Biden blasts Elon Musk's Twitter as platform that 'spews lies': Bloomberg

U.S. President Joe Biden has referred to Twitter as “an outfit that sends and spews lies all across the world.”

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The president’s comments come shortly after Elon Musk acquired the social media giant for $44 billion.

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U.S. President Joe Biden referred to Twitter as "an outfit that sends and spews lies all across the world."

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His remarks were made during a fundraiser in Chicago on Friday, Bloomberg reported. Biden also said: "There's no editors anymore," and asked: "How do we expect kids to be able to understand what is at stake?"

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The president's comments came shortly after Elon Musk acquired the social media giant — which is the platform of choice for the majority of individuals and projects in the blockchain and cryptocurrency industry — for $44 billion.

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The Tesla and SpaceX CEO has already removed most of Twitter's high-ranking executives and board and is reportedly firing about half of the company's employees.

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Many, from individuals to civil rights groups to the president, have expressed concern about the potential lack of content moderation on a version of Twitter owned by Musk — a self-professed proponent of free speech.

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Conversely, a multitude of crypto participants have taken a celebratory stance toward Musk's acquisition of the popular platform, as his free-speech stance may seem to align with the crypto ethos of censorship resistance.

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Recently, Binance CEO Changpeng Zhao — who commended a digital asset reports released by the Biden administration in September — said he’d be willing to join Twitter’s board of directors if invited by Musk.