About two months ago, billionaire Elon Musk took over as CEO of Twitter after completing the $44 billion purchase of the social media company. Since leading the company, Musk has promoted numerous changes to the platform and generated controversy. But now, the billionaire can step down as CEO, relinquishing his newly acquired powers. At least that’s what he guaranteed he would do if that was the community’s wish. And it was. Last Sunday (18), Musk opened a poll on his account on the platform, asking if he should step down as CEO. At the time, he said he would respect the results of the poll. So, a percentage of 57.5%, out of a total of 15.7 million voters, answered “yes” to the poll. However, so far, Musk has not made his departure official. In any case, should he actually step down as CEO, he would remain the owner of Twitter.
Should I step down as head of Twitter? I will abide by the results of this poll. — Elon Musk (@elonmusk) December 18, 2022
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CZ asks Musk to stay
The relationship between Elon Musk and the cryptocurrency universe is not new. Dogecoin supporter (DOGE) has already “pumped” the prices of assets like Bitcoin, DOGE and other memecoins on several occasions, just with tweets. Musk’s influence over the crypto market and its potential to leverage digital assets is so significant that when he announced that he would buy Twitter, Binance was one of the first companies to show support. The exchange allocated US$ 500 million in financial support for the purchase. Exchange CEO Changpeng Zhao (CZ) also supported keeping Musk in office. Minutes before the end of the poll, CZ he responded to Musk telling him he should “stay the course” and not resign.
Vitalik Buterin calls Musk authoritarian
But Musk’s behavior ahead of the social network has been criticized by another important player in the crypto market, the co-founder of Ethereum (ETH), Vitalik Buterin. Last week, when the owner of Twitter promoted a wave of banning accounts on the social network, especially journalists, Buterin warned that this was the path to authoritarianism. “Acting ‘quickly and decisively in response to catalysts’ when the action at hand is banning things is the road to authoritarianism,” tweeted Buterin. The tweet was in response to a user trying to justify recent bans by claiming they were a “quick and decisive” response to catalysts. Buterin also tweeted about Musk’s poll on whether he should step down as CEO. He said the action was something to be respected. “Ok I really respect that”, tweeted Buterin.
Pressure to leave?
Also, regarding Musk’s possible departure as CEO, a former Twitter employee, who recently left the company, told the BBC that he must be under pressure from investors: “I imagine he is being pressured by investors to step down. , and is using this poll to make it appear that he is following the will of the people, rather than the will of those who pay their bills.” Edward Snowden, a former systems administrator for the CIA, made himself available to take over as CEO of Twitter. He even said that he would accept payment in Bitcoin (BTC).
Dogecoin (DOGE)
Musk-backed cryptocurrency Dogecoin (DOGE) reacted badly to Musk’s poll and eventual departure from Twitter leadership. The memecoin price is down about 5% in the last 24 hours and nearly 20% in the last week, according to data from CoinGecko. At the time of writing this article, DOGE is costing R$0.39.
DOGE price chart over the last seven days – Source: CoinGecko
