Coinbase CEO: Elon Musk Buying Twitter Is A 'Great Win' For Free Speech

Brian Armstrong, founder and chief executive of cryptocurrency exchange Coinbase Global Inc COIN, has voiced his approval of Tesla Inc TSLA CEO Elon Musk’s takeover of Twitter Inc TWTR.

What Happened: In a series of tweets on Tuesday, Armstrong said Musk's $44 billion acquisition of Twitter is a “great win” for free speech.

Elon buying twitter is a great win for free speech, and probably changes the trajectory of the world more than most people realize. Twitter is upstream of media and culture in many ways, and it was trending in a very dangerous direction on censorship.

— Brian Armstrong - barmstrong.eth (@brian_armstrong) April 26, 2022

Armstrong called the work to be done at Twitter “a turnaround job” and commended Musk for taking on the challenge.

Freedom of all kinds is worth fighting for - economic, speech, due process, etc.

We need more companies standing for freedom. The freedom stack.

— Brian Armstrong - barmstrong.eth (@brian_armstrong) April 26, 2022

See Also: Shark Tank's Kevin O'Leary Says Twitter's Biggest Risk Is If Elon Musk 'Goes Away'

The Coinbase CEO’s views were shared by other tech leaders, including former Twitter CEO Jack Dorsey.

"Elon’s goal of creating a platform that is 'maximally trusted and broadly inclusive' is the right one," Dorsey said on Tuesday, adding that he did not in principle believe that an individual or company should run Twitter.

On April 25, Twitter accepted Musk’s offer. The value of Dogecoin DOGE/USD  rallied 26% over the following 24 hours, leading to over $20 million worth of liquidations for short-sellers of the meme coin.

Read Next: HOW TO BUY DOGECOIN (DOGE)

Price Action: According to data from Benzinga Pro, Coinbase shares closed 5.91% lower on Tuesday. Twitter shares fell 3.89%.

Photo courtesy: TechCrunch on Wikimedia