Changpeng Zhao Explains Why Binance Gave $500M for Twitter Buyout

Changpeng Zhao CEO of the largest exchange in the world, mentioned the reasons why he decided to support Musk in the purchase of Twitter

Changpeng Zhao CEO mentions that I want to support the arrival of the social network in the world of web3. Also, that Twitter seems like a social network for freedom of expression

This Monday, October 31, the CEO of binance in an interview conducted by Squak Box, an American medium CNBC, Changpeng Zhao mentioned three reasons why he supported Musk in the purchase of twitter.

I mention that one of the main reasons is to be able to support freedom of expression worldwide. For the CEO of Binance, the social network represents that, emphasizing:

That is extremely important

Also, I mention, that at Binance they like to support big businessmen. So, in the eyes of Binance CEO Changpeng Zhao, Musk is precisely a great businessman. It is worth mentioning that Musk is CEO of large companies such as Tesla or SpaceX.

Although the position of the CEO of Binance dates from last May. In addition, the figure of 500 million dollars, had already been released.

Finally, Zhao mentions that Twitter has great potential, to be able to compare to Wechat, which is a social network that works in China, on this platform the social network, shopping platforms and means of electronic payments work together.

“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 de Binance.

Many investors are speculating that Musk will add DOGE as a platform coin, causing the coin to double in price.

DOGE Price
At the time of writing this article DOGE costs $0.14

Source image: Coinmarketcap

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