Binance CEO gives 6 reasons why he decided to help Musk buy Twitter

Billionaire Elon Musk’s acquisition of Twitter has drawn mixed reactions from the cryptocurrency and global community, sparking discussions about changes in censorship, account verification, and the launch of new cryptocurrency and blockchain-focused features.

One of the highlights of these discussions was Binance's decision to provide $ 500 million to Musk to buy the social network. After giving dozens of interviews last week, Changpeng Zhao (known as CZ) decided to voice all the reasons why his exchange supported the purchase.

The main reason CZ invested in Twitter was his belief in freedom of speech. «Freedom of speech is a prerequisite for the freedom of money that we seek,» CZ said, emphasizing the importance of Twitter as a platform where the general public and various figures can express their opinions. By the way, Joe Biden disagrees with Zhao, who criticized the future of the platform.

The second reason for the infusion of funds is related to Binance’s support for entrepreneurs. According to CZ, «with Elon at the helm, we believe Twitter will continue to grow and become an effective platform for everyone.»

CZ cited «huge untapped value» as the third reason for the investment, as he believes the platform can offer innovative business models without the need to sell users' personal data. With this potential in mind, CZ offered to help with Web3 integration for Twitter, which was also his fourth reason.

The fifth reason is a personal one for Zhao. Twitter is crucial for CZ in maintaining open communication with the crypto space, including entrepreneurs, investors, journalists, and the general public.

CZ also stated that he has a similar mindset to Musk — this is the sixth reason — when it comes to making changes to Twitter, including removing bots, adding an edit button, paying for blue ticks, and paying for comments on messages, Zhao agrees with Musk.