Elon Musk Puts Twitter Deal On Hold

M&A Twitter
Last updated:
Author
Author
Fredrik Vold
Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Source: AdobeStock / tashatuvango

 

Tesla chief Elon Musk’s deal with social media giant Twitter to take over the company has been put on hold, but the star entrepreneur said he is “still committed to acquisition.”

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk wrote on the social media platform around 09:45 UTC on Friday.

The tweet linked to a Reuters article that referred to a filing from Twitter on Monday where the company estimated that less than 5% of its “monetizable daily active users” are false or spam accounts.

Elon Musk has previously said that one of his main priorities with Twitter would be to remove “spam bots” from the platform.

The price of Elon Musk’s favorite crypto dogecoin (DOGE) has so far fallen by 5% in the 15 minutes since the news broke.

At the same time, shares of Twitter were down by 8.67% to USD 41.17 in pre-market trading.
___
Learn more: 
Binance Backs Twitter Takeover with USD 500m, Musk Could Serve as Interim CEO
The ‘Digital Town Square’: What Might Musk’s Twitter Deal Mean?
Elon’s Twitter: Bluesky Keeps Independence, Dorsey Praises Musk, Market Awaits Next Step
___
(Updated at 12:52 PM UTC to add that Elon Musk said he is “still committed to acquisition.”)

More Articles

Altcoin News
Russian Central Bank to Test Digital Ruble Smart Contract Functions in Tatarstan
Tim Alper
Tim Alper
2025-03-18 03:00:00
Price Analysis
Bitcoin Whales Exit $945M in ETFs – Can BTC Break Above $85K?
Arslan Butt
Arslan Butt
2025-03-18 02:31:30
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors