Binance is among the main traders in Elon Musk’s acquisition of Twitter because it seeks a spot for cryptocurrencies on the platform.
Changpeng Zhao (CZ), the CEO of Binance, the world’s main crypto alternate, has revealed that the corporate invested $500 million into Elon Musk’s acquisition to carry Twitter into web3.
He revealed this throughout an interview with CNBC on Monday, including that he needs a spot for the cryptocurrency market on the desk. When requested why he invested in Musk’s Twitter acquisition, CZ mentioned;
“We wish to be sure that crypto has a seat on the desk on the subject of free speech. There are extra tactical issues like we wish to carry Twitter into Web3 after they’re prepared.”
“We wish to guarantee that #crypto has a seat on the desk on the subject of free speech,” says @cz_binance on @binance investing $500M into @elonmusk‘s buy of @twitter. “We wish to assist carry @twitter into Web3 after they’re prepared.” pic.twitter.com/BmbWJqXvul
— Squawk Field (@SquawkCNBC) October 31, 2022
He added that Binance is dedicated to supporting sturdy entrepreneurs like Elon Musk. CZ added that;
“Twitter is a software that I take advantage of lots personally, and I wish to make sure that crypto has a seat on the desk on the subject of free speech. We additionally wish to assist clear up fast issues equivalent to charging for memberships. That may be executed very simply globally utilizing cryptocurrencies as a method of cost.”
Twitter’s new proprietor Elon Musk additionally heads a couple of different corporations, together with Tesla, SpaceX and the Boring Firm. When requested how Musk will take care of the stress of managing quite a few companies, CZ mentioned he believes Elon Musk can deal with the stress that comes with the job. He mentioned;
“Everybody has to take care of the stress that comes with managing companies and the affect of their buddies. If anybody can take the stress, I believe Elon Musk has proven that he can deal with stress.”
Final week, CZ identified that Binance will help Elon Musk’s acquisition of Twitter. The world’s richest individual went on to finish the acquisition a couple of days later.