Key Takeaways
- Aave founder’s Twitter account was suspended after he claimed to be the new Twitter CEO.
- The price of AAVE pumped despite the tweet being a joke.
- Elon Musk’s Twitter takeover has the crypto market on its toes.
Twitter is currently in the middle of a massive transition and appears to be quite sensitive about the misinformation of any kind. Stani Kulechov, the founder of Aave, was suspended from the platform shortly after tweeting that he was “joining Twitter as interim CEO.”
AAVE pumps as founder jokes about becoming Twitter CEO
He posted the tweet on April 27, and also gave it prominence on his profile by pinning it.
In a follow-up tweet, Kulechov proceeded to thank Elon Musk for his appointment and outline his plans as interim CEO.
“My first agenda is the roadmap for 90 days:
-Ship edit button by next week,
-Open-source the Twitter algorithms,
-Add support for Ethereum & ENS,
-Integrate with LensProtocol,” he said.
While the tweets are no longer available on Twitter, they have sparked conversations on the platform. Several market participants have pointed out that banning his account was harsh as the tweet was obviously a joke.
Meanwhile, the joke has been beneficial for AAVE, the native token of the eponymously named DeFi protocol. The price of AAVE is up 2.28% on the day, increasing from trading at around $166, to $176.
Will events like this stop occurring after Musk takes over?
While market old-timers may easily recognize the humor, the misleading nature of the tweets cannot be denied for newcomers. With Twitter in the middle of a buyout and preparing to hand over its ownership to Elon Musk, there has been speculation that the executives of the company may also be shuffled.
Musk has hinted that he does not have confidence in the company’s management and has recently criticized its top lawyer Vijaya Gadde. The billionaire has also been open about the feature and policy changes he will bring to Twitter after he takes over.
The main point of his plan is to make Twitter the de-facto platform for free speech where users will be allowed to share their opinion without fear of censorship or de-platforming. However, the purchase has been met with both acceptance and rejection.
Despite the mixed sentiments the plan has raised, fans of Dogecoin are hopeful that the meme coin may soon be integrated into the platform as Elon Musk is a staunch supporter.
Following the announcement of Twitter’s agreement to accept Musk’s bid, the price of DOGE surged. However, the market has cooled off. DOGE is currently trading at around $0.138, down 0.83% in the last 24 hours.
