As Coindesk reports, the NFT token in Jack Dorsey’s first tweet, which was sold for $2.9 million last year to Sina Estavi, didn’t make much of a profit when it was resold.
As Coindesk reports, the non-deletable token in Jack Dorsey’s first tweet, which was sold for $2.9 million last year to Sina Estavi, didn’t make much of a profit when it was put away. resell.
The auction for NFT ended with just seven offers ranging from just 0.0019 Ether to 0.09 ETH, or about $6 to about $280. Far from the $48 million the owner was looking for.
Estavi has two days to accept the bid or it will expire. He told Coindesk via WhatsApp, “The deadline I set has passed, but if I get a good offer I can accept it, I may never sell it.”
Tesla CEO Elon Musk offers to buy Twitter for $43 billion
(AP Technology) Tesla CEO Elon Musk is offering to buy Twitter, saying the social media platform he has criticized for not following free speech principles needs to be transformed into a private company.
Twitter Inc. said in a regulatory filing Thursday that Musk, currently the company’s largest individual shareholder, has proposed to buy the remaining shares of Twitter that he doesn’t already own for $54.20 a share. votes, an offer worth more than $43 billion.
Musk called that price his best and final offer, though he did not provide financial details. Offer is non-binding and subject to financing and other conditions.
“I invested in Twitter because I believe in its potential to be a platform for free speech globally, and I believe that free speech is a social imperative for a functioning democracy. action,” Musk said in the filing. “However, since making my investment, I now realize that the company will neither thrive nor serve social imperatives in its current form. Twitter needs to be transformed into a private company.”
Twitter shares rose to $47.83, up 4.3% but well below Musk’s offer price, a sign that some investors doubt the deal will work. Shares are still down from a 52-week high of around $73.
Twitter said it has received Musk’s offer and will decide whether to accept or continue operating as a publicly traded company is in the best interest of shareholders.
Wedbush analyst Daniel Ives said in a client note that he believes “this soap opera will end with Musk owning Twitter following this actively hostile takeover of the company.” He said it would be difficult for any other bidder or corporation to come forward and said Twitter’s board would likely be forced to accept Musk’s offer or begin the process of selling the company.
Musk revealed in regulatory filings in recent weeks that he bought shares in near-daily batches beginning January 31, ending with about 9% of the shares. Only Vanguard Group’s suite of mutual funds and ETFs control more Twitter shares. A lawsuit filed Tuesday in New York federal court alleges that Musk illegally delayed the disclosure of his stake in the social media company so he could buy more shares at a low price. than.
The billionaire has been a scathing critic of Twitter in recent weeks, mainly because he believes it doesn’t follow the principles of free speech. The social media platform has angered followers of Donald Trump and other far-right political figures, who have had their accounts suspended for violating content standards for violence, hate, or disinformation. harmful misinformation. Musk has described himself as a “liberalist” but is also known for blocking other Twitter users from questioning or disagreeing with him.
After Musk announced his shares, Twitter promptly offered him a seat on its board on the condition that he owns no more than 14.9% of the company’s outstanding shares, according to the company’s website. a profile. But five days later, the company said he declined.
He didn’t explain why, but the decision coincided with a series of now-deleted tweets from Musk suggesting major changes to the company, such as dropping ads – the company’s main source of revenue. it – and turned its headquarters in San Francisco into a homeless shelter.
Twitter hasn’t done as well as its social media rivals and has been making a loss last year. The company reported a net loss of $221 million for 2021 mainly related to the settlement of a lawsuit filed by shareholders, who say the company misled investors about the extent of its growth. user base and user engagement with the company’s platform. Co-founder Jack Dorsey stepped down as CEO at the end of November and was replaced by new CEO Parag Agrawal.
Musk’s 81 million Twitter followers make him one of the most popular figures on the platform, rivaling pop stars like Ariana Grande and Lady Gaga. But his prolific tweets sometimes get him in trouble with the US Securities and Exchange Commission and others.
Musk and Tesla in 2018 agreed to pay $40 million in civil penalties and have Musk have his tweets approved by the company’s attorneys after he tweeted about having the money to take Tesla private for 420 USD/share. That didn’t happen, but the tweet sent Tesla’s stock price soaring. Musk’s latest trouble with the SEC may have been his delay in notifying regulators of his growing stake on Twitter.
Both his 2018 comments about making Tesla private at $420/share and his latest bid to make Twitter private at $54.20/share seems to refer to the number 420, a slang term for marijuana.
