|Today, Twitter has accepted Elon Musk’s $44B bid to buy the social media company. Musk is a big fan of Doge coin and many insiders believe Doge payments will be accepted on Twitter for advertising payments. Price of Doge has rocketed 30% after the news.|
Under the agreement, Twitter stockholders will get $54.20 per share, a 38% higher closing price on
Musk added that he wants to introduce an “edit” button for tweets and to crack down on crypto scams and spambots.
In today’s news, Two Europeans were charged for co-founding a pro-North Korea conference, Kraken was granted a license by UAE, and BAYC’s $2.8M Instagram hack.
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Musk gets some financial aid for TwitterIn the latest installment of Elon Musk’s Twitter saga, a group of 19 investors are backing his $44B buyout with $7.1B+ in new financing.
What’s this mean? It makes the deal more affordable for Musk by reducing the cash he’s responsible for laying out, as well as the Tesla shares he needs to put up against a $12.5B loan — by 50%.
The largest investor on the list…… is Prince Alwaleed bin Talal, of Saudi Arabia. Originally, the prince tweeted that Musk’s offer didn’t come “close to the intrinsic value of Twitter.” Musk responded by asking him about “the Kingdom’s views on journalistic freedom of speech.”
In a flip-flop, the prince is now putting up $1.9B in financing and tweeted that Musk will be an “excellent leader.”What happens now? CNBC reported Musk is expected to become Twitter’s CEO for a few months. Current CEO Parag Agrawal, who himself has had the gig for just a few months, is set to receive $42m if he loses his job.