Binance CEO Hopes To Help Twitter Integrate With Web3

Binance CEO has revealed what is believed to be the reason why he invested in Twitter. He said Twitter has high value but has not yet exploited its potential and he hopes to help Twitter integrate with Web3 in the future.

According to CNBC, Binance CEO Changpeng Zhao (CZ) revealed the reason for his $500 million investment in Twitter during an interview on Oct. He says Twitter has great value, but it hasn’t been well monetized. Too much fake news and spam on the Internet will have a negative impact on the information ecosystem.

“I believe Twitter has not been monetized well, it has not grown well, there’s many tactical problems like bots that spam my comments, there’s scammer accounts on there, it’s not being run well.”

Besides, he also shared about wanting to help bring Twitter into the Web3 world.

“We want to help bring Twitter into Web3 when they’re ready”

At the same time, Changpeng Zhao also expressed his approval for Musk to run the company. Previously, CZ was known to be steadfast and support every decision of Elon Musk in the acquisition of Twitter.

“But I think the platform has huge value in itself, and especially now with Elon at the helm, we’re very confident,”

As was updated in previous Coincu News articles, Elon Musk completed the acquisition with Twitter on October 27. As one of the major investors in this acquisition, Binance said it would formed a group to research to use blockchain technology and cryptocurrencies on Twitter.

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