elon musk takes control of twitter, fires ceo and cfo — says he buys twitter 'to help humanity'

Tesla and Spacex CEO Elon Musk has completed the acquisition of Twitter Inc. and reportedly fired the company’s CEO and CFO. “The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square,” he said. “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.”

Elon Musk Takes Over Twitter

Tesla CEO Elon Musk has completed his $44 billion acquisition of Twitter Inc. and has changed his Twitter profile description to “Chief Twit.” On Thursday night, he tweeted:

The bird is freed.

Immediately after the deal closed, Musk reportedly fired Twitter CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, the social media platform’s head of legal affairs and chief content moderator. Gadde headed up the team at Twitter that made the decision to ban former U.S. President Donald Trump after the Capitol riot in 2021.

On Thursday, Musk tweeted explaining his motivation for acquiring Twitter. The billionaire detailed: “The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.”

He continued, “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society,” elaborating:

That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love.

Addressing Twitter advertisers, Musk explained: “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!”

Emphasizing that “It is essential to show Twitter users advertising that is as relevant as possible to their needs. Low relevancy ads are spam, but highly relevant ads are actually content,” the new Twitter boss concluded:

Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise.

Binance CEO Changpeng Zhao (CZ) confirmed Thursday that his company helped fund Musk’s Twitter acquisition, tweeting: “Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter.” Binance is among the 18 companies that committed to helping Musk fund the deal.

The Tesla CEO went to Twitter’s headquarters on Wednesday with a sink to close the deal. “Entering Twitter HQ – let that sink in!” he tweeted. According to Bloomberg, Musk told Twitter employees during his visit that he is not planning to lay off 75% of the staff.

Keyword: Elon Musk Takes Control of Twitter, Fires CEO and CFO — Says He Buys Twitter 'to Help Humanity'

TECH'S NEWS RELATED

Xbox Boss Phil Spencer Calls Today's Metaverse a 'Poorly Built Video Game'

Phil Spencer Blasts Today’s Metaverse Spencer’s Previous Metaverse Criticism Phil Spencer, CEO of gaming at Microsoft and head of Xbox, directed some criticism at the idea of the metaverse and how it is being executed. Spencer remarked that for him, the current metaverse is a “poorly built video game,” ...

View more: Xbox Boss Phil Spencer Calls Today's Metaverse a 'Poorly Built Video Game'

National Bank of Kazakhstan to Integrate Digital Tenge With BNB Chain, Binance CEO Unveils

The central bank of Kazakhstan intends to use Binance’s blockchain platform Bnb Chain for the deployment of its upcoming digital currency. The decision was made public on social media by Changpeng Zhao, the chief executive of the global crypto exchange which was recently licensed to work in the country. ...

View more: National Bank of Kazakhstan to Integrate Digital Tenge With BNB Chain, Binance CEO Unveils

Huobi Global to Delist HUSD — Stablecoin Slips Below $1 Parity to $0.89

On Thursday, the cryptocurrency exchange Huobi Global announced that the trading platform plans to delist the stablecoin HUSD and the delisting will begin at 08:00 (UTC) on October 28, 2022. Furthermore, users with HUSD held on the exchange will see their balances auto-converted to the stablecoin asset tether and ...

View more: Huobi Global to Delist HUSD — Stablecoin Slips Below $1 Parity to $0.89

Bitcoin, Ethereum Technical Analysis: ETH Falls Below $1,500 — Market Momentum Remains Bullish

Ethereum dropped below $1,500 on Friday, as cryptocurrency markets fell following earlier gains in the week. Bitcoin was also in the red in today’s session, as the token moved closer to a breakout below $20,000. Overall, the global crypto market cap is down 1.90% as of writing. Bitcoin Bitcoin ...

View more: Bitcoin, Ethereum Technical Analysis: ETH Falls Below $1,500 — Market Momentum Remains Bullish

Majority of Voters Want More Crypto Regulation — See Digital Assets as Long-Term Part of Economy, Survey Shows

A new survey shows that a majority of likely voters want more crypto regulation. “Our national survey shows voters believe in the promise of digital assets and see it as a long-term part of the economy and their financial future,” said the Crypto Council for Innovation. Voters Want More ...

View more: Majority of Voters Want More Crypto Regulation — See Digital Assets as Long-Term Part of Economy, Survey Shows

Sevio Partners With DMG Venture Capital for Better Content and Advertising Solutions

press release PRESS RELEASE. Sevio, the company that has developed and grown Coinzilla, and DMG Venture Capital have joined their strengths in Q4 of 2022 to boost the content and marketing opportunities available within the crypto market. With this partnership, the projects managed by DMG Venture Capital – Coindoo, ...

View more: Sevio Partners With DMG Venture Capital for Better Content and Advertising Solutions

Undefeated (44-0) Gilberto ‘Zurdo’ Ramírez Challenges for WBA Light Heavyweight World Title vs․ Dmitry Bivol With Bitcoin․com Backing

press release Gilberto ‘Zurdo de Oro’ (Golden Southpaw) Ramírez, with Bitcoin.com in his corner, has a shot at the World Boxing Association (WBA) light heavyweight title as he faces Dmitry Bivol, also undefeated. In what is being hailed as the biggest fight of the year, Ramirez vs Bivol is ...

View more: Undefeated (44-0) Gilberto ‘Zurdo’ Ramírez Challenges for WBA Light Heavyweight World Title vs․ Dmitry Bivol With Bitcoin․com Backing

Singapore Police Received 631 Cryptocurrency Scam Reports in 2021, Government Says

The government of Singapore has revealed the number of crypto scams reported to the police in the past three years. “The vast majority of cryptocurrency scams are perpetrated by scammers based outside Singapore. As such, there is a limit to how much law enforcement agencies in Singapore can do,” ...

View more: Singapore Police Received 631 Cryptocurrency Scam Reports in 2021, Government Says

Study Finds Nearly 60% of Hong Kong and Singapore's Super Rich Have Invested in Digital Assets

Costa Rica Might Be the Next Country to Establish Bitcoin as Regulated Currency

Charles Schwab: Cryptocurrency Is a Top Method for Retirement Savings

Dvision Network Announces 4th LAND Sale Together With Binance NFT and GameFi․org

US Judge Orders Bitcoin Ponzi Operator Imprisoned for Ignoring Court Order to Pay SEC $40 Million

Mad Money's Jim Cramer Apologizes for Being Wrong About Facebook Parent Meta After Stock Plunges

Federal Reserve Chairman Jerome Powell Faces Political Pressure Over Interest Rate Hikes

UniLend V2 Launched: Becomes 1st True Permissionless Lending and Borrowing Protocol

Moldova Bans Cryptocurrency Mining Amid Energy Crisis Caused by War in Ukraine

Google Launches Blockchain Node Engine, Says 'Ethereum Will Be the First Blockchain Supported'

Crypto Firm Freeway Updates Community, Says Trading Strategy 'Failed' and 'Caused a Substantial Loss'

Utrust and Lugano Are Bringing Crypto Payments to an Entire City

OTHER TECH NEWS