Binance CEO has revealed what’s believed to be the explanation why he invested in Twitter. He mentioned Twitter has excessive worth however has not but exploited its potential and he hopes to assist Twitter combine with Web3 sooner or later.
In line with CNBC, Binance CEO Changpeng Zhao (CZ) revealed the explanation for his $500 million funding in Twitter throughout an interview on Oct. He says Twitter has nice worth, nevertheless it hasn’t been effectively monetized. An excessive amount of pretend information and spam on the Web could have a damaging impression on the data ecosystem.
“I imagine Twitter has not been monetized effectively, it has not grown effectively, there’s many tactical issues like bots that spam my feedback, there’s scammer accounts on there, it’s not being run effectively.”
Apart from, he additionally shared about wanting to assist convey Twitter into the Web3 world.
“We need to assist convey Twitter into Web3 once they’re prepared”
On the identical time, Changpeng Zhao additionally expressed his approval for Musk to run the corporate. Beforehand, CZ was identified to be steadfast and assist each determination of Elon Musk within the acquisition of Twitter.
“However I believe the platform has large worth in itself, and particularly now with Elon on the helm, we’re very assured,”
As was up to date in earlier Coincu Information articles, Elon Musk accomplished the acquisition with Twitter on October 27. As one of many main traders on this acquisition, Binance mentioned it could fashioned a gaggle to analysis to make use of blockchain expertise and cryptocurrencies on Twitter.
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