Crypto-friendly billionaire Elon Musk has change into the only real director of Twitter, following the dissolution of 9 former board members, in response to newly filed paperwork.
In an SEC filing dated Oct. 27, the “consummation” of Musk’s takeover of Twitter got here with the dissolution of Twitter’s board members, together with Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou.
“On October 27, 2022, and because of the consummation of the Merger, Mr. Musk grew to become the only real director of Twitter,” the submitting reads.
The Tesla CEO later tweeted in a response to a Twitter person that the association was “simply short-term.”
Beforehand, Musk has stated the platform underneath his possession will give attention to free speech, eliminating spam bots and faux accounts, an edit operate, and probably even crypto funds.
Within the days because the Tesla CEO assumed possession of Twitter, Musk has been busy offering updates on what his new platform might deliver to the desk.
He has already floated the thought of a month-to-month $19.99 cost to get the blue tick verification and bringing again Twitter’s defunct short-form video service Vines, which noticed 69% of 5 million voters in favor of its comeback in a web based poll.
The entire verification course of is being revamped proper now
— Elon Musk (@elonmusk) October 30, 2022
In the meantime, Musk has additionally declared the formation of a “content material moderation council” aimed toward making certain free speech on the platform and to think about reversing bans of sure Twitter accounts, reminiscent of that of former U.S president Donald Trump.
A crypto pockets is rumored to be in growth as properly, however Musk has not made any feedback about whether or not that is true.
After all, the takeover has additionally seen CEO Parag Agrawal, chief monetary officer (CFO) Ned Segal and head of authorized and coverage Vijaya Gadde all ousted from their govt roles for allegedly deceptive Musk in regards to the variety of spam and faux accounts on the platform.
Associated: Binance wired $500M to again Musk’s Twitter takeover — CZ
In the meantime, Twitter co-founder Jack Dorsey who left Twitter’s board in Could, and supported Musk’s buy, seems to have doubled down on his stance by rolling over his stake of over 18 million shares, price round $975 million on the buyout value of $54.20, into the brand new non-public firm, in response to a filing with the SEC dated Oct. 27.
The platform is a well-liked communication device for crypto fanatics with roughly 120,000 tweets per day about #Bitcoin alone, according to BitInfoCharts.
Musk modified his Twitter bio to “Chief of Twit,” the identical day he visited Twitter’s San Francisco-based workplace carrying a sink.
On Oct. 31, he modified his bio once more to “Twitter Grievance Hotline Operator” and, at one person’s suggestion, made his profile image what seems to be him answering the telephone as a baby.
