Twitter's takeover by billionaire <a href="https://www.cryptoknowmics.com/news/deso-is-elon-musk-and-jack-dorseys-answer-for-decentralized-social-blockchain">Elon Musk</a> drew conflicting responses from the cryptocurrency and international communities, igniting concerns about censorship reforms, account authentication, and the introduction of new <a href="https://www.cryptoknowmics.com/news/cftc-strikes-order-against-fraudulent-cryptocurrency-arbitrage-company">cryptocurrency</a> and blockchain-focused features. <a href="https://www.cryptoknowmics.com/news/binance-may-spend-over-1-billion-this-year-on-deals-cz-says">Changpeng "CZ" Zhao</a>, CEO of Binance, gained attention for supporting the takeover of Twitter by Elon Musk and the investment of $500 million in the social media platform.

CZ acknowledged the hype and gave six <a href="https://twitter.com/cz_binance/status/1588634659738779648?" target="_blank" rel="nofollow noopener">justifications</a> for his decision to support <a href="https://www.cryptoknowmics.com/news/binance-to-help-twitter-fight-bot-accounts-using-blockchain-technology">Twitter</a> and what it may signify for its future.

[embed]https://twitter.com/cz_binance/status/1588634659738779648?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1588634659738779648%7Ctwgr%5E17bf5a56af99e51470affee3731391d276012249%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cryptoknowmics.com%2Fnews%2Fwp-admin%2Fpost.php%3Fpost%3D249148action%3Dedit[/embed]
<h2>Six Justifications by CZ Binance for Twitter Investment</h2>
CZ's commitment to free expression was the main driver for his investment in Twitter. Changpeng emphasized the significance of Twitter in offering a shared platform where the public and notable personalities may speak their ideas.

The second justification for the infusion of capital is connected to <a href="https://www.cryptoknowmics.com/news/binance-ceo-zhao-is-considering-acquiring-banks-report">Binance's</a> encouragement of business people. According to CZ, the third justification for the investment was that the social media platform might provide novel business strategies without needing to sell user data.
<h2>Assistance to Web3 Integration</h2>
CZ offered assistance with Web3 connectivity for Twitter with this possibility as his background, which was also his fourth justification. But CZ's fifth reason was a private one. To keep open contact with the cryptocurrency world, including business owners, investors, journalists, and the general population, CZ has relied heavily on Twitter.

The sixth reason, according to Changpeng, is that he shares Musk's viewpoint on how Twitter should be changed, including getting rid of bots, the addition of an edit function, paying for blue ticks, and charging for commenting on tweets.

CZ Binance Shares Reasons for Twitter Investment and Support for Musk

CZ Binance acknowledged the hype and gave six justifications for his investment in Twitter and what it may signify for its future.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

CZ Binance Shares Reasons for Twitter Investment and Support for Musk

Top Picks