Banks Move to Reduce Debt Exposure Amid X’s Financial Struggles
Reading Time : 2 minutesBanks are strategically moving to reduce their exposure from the $13 billion debt tied to Elon Musk’s acquisition of X, formerly Twitter. With a $3 billion debt sale led by Morgan Stanley on the horizon, they aim to attract institutional investors amid X’s significant decline in valuation and ongoing financial challenges, including stagnant user growth and reduced ad revenue.