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7.2927L6.65685 0.928741C7.04738 0.538216 7.68054 0.538216 8.07107 0.928741C8.46159 1.31926 8.46159 1.95243 8.07107 2.34295L3.41421 6.99981L16 6.99981C16.5523 6.99981 17 7.44752 17 7.99981C17 8.55209 16.5523 8.99981 16 8.99981L3.41421 8.99981L8.07107 13.6567C8.46159 14.0472 8.46159 14.6804 8.07107 15.0709C7.68054 15.4614 7.04738 15.4614 6.65685 15.0709Z"></path></svg>Back</a><div class="sc-4fdbe080-0 iZdgQN title "><h1>Crypto Daily: Binance backs Elon Musk acquisition of Twitter, ETH continues its rally</h1></div></div><div class="time_date_block"><ul class="time_date"><li>Oct 28, 2022</li><li>08:10</li><li>2 min reading</li></ul><div class="author_block"><div class="author_image"><span style="box-sizing:border-box;display:inline-block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:relative;max-width:100%"><span style="box-sizing:border-box;display:block;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;max-width:100%"><img style="display:block;max-width:100%;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0" alt="" aria-hidden="true" src="data:image/svg+xml,%3csvg%20xmlns=%27http://www.w3.org/2000/svg%27%20version=%271.1%27%20width=%2720%27%20height=%2720%27/%3e"/></span><img alt="Choise.com team" srcSet="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=32&q=75 1x, /_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75 2x" src="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75" decoding="async" data-nimg="intrinsic" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div><div class="author_name"><span class="dynamic_author"></span>Choise.com team</div></div></div><div class="content"><div class="main_image"><img title="Crypto Daily: Binance backs Elon Musk acquisition of Twitter, ETH continues its rally" alt="Crypto Daily: Binance backs Elon Musk acquisition of Twitter, ETH continues its rally" fetchpriority="high" width="600" height="314" decoding="async" data-nimg="1" class="directus_image " style="color:transparent" srcSet="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2Ffd6422be-8d15-4c22-b31e-2da17d173d31.webp&w=640&q=75 1x, /_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2Ffd6422be-8d15-4c22-b31e-2da17d173d31.webp&w=1200&q=75 2x" src="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2Ffd6422be-8d15-4c22-b31e-2da17d173d31.webp&w=1200&q=75"/></div><div class="content_block"><p>Elon Musk has completed his acquisition of Twitter. Among his first actions as the owner of the company was to fire the managers. Musk initiated a cleanup of Twitter’s top brass, with the CEO, CFO, and Legal Head all sacked on his first day at the helm.</p><p class="">Elon Musk claims that he wants to make Twitter a less restrictive platform. He also plans to solve the bots issue that is plaguing the social media platform. Musk also claims that he will make Twitter open-source and publicly reveal its algorithm. Reports also highlight that Tesla engineers are taking a look at the Twitter source code. Some reports reveal that Twitter employees were locked out of their codebase and were unable to make any changes to it.</p><p class="">According to CNBC, not all employees seem “enthusiastic” about Elon Musk. This is after a leaked report revealed his intentions to lay off up to 75% of the staff. The workers drafted a letter demanding “fair treatment” from the new management.</p><p class="">Musk offered the Twitter board $44 billion, a take-it-or-leave-it offer. Initially, the board decided to leave it, creating a “poison pill” provision, effectively preventing Musk’s forcible takeover of the company. However, after a couple of weeks, the board changed its mind and decided to take the deal.</p><p class="">Binance CEO Changpeng Zhao had announced that the exchange is backing the acquisition of Twitter by Elon Musk. The company stated that it would commit $500 million towards the move to acquire the social media giant. Binance becomes the first crypto company to contribute to this deal.</p><p class="">“We’re excited to be able to help Elon realise a new vision for Twitter. We aim to play a role in bringing social media and Web3 together to broaden the use and adoption of crypto and blockchain technology,” Changpeng Zhao added.</p><p class="">Earlier this week, one sign of the acquisition was a call with banks including Morgan Stanley, Bank of America and Barclays. Each bank pledged $2.5 billion in loans for Musk’s acquisition.</p><p class="">In total, Musk’s seven banking partners pledged about $13 billion. Other investors backing Musk include the Qatar Investment Authority and venture capital firm Sequoia Capital.</p><p><strong>Ethereum continues its rally</strong></p><p>MeanwhileEthereum started a decent increase above the $1,450 and $1,500 resistance levels. ETH even cleared the $1,550 level and settled above the 100 hourly simple moving average. The price traded close to the $1,600 resistance zone. A high was formed near $1,593 before there was a downside correction. There was a drop below the $1,550 level.</p><p>It is now trading above $1,450 and the100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $1,540 on the hourly chart of ETH/USD.</p><p>Add ETH to your portfolio.<a href="https://crpt.onelink.me/WpQ0/m81giloc">Buy Ethereum with zero fee for the first purchase</a>in Choise.com App or<a href="https://crypterium.onelink.me/jtmZ/deposits?app_screen=deposits">open an interest account in ETH</a>.</p><p><a href="https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22.png"><img loading="lazy" class="alignnone size-full wp-image-508277" src="https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22.png" sizes="(max-width: 1834px) 100vw, 1834px" srcSet="https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22.png 1834w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-460x212.png 460w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-860x396.png 860w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-768x354.png 768w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-1536x708.png 1536w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-750x346.png 750w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-1140x525.png 1140w" alt="Ethereum Price" width="1834" height="845" data-pin-no-hover="true"/></a></p><pre>Source:<a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener">ETHUSD on TradingView.com</a></pre><div class="jeg_ad jeg_ad_article jnews_content_inline_3_ads "><div class="ads-wrapper align-center "><div class="ads_shortcode"><div class="jeg_ad jeg_ad_article"><div class="ads-wrapper align-center"><div class="ads_code"></div></div></div></div></div></div><h3>Technicals</h3><p>Hourly MACD for ETH/USD is gaining momentum in the bearish zone</p><p>Hourly RSI is below the 50 level</p><p>Support Levels – $1,465, $1,450, $1,400</p><p>Resistance Levels– $1,540, $1,550, $1,560, $1,600, $1,720</p><p> </p><p><strong><a href="https://coinmarketcap.com/currencies/choise/">Follow Choise.com on CoinMarketCap</a>to stay updated.</strong></p></div></div><ul class="sc-a1b0f443-0 fTNNTN news_breadcrumbs"><li><a href="/news">News</a></li><li><a href="/news/dailyanalysis">Daily Analysis</a></li><li><span>Crypto Daily: Binance backs Elon Musk acquisition of Twitter, ETH continues its rally</span></li></ul><div class="sc-ebb48054-0 hCkBCM"><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/twitter.svg" alt="Crypto Daily: Binance backs Elon Musk acquisition of Twitter, ETH continues its rally"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/telegram.svg" alt="Crypto Daily: Binance backs Elon Musk acquisition of Twitter, ETH continues its rally - Telegram"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/facebook.svg" alt="Crypto Daily: Binance backs Elon Musk acquisition of Twitter, ETH continues its rally - Facebook"/></button></div></section></div></section></main><footer id="footer" class="sc-3dbed908-0 fGcfsC"><div style="max-width:1200px" class="sc-7bf978d5-0 jWSTwu center_block "><div class="top_block"><div class="content"><div class="description"><div class="description_information"><p>The website and mobile apps are owned by the company Choise Services UAB. 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Among his first actions as the owner of the company was to fire the managers. Musk initiated a cleanup of Twitter’s top brass, with the CEO, CFO, and Legal Head all sacked on his first day at the helm.\u003c/p\u003e\u003cp class=\"\"\u003eElon Musk claims that he wants to make Twitter a less restrictive platform. He also plans to solve the bots issue that is plaguing the social media platform. Musk also claims that he will make Twitter open-source and publicly reveal its algorithm. Reports also highlight that Tesla engineers are taking a look at the Twitter source code. Some reports reveal that Twitter employees were locked out of their codebase and were unable to make any changes to it.\u003c/p\u003e\u003cp class=\"\"\u003eAccording to CNBC, not all employees seem “enthusiastic” about Elon Musk. This is after a leaked report revealed his intentions to lay off up to 75% of the staff. The workers drafted a letter demanding “fair treatment” from the new management.\u003c/p\u003e\u003cp class=\"\"\u003eMusk offered the Twitter board $44 billion, a take-it-or-leave-it offer. Initially, the board decided to leave it, creating a “poison pill” provision, effectively preventing Musk\u0026#8217;s forcible takeover of the company. However, after a couple of weeks, the board changed its mind and decided to take the deal.\u003c/p\u003e\u003cp class=\"\"\u003eBinance CEO Changpeng Zhao had announced that the exchange is backing the acquisition of Twitter by Elon Musk. The company stated that it would commit $500 million towards the move to acquire the social media giant. Binance becomes the first crypto company to contribute to this deal.\u003c/p\u003e\u003cp class=\"\"\u003e“We’re excited to be able to help Elon realise a new vision for Twitter. We aim to play a role in bringing social media and Web3 together to broaden the use and adoption of crypto and blockchain technology,” Changpeng Zhao added.\u003c/p\u003e\u003cp class=\"\"\u003eEarlier this week, one sign of the acquisition was a call with banks including Morgan Stanley, Bank of America and Barclays. Each bank pledged $2.5 billion in loans for Musk’s acquisition.\u003c/p\u003e\u003cp class=\"\"\u003eIn total, Musk’s seven banking partners pledged about $13 billion. Other investors backing Musk include the Qatar Investment Authority and venture capital firm Sequoia Capital.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eEthereum continues its rally\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eMeanwhileEthereum started a decent increase above the $1,450 and $1,500 resistance levels. ETH even cleared the $1,550 level and settled above the 100 hourly simple moving average. The price traded close to the $1,600 resistance zone. A high was formed near $1,593 before there was a downside correction. There was a drop below the $1,550 level.\u003c/p\u003e\u003cp\u003eIt is now trading above $1,450 and the100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $1,540 on the hourly chart of ETH/USD.\u003c/p\u003e\u003cp\u003eAdd ETH to your portfolio.\u003ca href=\"https://crpt.onelink.me/WpQ0/m81giloc\"\u003eBuy Ethereum with zero fee for the first purchase\u003c/a\u003ein Choise.com App or\u003ca href=\"https://crypterium.onelink.me/jtmZ/deposits?app_screen=deposits\"\u003eopen an interest account in ETH\u003c/a\u003e.\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22.png\"\u003e\u003cimg loading=\"lazy\" class=\"alignnone size-full wp-image-508277\" src=\"https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22.png\" sizes=\"(max-width: 1834px) 100vw, 1834px\" srcset=\"https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22.png 1834w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-460x212.png 460w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-860x396.png 860w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-768x354.png 768w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-1536x708.png 1536w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-750x346.png 750w, https://www.newsbtc.com/wp-content/uploads/2022/10/Ethereum-22-1140x525.png 1140w\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" data-pin-no-hover=\"true\" /\u003e\u003c/a\u003e\u003c/p\u003e\u003cpre\u003eSource:\u003ca href=\"https://www.tradingview.com/symbols/ETHUSD/\" target=\"_blank\" rel=\"noopener\"\u003eETHUSD on TradingView.com\u003c/a\u003e\u003c/pre\u003e\u003cdiv class=\"jeg_ad jeg_ad_article jnews_content_inline_3_ads \"\u003e\u003cdiv class=\"ads-wrapper align-center \"\u003e\u003cdiv class=\"ads_shortcode\"\u003e\u003cdiv class=\"jeg_ad jeg_ad_article\"\u003e\u003cdiv class=\"ads-wrapper align-center\"\u003e\u003cdiv class=\"ads_code\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003ch3\u003eTechnicals\u003c/h3\u003e\u003cp\u003eHourly MACD for ETH/USD is gaining momentum in the bearish zone\u003c/p\u003e\u003cp\u003eHourly RSI is below the 50 level\u003c/p\u003e\u003cp\u003eSupport Levels – $1,465, $1,450, $1,400\u003c/p\u003e\u003cp\u003eResistance Levels– $1,540, $1,550, $1,560, $1,600, $1,720\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003ca href=\"https://coinmarketcap.com/currencies/choise/\"\u003eFollow Choise.com on CoinMarketCap\u003c/a\u003eto stay updated.\u003c/strong\u003e\u003c/p\u003e","short_content":"Binance CEO Changpeng Zhao had announced that the exchange is backing the acquisition of Twitter by Elon Musk.","seo_title":null,"seo_description":"Binance and Elon Musk acquisition rumors on Twitter - The world of cryptocurrency moves fast, and Twitter is often at the center of breaking news and rumors. Stay in the know with our daily analysis of the latest rumors and their potential impact.","seo_keywords":null}]}},"__N_SSP":true},"page":"/news/[category]/[slug]","query":{"category":"dailyanalysis","slug":"binance-elon-musk-acquisition-twitter"},"buildId":"k1X0xmEDx3cy0dZTnbTG4","isFallback":false,"isExperimentalCompile":false,"gssp":true,"locale":"en","locales":["en","es"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>