One of the most prominent supporters of Dogecoin and the CEO of X, Tesla, and SpaceX, Elon Musk, is once again in the heart of debate about the cryptocurrency. Within the context of the DealBook Summit that was held by The New York Times, the entrepreneur made a few remarks.
In the interview, Jesse Powell, who was the co-founder of Kraken and had previously served as the CEO of the cryptocurrency exchange, gave his thoughts. More specifically, Powell discussed the manner in which Elon Musk approaches the management of the social media network.
X (Twitter), which was once a publicly traded corporation in the United States, was acquired by Musk in a transaction of one billion dollars, which was billed as an effort to "rescue freedom of speech." The entrepreneur asserted that the platform was "subjugated" to the government of the United States of America while speaking at the DealBook Summit.
In addition, Elon Musk argued that this purported control was in violation of the Constitution of the United States of America and the First Amendment. To quote Musk:
Considering the extent to which the entire Twitter platform was essentially a sock puppet for the government, it was incredible. It would appear that there is a serious breach of the first amendment, particularly with regard to the level of control that the government had over all of Twitter, which is no longer the case with Twitter.
The co-founder of Kraken expressed agreement with Musk's position. In an effort to "protect" free expression, the current chief executive officer of the social media platform has been adopting adjustments in the site's regulations. This is what Powell said through his X handle:
There is a very compelling argument that Twitter makes against the notion that billionaires should not exist. In point of fact, it demonstrates that we must ensure the care of at least one individual who is worth $44 billion.
A number of other members of the cryptocurrency community concurred with Powell and his support of Elon Musk. This group of people appreciated Musk's role in "protecting" freedom; nevertheless, other others pointed out that it is important to prevent individuals and entities from accumulating power.
During the same interview, Musk discussed the problem that the platform needs to overcome with regard to advertisements. Apple, IBM, and Disney are among the companies who have made the decision to discontinue their marketing campaigns on X because of the company's claimed tolerance with "pro-Nazi" tweets by its employees.
In a conversation with Bob Iger, the CEO of Disney, Elon Musk remarked, "Go F yourself. Take care of yourself. Does that make sense? As a result, Musk's fans have shown their support once again, despite the fact that Disney+, the streaming service owned by Disney, is reportedly experiencing a rise in the number of users who are quitting the service.
