Ethereum ETH/USD founder Vitalik Buterin has for the first time commented on the Twitter, Inc. TWTR takeover sage after the company agreed to be taken over by Elon Musk.
What Happened: The largest consequence of Musk taking over Twitter may not be the specific policy decisions the Tesla, Inc. TSLA CEO would make, Buterin said in a tweet. Rather, it would be the effect of on Musk's supporters "feeling emboldened and his detractors feeling like they are arguing on enemy territory," Buterin said.
He also noted that this was happening already. After his tweet elicited mixed reactions, Buterin came back to clarify that he is not against Musk. "Not sure why so many people are reading into this tweet the subtext that I'm anti-Elon. I'm not!," Buterin said.
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Why It's Important: Musk has repeatedly said he is a free speech advocate and will ensure that Twitter adheres to the principles of free speech. The proposed takeover has had a polarizing effect, with those against the takeover sharing their concerns about formerly banned accounts returning to the platform.
Ahead of the finalization of the deal, Buterin warned that when wealthy people or organizations take over social media companies, there is every possibility of them going very wrong. Buterin also said then he considers Twitter similar to a public utility, and there are many good reasons as to why the public should not be represented by any specific government.
Twitter closed Friday's session down 0.18% at $49.02, according to BenzingaPro data.
Related Link: Twitter Founding Team Member: Elon Musk's Free Speech Approach 'Very Naïve And Unserious'
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