Home Coinbase Elon Musk’s Twitter Purchase ‘A Nice Win for Free Speech’: Coinbase CEO – Decrypt

Elon Musk’s Twitter Purchase ‘A Nice Win for Free Speech’: Coinbase CEO – Decrypt

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Billionaire Tesla CEO Elon Musk has introduced free speech entrance and heart amid his imminent takeover of Twitter. 

Now, he’s discovering help from the CEO of one of many crypto trade’s largest exchanges.

“Elon shopping for Twitter is a good win totally free speech, and possibly adjustments the trajectory of the world greater than most individuals notice,” tweeted the CEO of Coinbase Brian Armstrong yesterday. “Twitter is upstream of media and tradition in some ways, and it was trending in a really harmful course on censorship.”

Musk’s Twitter takeover

Following a weeks-long backwards and forwards, Twitter accepted Musk’s $44 billion bid to take over the corporate. The saga started with the Tesla and SpaceX CEO first buying a 9.2% stake within the social media platform on April 4. A day later, Twitter CEO Parag Agrawal introduced that Musk would join the Twitter board of administrators.

On April 9, Musk informed Twitter that he would, actually, not be becoming a member of the board. Then, simply 5 days later, he made a formal offer to purchase the corporate for $43 billion, tweeting, “Twitter has extraordinary potential. I’ll unlock it.”

His reasons for buying the corporate outright quite than working inside its present kind stem from issues revolving round censorship, eradicating rampant spam bots, introducing an edit button, and turning Twitter’s code open-source. 

Nonetheless, attaining all this will probably be a “turnaround job,” added the Coinbase CEO in at present’s thread. However supplied Musk “props for executing on it and taking over the problem in a approach most individuals couldn’t even ponder.” 

“Hopefully, Twitter could be transformed to a decentralized protocol over time,” mentioned Armstrong. That would but occur; Bluesky, a Twitter-backed venture to create an “open and decentralized customary for social media” instigated by former Twitter CEO Jack Dorsey, introduced that it was unaffected by Musk’s buy of the social media big.

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