Breaking: Elon Musk To Move X Headquarters To Texas
Highlights
- Elon Musk says he is moving X headquarters to Austin, Texas
- The social media platform has always operated from San Francisco, California
- This decision is based on state laws and has no defined timeline
Billionaire investor and X owner Elon Musk has just uncovered plans to move the headquarters of the social media platform to Austin, Texas. This announcement comes after series of speculation regarding the future of the viral social messaging app.
Elon Musk To Redefine X Future In Texas
As revealed on his official X handle, Elon Musk declared that the firm’s headquarters will move to Austin. This decision is coming a month and 2 years after he finalized the deal that saw him take ownership of the firm in a $44 billion deal.
And 𝕏 HQ will move to Austin https://t.co/LUDfLEsztj
— Elon Musk (@elonmusk) July 16, 2024
When Jack Dorsey founded Twitter, the firm had historically operated from California. The decision from Elon Musk comes following unfavorable State laws under the government of Governor Gavin Newsom. California has suddenly become a place of terror for many American citizens for a number of reasons including racism, high standard of living, high crime rate and housing crises amongst others. Even Musk claimed to have dodged violent attacks from gangs of drug addicts severally.
Therefore, it is no surprise that Elon Musk is making this move with X. The announcement met with different reactions from X users, with a majority of them applauding the move. Though the timeline for the relocation remains unknown, it will mark a historic shift for the company and its staffs.
Cardano CEO Concerned For X And Musk’s Safety
The Elon Musk relocation announcement for X headquarters and SpaceX comes only a few days after Cardano CEO Charles Hoskinson issued an important safety warning on the billionaire investor.
Donald Trump, the 45th President of the United States was attacked on Saturday during a campaign in Pennsylvania. He narrowly escaped the assassin attack with a bruise on his right ear. Fearing for Musk’s life, Hoskinson stated that those who push for change tend to experience some form of tragedy. It was either in the form of social destruction, legal harassment and imprisonment, and then assassination by a “lone wolf.”
Hoskinson feels like Musk is gradually nearing this last phase that involves assassination. Hence, the decision to move out of California may be a good one.
In another form of security for users and employees of X, Hoskinson has offered to integrate Decentralized Identity (DID) on X for free.
Read More: NEAR Protocol (NEAR) Rockets 10% On New Governance Proposal, Here’s All
- ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
- Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
- Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
