NewsletterBreaking: 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
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- XRP Lawyer John Deaton Says Bitcoin Could Still Rally To $110K Before Year End
- ‘Rich Dad Poor Dad’ Author Dumps Millions in Bitcoin But Says He’s Still Bullish
- BlackRock’s IBIT Sets New Trading Record In $11.5B ETF Volume Surge
- Charles Hoskinson Praises Cardano’s Network Design Amid ‘Poisoned’ Transaction Attack
- NYSE Approves Grayscale Dogecoin and XRP ETFs to Launch on November 24
- Dogecoin Price Finds Support: Can the 21Shares & Grayscale DOGE ETFs Spark a Surge?
- Will Solana Price Crash Under $100 as Crypto Market Signals Further Downside?
- Ethereum price Drops Below $2,700 as US Jobs Data Hits Rate-Cut Hopes
- Dogecoin Price Forecast: Will DOGE Hold Above $0.15 or Fall Lower?
- Pi Coin Price Eyes a 105% Surge as Bullish Patterns Align With Bullish Fundamentals
- Will XRP Price Rally to $3 After Bitwise Launches First XRP ETF on NYSE?
