Cardano’s Charles Hoskinson ready to develop a decentralized social media platform with Elon Musk

  • Charles Hoskinson wants to develop a decentralized media platform with Elon Musk.
  • Elon Musk offered to buy Twitter for $54.2 per share with the billionaire calling the offer “the best and final.”

Cardano’s founder, Charles Hoskinson, invited the richest man in the world, Elon Musk, to develop a decentralized social platform together. Charles wrote a Twitter post in which he said he was ready to start working together if Twitter’s heads rejected the offer to buy.

Recently, Elon created a poll among his subscribers about whether to create a decentralized social media platform. Most of Musk’s fans voted positively, and there were many requests to add support for DOGE cryptocurrency for tips. Perhaps Hoskinson’s desire for co-branding stems from his desire to add his cryptocurrency ADA to the list of payment options.

Elon Musk plans to buy Twitter

Elon Musk offered to buy Twitter for $54.2 a share, according to SEC documents. The billionaire called the offer “the best and final.” In a statement, Elon noted;

I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced.

My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. –

According to CNBC, Twitter issued 800.64 million shares – the value of the deal, if approved, would exceed $43 billion. Musk hired investment bank Morgan Stanley as a financial advisor for the takeover.

Justin Sun decided to outbid Musk

Tron founder Justin Sun said he is ready to buy Twitter for $60 a share.

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“I believe @Twitter is far from unleashing its full potential, thus I am offering $60 per share to take the platform private. But we fully support the reform initiatives of @elonmusk and would love to see Twitter becoming crypto-native and Web3 friendly.” – Justin said in a Twitter post.

On the back of the Tesla CEO’s statement, Twitter shares gained 11 percent on the premarket (on the New York Stock Exchange). At the time of writing, the securities are trading near $46.6 .

In April 2022 Musk became the biggest shareholder of Twitter buying 9.2 percent of the company’s securities for $2.89 billion. Earlier the billionaire criticized the social network’s free speech policy.

Recall that the head of Tesla proposed to reduce the cost of a Twitter Blue subscription and give users the opportunity to pay for a premium service in Dogecoin (DOGE).

Related: DOGE payments for Twitter? Community to wait a little longer as Elon Musk declines board membership

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