Changpeng Zhao, popularly known by his stage moniker "CZ," is the founder and CEO of Binance, the largest cryptocurrency exchange by transaction volume in the world. He has said he is eager to help Twitter's new owner, Elon Musk, transition the social media platform into the Web3 era.
With Elon Musk to talk about how Twitter might be incorporated into Web3.
Changpeng Zhao, popularly known by his stage moniker "CZ," is the founder and CEO of Binance, the largest cryptocurrency exchange by transaction volume in the world. He has said he is eager to help Twitter's new owner, Elon Musk, transition the social media platform into the Web3 era.
CZ's View on Twitter and Web3
In an interview with CNBC's Squawk Box on October 31, CZ stated that there are many reasons to support the transaction, in which Binance donated $500 million to Musk's acquisition of Twitter. The CEO of Binance emphasised throughout the discussion that he approves of the acquisition because Twitter is a vital medium for global free speech and entrepreneurship. He also claimed to use Twitter "very heavily."
When it comes to free expression, we want to make sure that crypto has a place at the table. There are also more practical matters, such as our desire to assist Twitter in becoming Web3.
Binance's support shouldn't come as a surprise because Elon Musk, the CEO of Tesla, is well known for having a keen interest in the cryptocurrency business. CZ added the following:
We wish to assist in resolving urgent issues like charging for membership, which can be accomplished quickly and internationally by using cryptocurrency as a form of payment.
High Expectations for Elon's Twitter Acquisition
A recent investigation found that Musk is the author of the tweets that have mentioned bitcoin the most frequently in recent years. Previously, Musk's tweets mentioning the decentralised finance (DeFi) token caused its price to rise. The price of Dogecoin rose by 115% in a week to retake a 5-month high as the Twitter deal got closer.
Notably, it's anticipated that Musk will utilise DOGE on Twitter to tip other users, same to how Bitcoin (BTC) and Ethereum (ETH) are used. This is because the business community is aware of Elon's enthusiasm for the memecoin inspired by dogs.
