Binance US Plans To Invest In Twitter

One of the most exciting news is that Binance US is planning to invest in Twitter. It has offered $500 million to Elon Musk with 18 other investors. Binance is the largest cryptocurrency exchange by trading volume. The plan to invest in Elon Musk’s $44 billion Twitter investment might bolster crypto fans’ hopes. Now they will hope for a more crypto-friendly platform to diversify their crypto portfolio

Binance intends to spend $500 million in equity capital. Other investors include Oracle venture capital firm Sequoia Capital and co-founder Larry Ellison. 

Binance US Intends To Integrate Web3 With Twitter

Binance is the largest cryptocurrency exchange by trading volume. The daily trading volume is over $70 billion. The CEO of Binance, Changpeng Zhao, is a firm believer in the crypto community’s vision of web3.

Web3 is a concept that refers to new web experiences based on blockchain. It is a technology that supports many cryptocurrencies. NFTs might be incorporated into web browsers, social media, and video games.

Zhao’s attempt to actualize Web3’s decentralized goals can be through a Binance US share on Twitter.

Zhao told CNBC on Thursday:

We’re happy to be able to help Elon realize a new vision for Twitter.

He was quite optimistic about the future of Twitter and web3 together. However, he claimed that he wanted to play his role to promote the use of blockchain technology and crypto. 

The former CEO of Twitter, Jack Dorsey played a crucial role in the development of a program aimed at building decentralized social media protocols. BlueSky was an initiative that was found to cater to the issue of a few renowned companies controlling the most popular web series. 

Bluesky claims that it is an “independent firm” while being backed by Twitter. The board members of Bluesky include members who are highly backed by Dorsey and are strong backers of bitcoin. 

In a recent tweet, Dorsey stated,

“I don’t believe anyone should own or manage Twitter. It should be a public share, not a firm.”