July 21, 2024

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Why did Elon Musk’s buy of Twitter embody $500 million from Binance, the most important cryptocurrency trade on this planet?

The trade platform’s creator and CEO, Changpeng Zhao, well-known by his alias CZ, defined the choice at the moment.

CZ gave three causes for why Binance was backing Musk’s Twitter marketing campaign…

First, to help worldwide freedom of expression. That is strictly how he sees the social community. He mentioned, “That is something incredibly significant.”

Second, Binance likes supporting “excellent entrepreneurs.” The CEO of Binance believes that Elon Musk, the founding father of companies like Tesla and SpaceX, is a incredible businessman.

Third, the potential for Twitter to develop right into a “super app”. Musk himself had beforehand made a remark about this. Zhao likens WeChat, a Chinese platform that mixes a social community, a commerce web site, and a strategy to make funds, to Twitter.

“We want to help bring Twitter to Web3 and help solve problems like charging for subscriptions. Something that could be done very easily globally using cryptocurrencies as a means of payment.” Changpeng Zhao, CEO of Binance added.

CZ rushed in as quickly as Musk introduced his need to purchase the social community, making little effort to maintain their $500 million contribution to the buyout a secret.

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

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