Time for Binance to Step Away from Twitter

Elon Musk's Twitter Revamp: A Potential Game-Changer for DOGE and Cryptocurrencies in General

DogeCoin Surges 10% Amidst X Payments Speculation, Resulting in $10M Loss for DOGE Futures Traders

"In order to thwart @elonmusk's offer, Twitter is considering a poison pill." Instead of giving up their censoring programs, they will rather self-immolate. This demonstrates their dedication to Orwellian control of narratives and global conversation. Cameron Winklevoss, a Bitcoin investor, tweeted on Thursday, "Scary."

"If the present Twitter board takes acts detrimental to shareholder interests, they would be breaching their fiduciary obligation," Musk wrote in response. They would be taking on a massive liability as a result."

Musk made a bid to buy Twitter for $54.20 a share on Thursday, valuing the firm at $43 billion. The board spent the day debating whether or not to accept. Musk backtracked on Monday, rejecting a board position after purchasing a 9% investment in the social media site last week and agreeing to accept a seat on the board as the largest stakeholder. He was likely upset by the constraints on his ability to shape content-moderation policies inside Twitter's staggered board structure, which sees the business hold director elections every two years as a deterrent against a hostile acquisition. Musk would have been theoretically prohibited from purchasing more than 15% of Twitter as a board member.

Musk's decision The members of Twitter's board of directors have been accused of attempting a hostile takeover on Thursday. He has stated that it is in the best interests of Twitter's shareholders for the board to accept the proposal, given that Twitter's stock is now trading at $45.08, making his offer a generous overvaluation. Some Twitter board members, however, have questioned this, given that the stock recently traded above $70.

Musk's bid had been rejected by billionaire Saudi prince Alwaleed bin Talal Al Saud, a member of the Twitter board of directors, as of late Thursday.

According to the New York Times, the board has another weapon in its inventory to prevent Musk from acquiring Twitter: activating the poison pill, which it is presently evaluating. The board might use this technique to allow existing shareholders to buy more shares at a discount, effectively reducing Musk's ownership stake and discouraging him from pursuing the takeover.

Since March, when Twitter suspended satire site the Babylon Bee for allegedly violating its policy against "hateful" language by publishing a comical headline referring to transgender US assistant secretary of health Rachel Levine as its "Man of the Year," Musk has been seriously considering investor action. Musk conducted polls on Twitter shortly afterward, asking users if they believed the platform practiced and supported free speech.

Musk, a self-described free-speech absolutist, wrote to Twitter's chairman, Bret Taylor, on Wednesday, saying, "I invested in Twitter because I believe in its potential to be the platform for free speech around the world." Free expression, in my opinion, is a fundamental requirement for a functioning democracy."

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