May 24, 2022

What you need to know

  • Elon Musk announced that the deal to purchase Twitter is temporarily put on hold.
  • Musk wants to confirm that bot/spam accounts only account for roughly 5% of Twitter’s users.
  • He has previously spoken out about wanting to “eliminate” Twitter spam bots.
  • Musk states that he is still committed to the acquisition.

Elon Musk’s acquisition of Twitter is already facing a hurdle after the Tesla CEO announced on Friday that the deal has been put on a temporary hold.

The announcement came as the result of Twitter’s Q1 2022 earnings, outlining the number of fake/spam accounts on the platform. According to the report, these accounts make up less than 5% of the platform’s users. However, the company also noted that this was based on an internal review of sample accounts, saying that it “may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated.”