Cheers and fears of Musk's $44 billion Twitter deal.

Political activists predict that under a Musk administration, there will be less moderation and the reinstatement of prohibited individuals such as former President Donald Trump.

Musk has also campaigned for changes to the service that would make it more user-friendly, including as an edit button and a way to combat "spam bots" that send out a large number of unwelcome tweets.

Discussions over the transaction, which appeared to be in jeopardy last week.

Twitter began negotiating with Musk to buy the firm at Musk's suggested $54.20 per share price under duress.

The White House declined to comment on the takeover but spokesperson Jen Psaki told reporters: "No matter who owns or runs Twitter, the president has long been concerned about the power of large social media platforms."

In a statement, Musk added, "Free speech is the core of a functional democracy, and Twitter is the digital town square where subjects crucial to humanity's future are debated."

Late Monday, former Twitter CEO Jack Dorsey weighed in on the transaction with a series of tweets thanking both parties.

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