Following Elon Musk’s takeover of Twitter, Binance CEO Changpeng Zhao believes crypto needs a “seat at the table.”
Binance CEO Changpeng ‘CZ’ Zhao stated in an interview that he wants to ensure that crypto and Web3 are a part of Twitter’s future after supporting Elon Musk’s takeover of the social media platform.
“We want to make sure crypto has a seat at the table when it comes to free speech,” Zhao told CNBC, adding that “there are more tactical things we want to bring into Web3 when they’re ready.”
Binance has invested $500 million in Musk’s takeover and has already formed an internal team to assist the billionaire in his battle against bot accounts.
Zhao elaborated on other potential use cases for cryptocurrency on Twitter in the interview, saying that plans for a paid subscription could be “done very easily, globally, using cryptocurrencies as a means of payment.”
He also backed Musk’s ability to deal with the challenges of running multiple businesses at the same time.
“If anyone can handle pressure, I believe Elon Musk has demonstrated that he can.”
Musk’s Twitter plans and cryptocurrency
Since Musk’s bid for Twitter became public, speculation has swirled about how much of his vision for the company might include elements of crypto and Web3.
In a statement last week about the reasons he bought Twitter, the Tesla founder made no mention of crypto or blockchain ideas, instead citing his belief in the importance of a “common digital town square.”
Nonetheless, he has stated his willingness to consider blockchain-based solutions in order to achieve that goal. In leaked messages revealed last month, he proposed charging users a small fee to register messages on-chain in order to make spamming too expensive for bots and scammers.
