The United States Treasury Secretary Janet Yellen denied the idea of Joe Biden investigating multibillionaire Elon Musk’s $44 billion acquisition of Twitter. Recently, the president of the United States wanted to know about Elon Musk’s Twitter deal, which was funded by some South Arabian investors.
Biden stated that “I think that Elon Musk’s cooperation and technical relationships with other countries are worthy of being looked at, whether or not he is doing anything inappropriate. I am not suggesting that. I am suggesting that it’s worth looking at.”
Janet Yellen recently reacted to the idea, saying that it was not that necessary to start an investigation into Musk. Jannet Yellen also included the reports that Elon Musk spent his secured $7.1 billion (USD) in reserves and that some of the billionaire investors invested a small amount on Twitter. As per the reports, the investors are from China and the Middle East, and his recent visit to Vladmir Putin raised more doubts about Musk’s funding.
Musk stated that Twitter loses $4 million (USD) per day. He noticed that popular corporate companies have stopped advertising on the platform, even though nothing has changed with content moderation on Twitter. As per the reports, the platform earns 90% of the company’s revenue from advertisers.
Recently, Yellen reacted to the regulation of cryptocurrency in the United States. The US Treasury Secretary, Janet Yellen, officially stated that the country needs rigid regulations on the crypto industry. The lawmakers also accepted the idea of Janet Yellen; they said now is the time to implement new regulations on cryptocurrency.
“The recent failure of a major cryptocurrency exchange and the unfortunate impact that has resulted for holders and investors of crypto assets demonstrate the need for more effective oversight of cryptocurrency markets,” Janet Yellen added further.
In the G20 summit held in Bali, Indonesia, Yellen stated that “over the next couple of years, I definitely think that inflation will come back down to levels closer to the normal levels we are accustomed to.” She further added, “I think we see some good indications that inflation is poised to come down.” Janet Yellen mainly believes the economic market requires government regulation and she values low unemployment over low inflation.
Janet Yellen further reacted to the situation of the Russia-Ukraine war at the recent G20 summit. She said, “It remains the single best thing we can do to help the global economy. Both of our countries are committed to holding Russia accountable for its horrific actions, and we must support brave Ukrainians as they defend their homeland and rebuild.”
Source: https://www.thecoinrepublic.com/2022/11/18/janet-yellen-stated-that-there-is-no-need-to-investigate-elon-musks-purchase-of-twitter/