💨 Abstract

Wall Street banks are hoping to offload $13 billion of debt related to Elon Musk's purchase of Twitter, as they believe Musk's association with President-elect Donald Trump could boost the platform's prospects. Banks have been stuck holding the debt since Musk's purchase in 2022, due to reduced value from lost advertisers and increased risk of default.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖