Elon Musk is quite unpredictable, but this will have a positive effect on the development of Twitter. This was announced by Binance CEO Changpeng Zhao during a web summit in Lisbon.
On October 28, Musk closed a deal to buy the social network for $44 billion. Binance provided $500 million of this amount. Zhao attributed the investment to the struggle for freedom of speech.
“Binance’s goal is to help expand financial independence. And freedom of speech is more important than freedom of money,” he said.
Zhao called Elon Musk a “pretty unpredictable guy,” citing his announced plan to introduce an $8 monthly fee for verified Twitter accounts as an example.
However, the head of Binance expects that under Musk’s leadership, the rate of deployment of new features on the social network will be much faster, even if “not all of them will take root.”
“In fact, I would say that probably most of them will not take root. But this is how the 10% of functions that will remain will be determined,” he explained.
Zhao also reported willingness to join the board of directors of Twitter as a minority shareholder if he is “asked”.
At the same time, he refrained from commenting on integration into the Dogecoin platform. The head of the crypto exchange expects Elon Musk to present a more detailed plan for the implementation of blockchain and cryptocurrencies in the social network in the future. But now, he says, the new owner of Twitter “needs to fire a lot of people and change a lot.”
Speaking about the volatility of the cryptocurrency, the CEO of Binance noted that it is “probably the only stable thing” in a period of financial turmoil:
“If you look at the technology and the fundamentals of cryptocurrencies, the supply is limited, nothing has changed.”
Zhao spoke positively of US regulators, pointing to the high level of banking support for bitcoin exchanges in the country.
“Thanks to the automated clearing house protocol, exchanges in the US can automatically deduct money from a user’s bank account every month. In other parts of the world, we do not yet receive this level of support,” explained the head of Binance.
However, he acknowledged the strictness of US regulators regarding cryptocurrency derivatives, adding that “few companies have received licenses for this type of activity.”
Recall that in September, Changpeng Zhao said that in the long term, bearish sentiment is more beneficial for the cryptocurrency market than a seemingly endless uptrend.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
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Elon Musk is quite unpredictable, but this will have a positive effect on the development of Twitter. This was announced by Binance CEO Changpeng Zhao during a web summit in Lisbon.
On October 28, Musk closed a deal to buy the social network for $44 billion. Binance provided $500 million of this amount. Zhao attributed the investment to the struggle for freedom of speech.
“Binance’s goal is to help expand financial independence. And freedom of speech is more important than freedom of money,” he said.
Zhao called Elon Musk a “pretty unpredictable guy,” citing his announced plan to introduce an $8 monthly fee for verified Twitter accounts as an example.
However, the head of Binance expects that under Musk’s leadership, the rate of deployment of new features on the social network will be much faster, even if “not all of them will take root.”
“In fact, I would say that probably most of them will not take root. But this is how the 10% of functions that will remain will be determined,” he explained.
Zhao also reported willingness to join the board of directors of Twitter as a minority shareholder if he is “asked”.
At the same time, he refrained from commenting on integration into the Dogecoin platform. The head of the crypto exchange expects Elon Musk to present a more detailed plan for the implementation of blockchain and cryptocurrencies in the social network in the future. But now, he says, the new owner of Twitter “needs to fire a lot of people and change a lot.”
Speaking about the volatility of the cryptocurrency, the CEO of Binance noted that it is “probably the only stable thing” in a period of financial turmoil:
“If you look at the technology and the fundamentals of cryptocurrencies, the supply is limited, nothing has changed.”
Zhao spoke positively of US regulators, pointing to the high level of banking support for bitcoin exchanges in the country.
“Thanks to the automated clearing house protocol, exchanges in the US can automatically deduct money from a user’s bank account every month. In other parts of the world, we do not yet receive this level of support,” explained the head of Binance.
However, he acknowledged the strictness of US regulators regarding cryptocurrency derivatives, adding that “few companies have received licenses for this type of activity.”
Recall that in September, Changpeng Zhao said that in the long term, bearish sentiment is more beneficial for the cryptocurrency market than a seemingly endless uptrend.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
