Twitter case: the founder of Ethereum opposed to the hostile takeover of the social network

A’Hostile takeover against one social network in any case, it should be avoided. the idea of Vitalik Buterinthe billionaire founder of Ethereum, expressed in a series of tweets. According to Buterin, potentially a foreign government willing to create disinformation could thus equip itself with a very effective resource to pass on the information.

Vitalik Buterin

At the same time, Buterin said to himself in favor of Elon Musk’s operation, which last week made an offer to acquire 100% of Twitter. If Musk took control of Twitter, according to Buterin, it would be an improvement over the current situation, although handing over such an important social network to a very wealthy person could be counterproductive. Buterin thinks this could lead to a situation where the governing body is not stimulated enough to monetize the company and at the same time have a high level of influence.

When Elon Musk revealed his intention to take over the company for $43 billionsaid making Twitter a private company would bring security benefits freedom of expression through the decentralization. His statements split the web and cryptocurrency worlds in two and there was criticism from those who think Musk might use Twitter to feed their interests. Even the founder of Dogecoin Jackson Palmer spoke out against Musk’s intentions and hostile takeover.

On Friday, Twitter’s board spoke negatively about whether to cede control of the company to Elon Musk, defining “poison pill” the latter’s offer. Additionally, to discourage the Tesla CEO’s attempt, current shareholders were allowed to purchase Twitter shares at a discounted price. From now on, the boss of Tesla will have to present an even more profitable offer to complete a net acquisition, paying a figure which is starting to become very important.

Musk, however, said he had a backup plan. He will still have to fight a long battle if he really wants to get his hands on Twitter, provided he is really interested in the operation and does not just move. talk about Tesla.

In the meantime, in addition to Buterin, they have arrived other reactions by influential personalities on the web. Charles Hoskinsonfounder of gimbalan open-source cryptocurrency-related project that aims to create a public blockchain platform for managing smart contracts, proposed to Elon Musk to make Twitter a blockchain-based decentralized platform. About a month ago, through a poll on Twitter, Musk had already advanced such a solution, with the aim of promoting freedom of expression on the platform.

Justin Sundiplomat and entrepreneur best known for founding TRONa blockchain-like ecosystem Decentralized Autonomous Organization (DAO)instead supported Musk’s intentions, even stepping up from his offer and coming to $60 per share (against the 54.2 dollars of the boss of Tesla). According to Justin Sun, Twitter should become “crypto-native and Web3 compatible”.

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