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Jamie Crawley is a CoinDesk news reporter based in London.

Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Twitter shares were down 6.6% in premarket trading following Elon Musk's decision to scrap his planned $42 billion takeover of the social media platform with fears that legal action could ensue.

  • The stock was trading at $34.40 on the New York Stock Exchange at the time of writing.
  • Tesla CEO Elon Musk scrapped his $42 billion takeover of Twitter, claiming that the number of spam of fake accounts on Twitter was much higher than the 5% it had claimed.
  • Twitter's board said it remained "confident" that the deal will close and planned to pursue legal action to enforce it.
  • Musk is known for his interest in cryptocurrency with his proclamations often having ramifications in the crypto market. He said last month that he saw logic in digital payments being integrated into Twitter.

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Jamie Crawley is a CoinDesk news reporter based in London.


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Jamie Crawley is a CoinDesk news reporter based in London.