Tag: Elon Musk

Dogecoin rallied upon Twitter takeoverE
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October 30, 2022

Elon Musk’s Twitter Takeover Also Freed Dogecoin And Inspired The Crypto Environment!

It was ultimately clear after weeks of disputes that Elon Musk would take over Twitter. Musk became Twitter’s owner late Thursday as his $44 billion deal to take over the company officially closed, marking a new era for one of the world’s most influential social media platforms. He announced it with the tweet, "The bird is freed" on Twitter. In parallel, the cryptocurrency Dogecoin, promoted by Musk, has also shot up again, pulling Bitcoin and Ether along with it.
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Tesla massively sells carbon creditsN
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October 30, 2022

Not A Green Company! Tesla Relies On Carbon Credit Sales To Produce Cash Flow!

Tesla, Elon Musk’s US$750 billion electric vehicle company, continues to earn huge profits on the carbon credit market. In the past five years, Tesla has earned over US$5bln by selling carbon credits. In the last trailing twelve months (TTM) alone, Tesla generated US$1.6 billion in revenues from selling carbon credits, comprising approximately 10% of its US$16.1billion earnings. However, these sales constituted over 50% of free cash flows in the latest quarter.
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Elon Musk and the Twitter WhistleblowerW
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August 25, 2022

Whistleblower Complaint Against Twitter May Be Good News For Elon Musk!

Twitter sued Elon Musk on July 12 in Delaware to force him to go through with his $44 billion takeover bid. Musk said he wanted out because the company hadn’t provided the necessary data and information he needed to assess the prevalence of fake or spam accounts on its platform. Musk later countersued, accusing Twitter of fraud for misrepresenting the condition of its business and key metrics about the users on its platform. A new whistleblower complaint against Twitter does not improve the company's position, to say the least.
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Twitter holds a shareholder vote on Elon Musk's takeover bidT
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July 27, 2022

The Twitter Take-Over Battle Continues With Shareholder Vote!

Twitter scheduled a shareholder vote on Elon Musk’s $44 billion takeover proposal, after the billionaire declared the deal's termination. In a regulatory filing, Twitter said it would ask shareholders to vote on the arrangement at a meeting on 13 Sept 2022. Elon Musk and Twitter agreed to the $44 billion acquisition in April. Musk announced that he planned to take the social media company private. Twitter sued Musk to force him to comply with the merger agreement. The trial will start in October, though a specific date hasn’t been set.
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Elon Musk allegedly selling SpaceX shares to finance Twitter dealA
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July 23, 2022

Amid The Elon Musk Court Battle Twitter Reports Declining Revenues And Net Loss!

Twitter reported a surprising decline in revenue that the social-media company blamed on advertising weakness and uncertainty related to its pending $44 billion acquisition by Elon Musk. The company's revenue fell to $1.18 billion from $1.19 billion a year ago and was below the average analyst estimate of $1.32 billion. It was Twitter’s biggest revenue miss ever. Despite the disappointing numbers, Twitter shares rose around 1% to close at $39.94 Friday.
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Elon Musk versus Twitter explained on FinTelegramT
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July 20, 2022

Twitter vs Elon Musk Trial Scheduled for October!

Twitter won the first legal battle against Elon Musk on Tuesday. Chancellor Kathaleen St. Jude McCormick, the chief judge of the Delaware Chancery Court, ordered a five-day trial in October over whether the billionaire is forced to complete his $44 billion acquisition. Musk had agreed to buy Twitter in April but terminated the deal in early July. Consequently, Twitter sued Musk and sought to expedite the case by requesting a trial in September, which Musk had countered by asking for a trial in February.
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Elon Musk and his court battle with TwitterT
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July 16, 2022

The $44 Billion Twitter War With Elon Musk Continues In Court!

Twitter has asked the court to expedite the proceedings, citing risks from the recent economic downturn and being held in limbo by Elon Musk. The company requested an early trial by mid-September “to protect Twitter and its stockholders from the continuing market risk and operational harm resulting from Musk’s attempt to bully his way out of an airtight merger agreement.” In their response, the Musk'slawyers filed a motion asking the court should reject Twitter’s “unjustifiable request to rush this.”
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Elon Musk terminates Twitter DealE
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July 10, 2022

Elon Musk And Twitter Are Headed For A Courtroom Battle!

In a regulatory filing, Elon Musk moved to terminate the termination of his $44 billion takeover bid of Twitter. He said that the company hasn’t provided the necessary data and information he needs to assess the prevalence of fake or spam accounts. However, Twitter wants to force him to follow through. According to WSJ, the social-media powerhouse and the world’s richest person appear headed for an interesting courtroom battle. Twitter said it plans legal action and is expected to file a lawsuit arguing he is required to close the agreed-upon deal.
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Vitalik Butrin bashes crypto hedge manager for superyachtT
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June 26, 2022

Twitter Battle! Ethereum Founder Vitalik Buterin Bashes Crypto Hedge Fund Manager For $50M Superyacht!

Twitter continues to be the battleground of tech apostles like Elon Musk, Michael Saylor, or crypto pundit Vitalik Buterin. The latest battle aroused around Zhu Su (@zushu), CEO of struggling crypto hedge fund Three Arrows Capital (3AC), who allegedly purchased a superyacht for $50 million. The rumor was brought by @AutismCapital and @FatManTerra and later commented by Ethereum founder and mastermind Vitalik Buterin (@VitalikButerin). The depressed crypto environment only makes envy and ill will run high on Twitter as well.
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Sam Bankman-Fried FTX founder and Robinhood investorS
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June 19, 2022

Sam Bankman-Fried, FTX, And His Robinhood Investment

The vegan crypto billionaire Sam Bankman-Fried founded the crypto broker FTX in April 2019 and has since been on an aggressive acquisition trip around the world. FTX acquired the CySEC-regulated K-DNA Financial Services Ltd and the ASIC-regulated Australian ITFS Markets Pty Ltd in March 2022. A few weeks ago, WSJ reported a $648 million investment in Robinhood in exchange for 7.6% of the company’s shares. In recent weeks, the FTX founder has also stepped up as a financier in Elon Musk's Twitter acquisition. He is a busy guy!
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Elon Musk allegedly selling SpaceX shares to finance Twitter dealE
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May 22, 2022

Elon Musk Allegedly Sells SpaceX Shares To Fund The Twitter Acquisition!

Elon Musk is undoubtedly the first "richest man" who has made social media and Twitter, in particular, an essential tool of his reign. The founder of Tesler and SpaceX announced the acquisition of Twitter for $44 billion. Shortly after that, he declared the deal pending because the number of Twitter fake accounts would be significantly higher than the maximum 5% stated by Twitter. Now SpaceX is expected to set new records with a new capital increase helping Musk to finance the Twitter deal.
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US trial against Serbian boiler room operators and binary options fraudstersB
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April 6, 2022

Bravo! US court orders Black Banx founder Michael Gastauer to pay over $17 million!

The U.S. Securities and Exchange Commission (SEC) obtained a final judgment against Michael Gastauer, the German founder of the Black Banx scheme, for his role in an international scheme that generated more than $165 million of illegal sales of stock on the U.S. markets in at least 50 microcap companies. He is ordered to pay over $17 million. In 2018, the SEC charged Gastauer and six of his US-based entities with aiding and abetting a vast securities fraud scheme orchestrated by UK citizen Roger Knox.
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