- Changpeng Zhao speaks on why he decided to back Elon Musk’s Twitter deal.
- The Binance CEO funded the deal with $500 million.
- CZ shared his thoughts while speaking at a technology conference in Portugal.
Changpeng Zhao, the CEO of Binance discussed his decision to support the Elon Musk’s Twitter acquisition deal during a speech at a technology conference in Portugal. Zhao has supported Musk in the acquisition processand has gone through a lot of hurdles.
It was revealed that Binance contributed $500 million to the deal, which closed last week, to ensure that Elon Musk would take over as the social media platform’s CEO. Zhao expressed a desire for Binance to play a significant role in the integration of crypto into Twitter.
During the conference, CZ also mentioned that Elon is still deciding about the board. He further added that if Musk insists, he will probably join the board. CZ stressed that he would wait until he could discuss in detail his plan for incorporating blockchain and crypto into Twitter.
CZ discussed his expectations for how crypto should be incorporated into Twitter during a live AMA session on November 1. Musk dropped hints about the platform’s integration of DOGE a few days after the acquisition agreement was finalized.
Additionally, CZ expressed his belief that Musk ought to support additional cryptocurrencies in addition to DOGE and BNB. During an appearance on CNBC’s Squawk Box, CZ stated his desire to help Twitter with entering Web3 once they are prepared.
Concurrently, CZ also talked about the Twitter deal and the variables that influenced his choice to make an investment. He underscores that Twitter is a free-speech platform when discussing a variety of factors that contributed to reaching a successful conclusion.
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