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Elon Musk Calls Off $44 Billion Twitter Acquisition

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News of the Day



Elon Musk calls off plans to acquire Twitter for $44 billion.


Why it matters:

  • According to a letter filed on Friday by Elon Musk’s lawyers with the SEC, Musk is abandoning his Twitter acquisition deal

  • Twitter says that it will take Elon Musk to court and enforce the agreement

  • In May 2022, Musk mentioned that the Twitter deal was “temporarily on hold” because he requested data on the number of fake and spam Twitter accounts

  • According to the letter, Twitter had failed and/or refused to provide this information


Crypto Daily Spotlight



Meta plans on removing the need for Facebook IDs to log into Quest. Instead, users will be able to log in using Meta VR headsets.


Brief introduction: Facebook rebranded its name to Meta last year, in reference to the metaverse, which combines social media with virtual and augmented reality. Starting in March 2022, its VR product line also changed its social media and website names to Meta Quest.


Why it matters:

  • Starting next month, Quest users will need to create a separate Meta account

  • Unlike Facebook accounts, users are free to have multiple Meta accounts, the company says

  • This change addresses the concerns of some VR users who complained about various quirks of relying on a private social media profile to play video games


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