Ethereum’s Vitalik Buterin Speaks Out Against Hostile Twitter Takeover


Alex Dovbnya

Ethereum co-founder Vitalik Buterin doesn’t want you doing “hostile takeover” of social media companies for rich people

Ethereum co-founder Vitalik Buterin has spoken out against attempts at hostile takeovers of social media companies.

The billionaire programmer believes they could have very serious consequences, according to his recent tweet† He does not rule out the possibility that an ethically contested foreign government could take such a step.

At the same time, Buterin said he wasn’t against Musk taking over Twitter compared to leaving things as they are.

The co-founder of Ethereum claims that Ethereum is “a public utility”. He strongly believes that rich people should not take over social media platforms as they tend to have little income with a high degree of influence.

As reported by U.Today, earlier this week Musk announced his offer to buy Twitter for $43 billion, claiming he could protect free speech after taking the company private. While the cryptocurrency community has been particularly excited about the billionaire potentially buying the highly influential social media platform, many critics have spoken out against the bold idea. Musk will likely use the social media platform to advance his own interests.

On Friday, Twitter’s board of directors took action to thwart Musk’s controversial offer by using a “poison pill” to allow other shareholders to buy more shares at a discounted price. Now the Tesla boss will have to come up with an even more lucrative offer to make a clean takeover, which is highly unlikely at this point.

Musk, however, said he had a backup plan. The poisons law will have the billionaire braced for a protracted battle if he insists on taking over Twitter.



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