NewsletterBinance CEO May Reach Out to Elon Musk for ‘Bringing Twitter into Web3’
The founder and CEO of Binance, the largest cryptocurrency exchange by transaction volume in the world, Changpeng Zhao, also known by his stage name “CZ,” has stated that he is willing to assist Twitter’s new owner, Elon Musk, in bringing the social media platform into the Web3 era.
CZ’s Take on Web3 and Twitter
CZ said there are numerous reasons to embrace the agreement, in which Binance contributed $500 million into Musk’s acquisition of Twitter, in an interview with CNBC’s Squawk Box on October 31. The CEO of Binance highlighted throughout the interview that he supports the purchase since Twitter is a significant platform for entrepreneurship and worldwide free speech, and he also said that he uses Twitter “quite heavily.”
“We want to make sure that crypto has a seat at the table when it comes to free speech. There are also more tactical things, like we want to help bring Twitter into Web3.”
Elon Musk the CEO of Tesla, is well known for having a strong interest in the cryptocurrency market, thus Binance’s backing shouldn’t be a surprise. CZ further went on to say,
“We want to help solve immediate problems like charging for membership etc, this can be done very easily and globally using cryptocurrencies as a means of payment.”
High Hopes from Elon’s Twitter Purchase
According to a recent analysis, Musk is the writer of the most well-liked tweets that have mentioned cryptocurrency in recent years. The price of the decentralized finance (DeFi) token has previously increased as a result of Musk’s tweets mentioning it. As the Twitter purchase approached, Dogecoin increased by 115% in a week to retake a 5-month high.
Notably, there is expectation that Musk will use DOGE as a tipping mechanism on Twitter, much like how Bitcoin (BTC) and Ethereum (ETH) are used. This is because, the industry knows how much Elon loves the dog inspired memecoin.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- CoinShares Ends Push for XRP, Solana and Litecoin ETFs With Latest SEC Filing
- BlackRock Buys $589M in Bitcoin and Ethereum as Crypto Market Recovers
- Bitcoin Maximalist Max Keiser Predicts ZEC Crash To $55 as Zcash Extends Decline
- Cardano News: ADA Ecosystem Proposes ‘Critical Integrations Budget’ To Advance Network Growth
- CME Crypto Markets Reopen After Data-Centre Cooling Issue
- XRP Price Forms Alarming Death Cross Amid Intense Whale Dumping
- Chainlink Price Outlook as Reserve Nears 1M LINK — Bullish Shift Ahead?
- Solana Price Set for Upside as SOL Hits Record 99% Tokenized Stock Share
- Is XRP Price Gearing Up for a Rally as Reserves Collapse?
- Dogecoin Price Hovers Above $0.15 as Bulls Eye a Fresh Breakout
- Shiba Inu Price Could Rally As SHIB Burn Rate Surges 790% in 24H
