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Cryptoknowmics 2022-04-26 05:20:30

Elon Musk Buys Social Media Giant Twitter

Elon Musk to pay $43.4 billion for Twitter, a popular social media network. The Tesla and SpaceX CEO has long used the site to promote crypto assets such as Dogecoin and Bitcoin, post memes, and get into problems with the Securities and Exchange Commission. Musk wants to introduce “new features,” “raise trust” by making “algorithms open-source,” eliminate spam bots, and “authenticate all humans,” among other goals. But, for the group affectionately known as “crypto Twitter,” or CT for short, what precisely do these words mean? And, following such a drastic shift in public perception, what does this signify for the market? Elon Musk To Tap Twitter’s Tremendous Potential, Introduce Changes “Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” Elon Musk said in a tweet – posted on the platform he now owns. Musk, with the support of Morgan Stanley, will purchase Twitter for $54.20 per share in an unprecedented leveraged deal. Musk is the type of person who launches rockets into space and manufactures tunneling flamethrowers. He frequently tweets memes that irritate the community, who then celebrate him when his tweets turn to Dogecoin. However, this agreement could result in significant changes for the crypto Twitter community, both good and harmful. On the other side, fewer spam bots could mean fewer thefts and scams damaging the cryptocurrency business. To create...

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