ChainThink report: On March 5, according to the Financial Times, Musk admitted that the tweet he posted during the multi-billion-dollar litigation surrounding his $44 billion acquisition of Twitter "may not have been my wisest move," as the world's richest individual defends himself in court against allegations of market manipulation.

On Wednesday, he told a San Francisco jury that the tweet was not intended to manipulate Twitter's stock price, at a time when acquisition negotiations were ongoing.

A group of Twitter investors claims they suffered losses after Musk threatened to walk away from the deal to gain leverage in acquisition talks, despite knowing he was legally obligated to complete the $44 billion acquisition.

After signing a binding acquisition agreement in April 2022 and waiving his right to due diligence, Musk quickly began questioning the number of bot accounts on the platform. On May 13, 2022, he tweeted that the deal would be "temporarily paused" unless the company could prove that "spam/fake accounts actually represent less than 5% of users." Twitter’s stock dropped 9% at the opening bell that day.