Elon Musk is now the owner of Twitter. For the company, this meant the dismissal of top executives, including former CEO Parag Agrawal. As a result of the developments between Twitter and Elon Musk, there were changes in the price of Musk’s favorite cryptocurrency Dogecoin (DOGE). Here are the details…
Elon Musk takes over Twitter
After six months of legal proceedings, Elon Musk made his record deal worth $44 billion. According to Bloomberg, Musk plans to take over the platform as CEO. Musk holds separate CEO positions at Tesla and SpaceX. According to multiple reports, Musk has already fired top bosses CEO Parag Agrawal and CFO Ned Segal. Vijaya Gadde, Twitter’s chief legal and policy officer, and Sean Edgett, general counsel, are also no longer working at Twitter. Meanwhile, Musk tweeted “the bird is free,” a clear reference to the new era of Twitter. As we reported on Kriptokoin.com, Musk went to the company headquarters in San Francisco on Wednesday.
Musk talked about the integration of crypto payments at his first Twitter meeting in June. He also discussed eliminating crypto-related scams. On the other hand, Binance, the largest cryptocurrency exchange, supported Musk’s acquisition of Twitter. Binance CEO Changpeng Zhao announced that he sent the 500 million dollar investment he committed in May to Twitter 2 days ago via wire transfer.
Dogecoin price rises again
As a result, the meme coin DOGE, Elon Musk’s favorite crypto asset, is up 8.63 percent this time around. Thus, it registered a huge green candle on the hourly chart. The most recent rise took the coin to the $0.0803 level. Earlier, Elon Musk officially announced that he took Twitter. However, the DOGE price was down more than 15 percent from Thursday’s $0.0856. After the news emerged that Musk will finalize the Twitter acquisition deal by Friday, the Dogecoin community has been skeptical that the billionaire will adopt DOGE on Twitter.
Some are waiting for DOGE to be added to the tip service on Twitter. Others expect DOGE to be accepted as a payment method for Twitter Blue subscriptions. There is currently no announcement that either development has been confirmed. Still, it’s worth noting that during the summer, Musk recommended DOGE for Twitter Blue. This has fueled the excitement in the DOGE community. DOGE is trading at the time of writing, up 8.8 percent. The cryptocurrency has gained 37.7% in the last 7 days. Currently, it is changing hands at $0.0818.
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