Elon Musk on the Verge of Trashing Twitter
  • Elon Musk asks Twitter for proof that only 5% of its users are bots/ fake.
  • Data claims that more than 60 million on Musk’s Twitter account alone are bots/ fake.
  • There are currently 217 million monetizable DAU on Twitter.

Tech titan and crypto enthusiast Elon Musk halts the Twitter deal last month while waiting for the supporting details that only 5% of its users are spam or fake accounts.

On Monday, a filing was presented to the SEC in regards to this issue. Twitter CEO Parag Agrawal claimed that the number of fake accounts is less than 5%. However, Musk disclosed in the filing that he disagrees with the firm’s assessment.

The deal won’t move forward unless Twitter proved that spam bots comprised less than 5% of Twitter’s overall users.

On May 9, the SpaceX CEO requested “additional details of the company’s own testing methodologies, whether through written materials or verbal explanations,” supporting Twitter’s claim. However, the social media giant failed to provide this information to date.

Musk believed that Twitter’s “behavior” and “latest correspondence” signifies a breach of the merger agreement, as per the filing. Therefore, he has the right not to proceed with the transaction or terminate the merger agreement.

Meanwhile, a joint analysis of data from an audience research tool Sparktoro and Twitter analytics tool Followerwonk contradicts Twitter’s assessment. The data states that 70.23% of Musk’s Twitter followers are either not authentic or bots.

Elon Musk’s Twitter followers are at 93.4 million accounts (at the time of research). If the data is accurate, this means that there are more than 60 million fake accounts following Musk alone. This proves that there are more than 5% bot accounts on Twitter.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.