Coinbase CEO: Elon Musk Buying Twitter Is A 'Great Win' For Free Speech

Brian Armstrong, founder and chief executive of cryptocurrency exchange Coinbase Global Inc COIN, has voiced his approval of Tesla Inc TSLA CEO Elon Musk’s takeover of Twitter Inc TWTR.

What Happened: In a series of tweets on Tuesday, Armstrong said Musk's $44 billion acquisition of Twitter is a “great win” for free speech.

Armstrong called the work to be done at Twitter “a turnaround job” and commended Musk for taking on the challenge.

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See Also: Shark Tank's Kevin O'Leary Says Twitter's Biggest Risk Is If Elon Musk 'Goes Away'

The Coinbase CEO’s views were shared by other tech leaders, including former Twitter CEO Jack Dorsey.

"Elon’s goal of creating a platform that is 'maximally trusted and broadly inclusive' is the right one," Dorsey said on Tuesday, adding that he did not in principle believe that an individual or company should run Twitter.

On April 25, Twitter accepted Musk’s offer. The value of Dogecoin DOGE/USD  rallied 26% over the following 24 hours, leading to over $20 million worth of liquidations for short-sellers of the meme coin.

Read Next: HOW TO BUY DOGECOIN (DOGE)

Price Action: According to data from Benzinga Pro, Coinbase shares closed 5.91% lower on Tuesday. Twitter shares fell 3.89%.

Photo courtesy: TechCrunch on Wikimedia