Investment management firm Elliott Management has established an agreement with Twitter, in which Jack Dorsey will remain the CEO of the giant social network. This announcement can be seen as a major victory for the Bitcoin community and cryptocurrency.
After closing the deal – considering repurchasing $ 2 billion worth of shares, Elliott will win a position of Twitter's board of directors, according to NBC. reporting on March 9. As part of the deal, private equity firm Silver Lake will also invest $ 1 billion in Twitter and also gain a position on the board. Twitter's board will continue to look for a third member.
Commenting on the event, Dorsey said:
"Silver Lake's investment in Twitter is a strong vote of faith in technology and the way forward. They are one of the most vocal parties in our technology and finance, and we are fortunate to have them as new partners and board members. "
Concerned about Dorsey's plan
Paul Singer – a billionaire investor and founder of Elliott Management, began pushing for the removal of Dorsey from Twitter's CEO position at the end of February. space between Dorsey's two companies worth more than $ 5 billion – Twitter and crypto payment company Square, and wants to move to Africa.
After news of Dorsey being kicked out of Twitter, a number of major players in the cryptocurrency industry spoke out in support of Twitter CEO. Ethereum co-founder Vitalik Buterin and Tesla CEO Elon Musk – who has long been known for positive endorsement for cryptocurrencies, don't want Dorsey to leave Twitter.
Buterin asked questions about the capacity of a new CEO to replace Dorsey, saying: "I am also on Jack's side. Twitter certainly has flaws, but @Jack has done much better than I expected / feared from a hedge fund that was appointed CEO as his replacement. "
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According to CoinTelegraph
Translated by ToiYeuBitcoin