Binance chief executive Changpeng Zhao expressed enthusiasm about his purchase of a minority stake in Elon Musk’s Twitter, underlining that he is «extremely supportive of free speech».
Binance CEO Changpeng Zhao – also known as «CZ» – called himself a «heavy user» of Twitter, where the crypto giant invested into a $500 million minority stake in the social media platform that was recently acquired by Elon Musk.
«I want to invest in products that are important for our industry,» according to a «Reuters» report citing Zhao at Lisbon-based Web Summit, the largest tech conference in Europe.
Free Speech
One of the key factors that drove the purchase of the stake was due to freedom of speech, according to Zhao, calling Twitter a place «where people express their opinions». One week ago, Binance said it was creating a team to work on blockchain and crypto applications that could be helpful to the social media platform.
«It is an important free speech platform – that’s the number one reason,» he said, on his support for the firm.
Last Thursday, Musk finally completed the $44 billion takeover of Twitter after months of uncertainty before immediately firing its top executives.
