Elon Musk to Join Twitter’s Board
Elon Musk will join Twitter’s board of directors, the social media platform announced on Tuesday. The news comes one day after he purchased 9.2% of Twitter stock.
Elon Musk has vowed to deliver “significant improvements” to Twitter after it was confirmed that the billionaire will join the social network’s board.
The Tesla CEO, who has been a vocal critic of the tech giant, is now the company’s largest shareholder after snapping up a 9.2% stake.
Twitter’s CEO, Parag Agrawal, said conversations with Musk had made it clear “that we would bring great value to our board,” adding:
“He’s both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!”
Jack Dorsey, who recently stepped down as Twitter’s CEO to focus on crypto, also welcomed the news:
“I’m really happy Elon is joining the Twitter board! He cares deeply about our world and Twitter’s role in it. Parag and Elon both lead with their hearts, and they will be an incredible team.”
What This Means for Crypto?
There has been rampant speculation in crypto circles as to what Musk’s ascension to Twitter’s board could mean for digital assets.
The social network has already cemented itself as a crypto-friendly destination thanks to how it supports Bitcoin tipping and NFT profile pictures.
Some enthusiasts have openly pondered whether Twitter would move to integrate Dogecoin given Musk’s long-standing affinity for the memecoin.
Others have expressed hope that Twitter will finally clamp down on spam accounts, which regularly bombard users with dodgy links.
Then again, Musk wasn’t all that impressed when Twitter unveiled the ability to add NFT profile pictures back in January. He wrote:
“Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?”