Following the acquisition of the popular tweet blog, Twitter, by one of the world’s richest men Elon Musk, the U.S. Treasury Department has begun looking into whether it has jurisdiction to investigate Elon Musk’s $44 billion Twitter acquisition.
The move comes after Senator Chris Murphy of the Foreign Relations Subcommittee sent a letter to the Committee on Foreign Investment in the U.S. (CFIUS) requesting a review of the deal. He believes the involvement of non-US entities including Saudi Arabia and Qatar investors risks national security implications.
Moreover, it is not clear whether Treasury’s CFIUS officials are aware of the terms granting information rights to large foreign investors. Also, these types of review requests are primarily normal and often don’t end up in full investigations. Experts have also pointed out that Elon Musk’s purchase of Twitter is unlikely to be impacted by a review of national security implications.
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Elon Musk Fires Twitter Executives
Meanwhile, Elon Musk has fired some executives and looks to fire some employees after he took control over Twitter as interim CEO. Moreover, Musk has finalized to offer the Twitter Blue subscription at $8 per month to U.S. customers. However, the price will be adjusted based on purchasing power parity in other countries.
Binance CEO Invested In Twitter Acquisition Deal
Elon Musk, known as a Dogecoin fan, earlier hinted at Dogecoin (DOGE) support on Twitter. However, Binance CEO “CZ”, who also invested $500 million in the Twitter deal, believes Twitter should support multiple cryptocurrencies, not just DOGE and BNB.
Dogecoin price is currently trading at $0.138, down 4% in the past 24 hours. However, the DOGE price rallied over 130% after Elon Musk acquired Twitter.