- Binance CEO Changpeng Zhao shared how Twitter will play a key role in including web3 cryptocurrency-related services on the social media platform.
- In an interview with CNBC’s Squawk Box Show, CZ shared how Binance hopes to support a powerful entrepreneur like Musk and help Twitter embrace the growing web3 mechanics.
With Musk’s acquisition of Twitter, there has been speculation about new changes the Tesla CEO will integrate into the social microblogging site.
With control of Twitter in the hands of the capricious Elon Musk, Binance’s Changpeng Zhao shared a new statement, adding that Twitter will soon become the center of the nascent web3 space.
In an interview with CNBC’s Squawk Box Show, Binance CEO CZ added how Twitter will play a major role by making the growing Web3 practice accessible to the masses.
Twitter and Web3: what happened?
It’s no secret that Binance CEO Changpeng Zhao was one of the few people who invested in Musk’s Twitter acquisition. Zhao publicly confirmed the news on Twitter, adding that the Binance team had wired $500 million to Musk two days before the deal was finalized.
Zhao seems optimist that the “new Twitter” under Musk’s leadership will surely drive the general adoption of cryptocurrencies and Web3. In a recent interview with CNBC’s Squawk Box, Zhao shared that he would like to see Twitter’s onboarding facilities related to cryptocurrencies and Web3 under his domain.
“We want to make sure that cryptocurrencies have a place in free speech. There are more tactical things like how we want to help bring Twitter to Web3,” CZ told CNBC
He later went on to discuss how Binance hopes to support a powerful entrepreneur like Musk and help him support crypto adoption in general.
“We want to help solve immediate problems, such as membership fees that can be easily done with cryptocurrencies.” Zhao later shared
Dogecoin as a potential payment option on Twitter?
Now that Twitter is owned by “Dogefather” Musk, speculation is rife about whether Dogecoin will integrate with the platform for use as a potential payment option on the microblogging site. Musk has yet to confirm the news; however, it has undoubtedly helped the cryptocurrency gain additional traction in the current cryptocurrency market.
According to data shared by Coingecko, Dogecoin has gained 94% over the past week. At the time of writing, the coin is up 8% at $0.124675 in the past 24 hours.
The coin also recorded a significant increase in its trading volume. According to data from Coinmarketcap, Dogecoin is currently trading as high as $5,937,380,022. The token is the third most traded cryptocurrency on Coinbase, accounting for about 14% of the exchange’s total volume.
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