Home » News » Breaking: Elon Musk Officially Takes Over Twitter, Doge Coin Surges

Breaking: Elon Musk Officially Takes Over Twitter, Doge Coin Surges

  • Elon Musk finalized closing of the deal and acquired Twitter.
  • Will Dogecoin price go up?

Elon Musk has officially taken full control over twitter. He formally closed the deal on Thursday, 27/10/2022. Some of the top officials at twitter have been flushed put of the company. According to reports, CEO Parag Agrawal, CFO Ned Segal and head of legal and policy Vijaya Gadde have been fired with Musk accusing them of misleading him over the number of spam accounts on the platform. Parag and Segal were escorted out of the company headquarters when the deal was closed.

In a report by Washington Post on October 20th, Musk planned to cut up to 75% of Twitter’s staff. However, days later a report from Bloomberg disclosed that, during Musk’s visit on October 26th, he told the staff that those statements were false and he does not plan to fire any staff. However the top executives were in for a shock.

Just some months before, Musk had attempted backing out of the deal accusing twitter of making false and misleading representations regarding the number of spam and fake accounts. He looks to change the platform to be free speech so that people can share their views. He also want to solve the issue of bots on twitter and get rid of spam and fake accounts.

Elon Musk has updated his twitter bio to Chief twit. After closing the deal, he was filmed walking in to Twitter’s headquarters and brought a sink with him.

In a tweet, Musk addressed a letter to Twitter advertisers and further repeated his motivations for buying twitter, saying it is important for the “future of civilization to have a common digital town square” free from political polarization. Additionally, he said that he bought the platform “to help humanity, whom I love” and said that his vision of twitter is to become “most respected advertising platform in the world.”


Bright Future For Dogecoin ?

Dogecoin has seen high volatility immediately after the deal was closed. Just when the deal was finalized, Dogecoin was at $0.07879 and it surged over 21% making a high of 0.08476 in the last 24 hours. The token price later slipped down to nearly 7% and was at $0.07479.

Elon Musk is the link between twitter and Dogecoin. The Tesla and SpaceX CEO had mentioned about the idea of adding Dogecoin as a payment for Twitter Blue subscription service. Musk has been a big supporter of Dogecoin and often influencing its price with his tweets. He shared a tweet in 2020 of the rise of the altcoin. Most importantly, he made a Dogecoin payment option on his Tesla merchandise store.


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