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Dogecoin Co-Founder Slams Elon Musk for Launching Hostile Takeover of Twitter

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Thu, 04/14/2022 - 20:15
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Alex Dovbnya
The world’s richest man launching a hostile takeover bid for Twitter is not Jackson Palmer’s idea of freedom
Dogecoin Co-Founder Slams Elon Musk for Launching Hostile Takeover of Twitter
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Dogecoin co-founder Jackson Palmer has criticized centibillionaire Elon Musk’s unsolicited offer to buy social media giant Twitter for $43 billion. 

While Musk told the US Securities and Exchange Commission that his offer is “good” for free speech, some argued that he is the last person who should take over one of the most influential social media companies due to his track record of juvenile online harassment.

Palmer claims that associating any type of “freedom” with the world’s richest man launching a hostile takeover of Twitter takes “some pretty impressive mental gymnastics.”

Last July, Palmer lashed out at the cryptocurrency community in a viral tweet, claiming that the industry is controlled by a powerful cartel of wealthy figures. The Dogecoin co-founder said that he would no longer discuss any crypto-related topics after parting ways with the “toxic” cryptocurrency community all the way back in 2015.

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In May, Palmer slammed Musk, one of the key promoters of Dogecoin, as “a self-absorbed grifter.”  

Musk’s controversial offer was predicted by many analysts. After acquiring a 9.2% passive stake in the company and becoming its largest shareholder, the Tesla boss backed away from his plan to join Twitter’s board of directors in order not to limit his maximum stake to 14.9%.

The centibillionare’s audacious plan to take over Twitter is likely to go awry. According to a report by The Information, which cites a source familiar with the matter, Musk’s offer is viewed as “unwelcome” by the company’s board of directors. Saudi Prince Alwaleed bin Talal Al Saud, one of the social media platform’s top shareholders, has already rejected the deal in a tweet.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.