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Known as the biggest supporter of Dogecoin, Elon Musk, the CEO of X, Tesla, and SpaceX, found himself at the center of controversy. The entrepreneur had made some statements during the DealBook Summit hosted by The New York Times.
Is Elon Musk Being Supported?
Jesse Powell, co-founder and former CEO of the cryptocurrency exchange Kraken, shared his impressions about the matter. Powell specifically commented on Elon Musk’s management of the social media platform X.
Previously operating as a publicly traded company in the USA, X (Twitter) was acquired by Musk following a billion-dollar deal presented as an effort to “save free speech.” During the DealBook Summit, Musk claimed that the platform had been “subjugated” by the US government.
Furthermore, Elon Musk stated that this alleged control violated the US Constitution and the First Amendment. Musk said:
“The extent to which all of Twitter was basically a government sock puppet was ridiculous. It seems that there is a serious violation of the First Amendment in terms of how much control the government had over Twitter and now does not.”
The Kraken co-founder supported Musk. The current CEO of the social media platform is making changes to its policies to “protect” free speech. Powell said through X:
“Twitter is showing an extremely strong stance against the view that ‘billionaires should not exist.’ In fact, it proves that we need to protect at least one person worth 44 billion dollars.”
Other members of the crypto community joined Powell in defending Elon Musk. These individuals acknowledged Musk’s role in “protecting” freedom; however, others pointed out the need to prevent the concentration of power among individuals and organizations.
Musk Targets Disney
During the same interview, Musk also addressed the advertising challenges the platform faced. Big names such as Apple, IBM, and Disney had decided to halt their marketing campaigns on X due to claims that the company had been indifferent to past posts.
Speaking directly to Disney’s CEO Bob Iger, Musk criticized the company harshly. While Disney’s streaming service (Disney+) was claiming a drop in the number of registered users on the platform, this situation revealed another wave of support from Musk’s followers.
