CZ Binance, in an interview with CNBC, stated that free speech and Web3 adoption are the primary reasons for Binance Investment in Twitter.
Changpeng Zhao, the founder, and CEO of Binance, appeared in an interview with CNBC today. He discussed the motive of Binance behind investing in Elon Musk’s acquisition of Twitter.
“There are many reasons for supporting the deal. Twitter is a free speech platform, which is global, right? Which is extremely important.
Twitter is a tool that I use personally very heavily, so… We would want to make sure that the crypto has a seat at the table when it comes to free speech. There are more tactical things like we want to help bring Twitter to Web3 when they are ready. And yeah, we want to help solve some of those immediate problems.”CZ Binance
Web3 Integration with the Binance Investment in Twitter
CZ mentioned that they want to help bring Twitter to Web3. Crypto should have a seat at the table when it comes to free speech. With this, there are various speculations by the community on how crypto can be integrated with Twitter.
Renowned crypto trader Ran Neuner believes that Twitter will launch blockchain payments between users soon. He imagines that Bitcoin, Dogecoin, and BUSD will be among the payment options available for users.
The global expansion continues for Binance.
Along with plans to integrate Web3 into Twitter, Binance seems to be in a full-fledged expansion mode. They established yet another subsidiary in Ireland. Last month, the Changpeng Zhao-led exchange successfully registered as a Financial Service Provider in New Zealand. Recently the company also registered in France, Spain, and Italy.
Binance is dominating more than 50% of spot and derivatives trading volume. Along with expanding to various countries, they have introduced zero fees in Bitcoin trading to gain market shares.
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BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.