If Musk and CZ (Changpeng Zhao) are a TV series, then this re-following of each other is definitely a "plot twist" that will amaze the audience. The two giants standing at the forefront of cryptocurrency and technology once parted ways due to the rise and fall of Bitcoin BTC, the concept of decentralization and various market controversies, but now they seem to have found a new round of common goals and choose to join hands again. This makes people in the industry sigh again: there are no eternal enemies or unchanging friends in business cooperation, only constantly changing intersections of interests.
The Beginning of Love and Hate: From Alliance to Breakup
Since 2019, Musk and CZ have become "models of the circle of friends" because of their common enthusiasm for cryptocurrency. At that time, Musk, as the founder of SpaceX and Tesla, endorsed Bitcoin and decentralization; while CZ, through the platform advantage of Binance, brought more ordinary investors into this market. It can be said that Musk is responsible for attracting traffic with the star effect, and CZ is responsible for the trading and circulation of the landing currency. They seem to be a pair of complementary entrepreneurial partners, writing the frenzy years of cryptocurrency together.
However, with the rapid development of the crypto market, contradictions inevitably surfaced. From Musk's fanatical pursuit of Doge, to Tesla's withdrawal from Bitcoin payments and the FTX incident, the two sides have repeatedly confronted each other in front of the stage due to differences in concepts and operating strategies. Especially when the crypto market was at a low point last year, CZ expressed his concerns about "speculation" and indirectly mentioned that the excessive remarks of individual public figures may lead to market instability, which was interpreted by the outside world as an indirect accusation against Musk. Musk was obviously not in the mood to look back calmly. He chose the "cold treatment on social media" - unfollowing Twitter, without saying much, but with a clear attitude.
To the onlookers inside and outside the circle, this split meant that the two influential figures would choose to move forward in different directions. But no one expected that the story would usher in the third act.
Reconnection: A new intersection of interests and ideas
At the end of 2024, a piece of news went viral on Twitter - Musk and CZ followed each other again. Not only that, insiders revealed that the Binance team has recently begun to deeply participate in Musk's X platform crypto payment development project. In an interview, Musk also mentioned CZ's foresight and stability in blockchain technology for the first time, believing that "this is an important driving force for X to develop a payment system."
You know, long before Musk acquired Twitter, he had high expectations for the platform's future plans - a super application that integrates payment, social, AI and even retail functions. Cryptocurrency, as an important component of the payment system, is undoubtedly the key to the plan. Although Musk and CZ may not completely agree on the direction of "decentralization", from the current situation, they are likely to have reached a phased consensus on interests: using encryption technology to strengthen payment scenarios, eliminate the high fees of traditional payment networks, and open up a new market space.
According to the latest information, Binance not only provides technical solutions for X payment, but may also invest in this sector. For Binance, which was once rumored to withdraw its investment in X, this may mean that the relationship between the two giants has returned to the track of rational cooperation.
Breaking the Enemy Ties: A Common Enemy
It is generally believed that another reason for this "settlement" is the increasing regulatory pressure. In recent years, Musk has been involved in disputes with the US Securities and Exchange Commission (SEC) in order to promote Bitcoin and Dogecoin; while CZ's Binance has been caught up in various compliance issues due to its global expansion, and has recently been subject to scrutiny from European and American regulators. In this case, the challenge they face together is how to win the market in the future with lower risks and higher stability, rather than continuing to attack each other on concepts.
Some people call their current relationship the "alliance phase" - using temporary cooperation to counter external pressure and competition. For example, when talking about the development of the payment field, CZ emphasized that "technological improvements require not only innovation, but also large-scale implementation, which is a sign of the maturity of the industry in the next stage." Musk continued to exert his market appeal and released possible applications of encrypted payments on X, such as Bitcoin settlement for subscription members and real-time transfer functions for cross-border payment tools. Behind this kind of public opinion, it is obvious that the two business giants are trying to rebuild the market consensus with products as the core.
The next act of "Love and Hate"
For Musk and CZ, this reunion means a temporary calm, but it is far from enough to resolve all conflicts. They still have different strategic logics: Musk continues to be keen on hyping up the crypto market and promoting public investment enthusiasm; while CZ is more concerned about the stability of the underlying technology and the safe expansion of the Binance ecosystem. In the future, the two may still clash due to strategic differences.
The cryptocurrency industry emphasizes the coexistence of opportunities and risks. For the entire market, Musk and CZ are not only the makers of industry rules, but also important drivers of market dynamics. The development of their relationship is destined to continue to affect the direction of the entire crypto ecosystem. In this unfinished story, we are still looking forward to new plot twists - perhaps a drastic joint cooperation, or a new round of tit-for-tat.
After all, this is the charm of business competition.
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