …

Twitter reports increased first-quarter revenue, reveals data error

Twitter reported an increase in first-quarter revenue on Thursday, three days after accepting Elon Musk’s bid to take the company private. The US social media company made what could be its last public earnings announcement, which showed first-quarter revenue up 16% to $1.2 billion. Net income for the quarter was $513 million, boosted by the sale of its MoPub mobile ad platform.  As the Twitter board accepted Tesla CEO Musk’s bid to take the company private on Monday, the standard …

ARK’s Wood and Galaxy’s Novogratz talk Twitter and Bitcoin ETFs in the Bahamas

Galaxy Digital’s Mike Novogratz and ARK Invest’s Cathie Wood see the tides changing for a spot bitcoin exchange-traded fund (ETF) and for Twitter under Elon Musk. During a Tuesday panel at FTX and SALT’s Crypto Bahamas conference, Novogratz and Wood addressed how the recent Twitter deal could be good for crypto and how coming shifts in the political sphere could lead to the approval of a spot bitcoin ETF.  Twitter Novogratz and Wood butted heads over the recent deal between …

Here’s how Elon Musk could change ‘Crypto Twitter’

On Monday, Elon Musk finally got what he wanted: Twitter. The $44 billion-odd deal, the rumblings of which began late this weekend, closed the book on the theatrical swirl around the billionaire entrepreneur’s efforts to acquire the social media site he uses so assiduously. The deal will see Musk, who already runs the electric automaker Tesla and private space contractor SpaceX, take the reins at Twitter, which was founded in 2006. Musk became a user in mid-2009. Since Musk unveiled …

Twitter accepts Elon Musk’s $44 billion takeover offer

Twitter has accepted billionaire Elon Musk’s offer to buy the social media company for approximately $44 billion.  The Tesla CEO will pay $54.20 per share, according to a statement on Monday, confirming reports over the weekend that a deal was imminent. The transaction, which will make Twitter a privately held company, is expected to close some time this year, pending approval of Twitter stockholders and regulators. Twitter’s independent board chair Bret Taylor said the board conducted a “thoughtful and comprehensive …