Binance CEO claims that Binance wants to assist Elon Musk in bringing Twitter into Web3

Zhao Changpeng, chief executive officer of Binance, poses for a photograph in Tokyo, Japan, on Thursday, Jan. 11, 2018. Photographer: Akio Kon/Bloomberg

Billionaire Changpeng Zhao claims that Binance wants to assist Elon Musk in bringing Twitter into Web3.

The CEO of the world’s largest cryptocurrency exchange by trading volume says he wants to help Twitter transition into the next phase of the internet.

Binance CEO CZ says his company’s $500 million investment in Elon Musk’s Twitter takeover was in the interest of free speech in a new interview with CNBC’s Squawk Box.

During an interview, CZ noted,

“There are more tactical things, we want to bring Twitter into Web3 when they’re ready. We want to help solve those immediate problems like, as you mentioned earlier, charging for memberships and et cetera, that can be done very easily, globally, using cryptocurrency as a means of payments.”

"We want to make sure that #crypto has a seat at the table when it comes to free speech," says @cz_binance on @binance investing $500M into @elonmusk's purchase of @twitter. "We want to help bring @twitter into Web3 when they're ready." pic.twitter.com/BmbWJqXvul
— Squawk Box (@SquawkCNBC) October 31, 2022

Elon Musk, the billionaire Dogecoin (DOGE) supporter, took over Twitter last week in a $44 billion dollar deal that had been in the works for much of 2022.

According to a Reuters report last week, Binance was looking into various crypto-related solutions to some of Twitter’s shortcomings, including spam bots, an issue that nearly forced Tesla CEO Elon Musk to abandon his takeover bid.

TagsCrypto Web3

Roland Guirdonan

Roland is a Public Relations & Communications guru with an immense passion for the blockchain and crypto industry. A fusion of his expertise and passion led to the dawn of Optimisus in 2020.