Why The Largest Crypto Exchange Supports Musk’s Twitter Purchase

Changpeng Zhao, CEO and creator of Binance, made waves outside of web3 as an investor in Elon Musk’s Twitter purchase. At this week’s Web Summit in Lisbon, Portugal, Zhao, who invested $500 million, said he would consider joining the board of the social media business if Musk asked him to.
Why, therefore, would he want to get his hands dirty with the complicated business of social media when crypto is Binance’s bread and butter? The question boils down to this: what are we gaining from this deal?

Why The Largest Crypto Exchange Supports Musk's Twitter Purchase
Why The Largest Crypto Exchange Supports Musk’s Twitter Purchase

This week’s episode of Chain Reaction, in which we explain the current developments in the cryptocurrency world block by block, aims to address this topic.

In addition, we discussed the recent line of events that have plagued the bitcoin mining industry, from Argo Blockchain to Core Scientific, and what it would take to uncover (ha ha, get it?) the sector from its tribulations.
Potential repercussions for web3 artists in light of the decision by NFT marketplaces like LooksRare and Magic Eden to stop paying creator royalties.

We will be sure to question Zhao about his future plans for Twitter when he joins us as a speaker at our upcoming crypto event in Miami on November 17th. Use the discount code REACT to save 15% on a General Admission ticket to the event if you’re interested in attending and hearing more.
If you want to stay in the loop, subscribe to Chain Reaction on Apple Podcasts, Spotify, or wherever you get your podcast fix to get new episodes every Tuesday and Thursday at noon Pacific Time.

 

Scroll to Top