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Conflict With Twitter Escalates As Elon Musk Countersues The Company

Tesla CEO and prominent crypto influencer Elon Musk is countersuing Twitter (NYSE:TWTR) after the social media platform initially sued Musk for reneging on the acquisition...
Conflict With Twitter Escalates As Elon Musk Countersues The Company Conflict With Twitter Escalates As Elon Musk Countersues The Company

Tesla CEO and prominent crypto influencer Elon Musk is countersuing Twitter (NYSE:TWTR) after the social media platform initially sued Musk for reneging on the acquisition agreement. The main points under which Musk’s countersuit was filed have not yet been made public.

Musk’s Fight Against Twitter

The dispute between the Tesla (NASDAQ:TSLA) CEO and micro-blogging platform heated up on Friday when Elon Musk countersued Twitter over the collapse of the acquisition deal.

On April 25th, 2022, Twitter and Musk himself announced that they had agreed on a deal for the social networking company worth approximately $44 billion. However, the centi-billionaire later walked away from the deal in July.

Musk publicly accused Twitter of not providing him with the relevant business information requested by him regarding spam and bot accounts.

Musk had previously claimed that he wanted to assess Twitter’s claims that only 5% of its monetizable daily active users were spam accounts.

In response, Twitter filed a lawsuit against Musk with the intention of forcing him to carry out the deal after Musk publicly stated his intentions to terminate the agreement in July.

Musk’s legal team also filed a confidential countersuit on Friday, July 29th, in a Delaware court. It is believed that the details of the lawsuit could be made accessible to the public shortly.

Chancellor Kathaleen St. J. McCormick (NYSE:MKC), the judge overseeing the case, issued an order on Thursday night that established a timeline, and ordered the five-day trial to begin on October 17th.

Crypto Related Plans for Twitter

When Musk was still considering the purchase of Twitter, he stressed that his goal was to eliminate cryptocurrency-related scams on the social network.

The Tesla CEO had previously proposed adding an optional payments-based authentication system that would allow individuals to prove their identity.

Musk confirmed that cryptocurrency payments are just one feature that Twitter could implement as a way to “maximize the usefulness of the service.”

Musk underlined that, in his view, integrating crypto payments into Twitter would make the process of sending and receiving money easier for all.

On the Flipside

  • The decisions made by Musk around the deal and ensuing case have left analysts questioning his true motives over his fake account allegations.
  • Everything seems to indicate that Musk is very attentive to the price of Twitter shares, an element that could also serve as an argument towards finalizing the agreement.

Why You Should Care

  • Twitter shares sank 11% after Musk walked out on the $44 Billion deal.
  • With the legal fight ahead, Twitter is estimating $3 billion losses.

Find out more about Elon Musk pulling out of the Twitter deal, and why it’s bad news for DOGE:

https://dailycoin.com/elon-musk-pulling-out-of-twitter-deal-is-bad-news-for-dogecoin-doge-chronoly-io-holders-ride-pre-sale-bull-run/

Read more on Twitter’s case against Elon Musk here:

https://dailycoin.com/is-twitter-really-going-to-sue-elon-musk-for-ending-the-deal/

Continue reading on DailyCoin

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19-08-2022 15:57:15 (UTC+7)

EUR/USD

1.0084

-0.0004 (-0.04%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (1)

EUR/USD

1.0084

-0.0004 (-0.04%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (1)

GBP/USD

1.1886

-0.0044 (-0.37%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (4)

USD/JPY

136.51

+0.62 (+0.46%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (2)

AUD/USD

0.6905

-0.0013 (-0.19%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (3)

USD/CAD

1.2978

+0.0031 (+0.24%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (2)

EUR/JPY

137.66

+0.58 (+0.42%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

EUR/CHF

0.9654

+0.0002 (+0.02%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (3)

Gold Futures

1,766.95

-4.25 (-0.24%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

Silver Futures

19.152

-0.312 (-1.60%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (10)

Sell (1)

Copper Futures

3.6240

-0.0075 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

89.22

-1.28 (-1.41%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (4)

Brent Oil Futures

95.22

-1.37 (-1.42%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (8)

Natural Gas Futures

9.072

-0.116 (-1.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

215.93

+1.13 (+0.53%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

Euro Stoxx 50

3,747.85

-29.53 (-0.78%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

S&P 500

4,283.74

+9.70 (+0.23%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (8)

DAX

13,580.65

-116.76 (-0.85%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

FTSE 100

7,533.60

-8.25 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Hang Seng

19,772.50

+8.59 (+0.04%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (3)

US Small Cap 2000

2,000.73

+13.41 (+0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (2)

IBEX 35

8,349.25

-81.05 (-0.96%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

BASF SE NA O.N.

43.355

-0.085 (-0.20%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (7)

Sell (1)

Bayer AG NA

53.28

-0.78 (-1.44%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (3)

Sell (3)

Allianz SE VNA O.N.

175.61

-2.91 (-1.63%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Adidas AG

165.99

-1.53 (-0.91%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (0)

Deutsche Lufthansa AG

6.313

-0.253 (-3.85%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Siemens AG Class N

109.33

-0.93 (-0.84%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (7)

Sell (1)

Deutsche Bank AG

8.600

-0.268 (-3.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (10)

 EUR/USD1.0084↑ Buy
 GBP/USD1.1886Neutral
 USD/JPY136.51Neutral
 AUD/USD0.6905↑ Buy
 USD/CAD1.2978Buy
 EUR/JPY137.66Buy
 EUR/CHF0.9654Buy
 Gold1,766.95↑ Buy
 Silver19.152↑ Buy
 Copper3.6240↑ Buy
 Crude Oil WTI89.22Sell
 Brent Oil95.22↑ Sell
 Natural Gas9.072↑ Sell
 US Coffee C215.93↑ Buy
 Euro Stoxx 503,747.85Neutral
 S&P 5004,283.74Sell
 DAX13,580.65Buy
 FTSE 1007,533.60↑ Buy
 Hang Seng19,772.50Neutral
 Small Cap 20002,000.73↑ Buy
 IBEX 358,349.25↑ Sell
 BASF43.355Neutral
 Bayer53.28Sell
 Allianz175.61↑ Sell
 Adidas165.99↑ Buy
 Lufthansa6.313↑ Sell
 Siemens AG109.33Neutral
 Deutsche Bank AG8.600↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(0/ 0) # 1,725
SJC HCM6,620/ 6,720
(0/ 0) # 1,745
SJC Hanoi6,620/ 6,722
(0/ 0) # 1,747
SJC Danang6,620/ 6,722
(0/ 0) # 1,747
SJC Nhatrang6,620/ 6,722
(0/ 0) # 1,747
SJC Cantho6,620/ 6,722
(0/ 0) # 1,747
Cập nhật 19-08-2022 15:57:18
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,754.24-4.33-0.25%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$88.78+1.471.63%
Brent$94.66+1.191.24%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR22.981,7524.268,73
GBP27.175,3928.334,31
JPY167,13176,93
KRW15,2618,59
Cập nhật lúc 15:49:08 19/08/2022
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