Binance: Changpeng Zhao may approach Elon Musk to integrate Twitter into Web3

The founder and CEO of Binance, the world’s largest crypto-currency exchange by trading volume, Changpeng Zhao, also known by his stage name “CZ,” said he is ready to help Twitter’s new owner Elon Musk bring Twitter into the Web3 era.

Changpeng Zhao’s take on Web3 and Twitter

Changpeng Zhao said there are many reasons to support the deal, in which Binance contributed $500 million to Musk’s acquisition of Twitter, in an interview with CNBC’s Squawk Box on October 31. The Binance CEO emphasized throughout the interview that he supports the purchase since Twitter is an important platform for entrepreneurship and free speech around the world, and he also said that he uses Twitter “pretty heavily“.

“We want to make sure that crypto has a seat at the table when it comes to free speech. There are also more tactical things, like we want to help bring Twitter into Web3.”

Tesla CEO Elon Musk is well known for having a strong interest in the crypto-currency market, so Binance’s support should come as no surprise. CZ continues,

“We want to help solve immediate problems like membership billing, etc., this can be done very easily and globally using crypto-currencies as a payment method.”

High hopes raised by Elon Musk’s purchase of Twitter

According to a recent analysis, Musk is the author of the most popular tweets that have mentioned crypto-currencies in recent years. The price of the decentralized finance (DeFi) token has previously risen following Musk’s tweets mentioning it. In the run-up to the Twitter buy, Dogecoin rose 115 percent in a week to regain a 5-month high.

One expectation is that Musk will use DOGE as a tipping mechanism on Twitter, much like Bitcoin (BTC) and Ethereum (ETH). Indeed, the industry knows how much Elon Musk loves this memecoin.