Tesla CEO Elon Musk changed his name on social media platform X to Kekius Maximus today, causing the similarly named meme coin KEKIUS to explode shortly after.
KEKIUS was trading at $0.08832 at press time, up 504% on the daily chart.
Musk’s Latest Antic Pushes KEKIUS
On December 31, Elon Musk changed the name of his X handle to Kekius Maximus and also changed his profile picture. His profile picture now shows Pepe, the frog, holding a joystick and playing a video game. 
“Kekius Maximus will soon reach level 80 in hardcore PoE,” Musk wrote on Twitter.
Musk, who is a known aficionado of meme coins, also retweeted a post that said, “Elon Musk is now Kekius Maximus.”

It appears traders are profiting from Musk’s antics. A trader who bought KEKIUS for $1,964 two weeks ago now holds a whopping $1.535 million in his hands, according to a crypto analyst on X.
“As Elon Musk changes his name to Kekius Maximus, anon who bought $1,964 KEKIUS 15 days ago have now truned it into $1.535 million. A crazy 780X return. Bro’s now the top 1 holder (2.54%), took $535,000 profit and still counting,” the tweet said.
According to data from CoinGecko, Kekius Maximus’s 24-hour trading volume has hit $35.2 million, while its market cap has crossed $88.32 million after the price shot up.
Kekius Maximus price chart. Source: CoinGecko
Interestingly, this is not the first time Elon Musk has changed his name on Twitter. In January 2023, Musk changed his name to Mr.Tweet. 
“Changed my name to Mr. Tweet, now Twitter won’t let me change it back,” Musk posted.
Another time, Musk changed his X handle to ‘Naughtius Maximus’ before reverting back to his original name.
Moreover, Elon Musk posted a meme depicting Doge last month. Although he directly referred to the Department of Government Efficiency, the meme asset Dogecoin also pumped briefly.
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Elon Musk changed his X name to “Kekius Maximus” and added a Pepe meme as his profile picture.
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Binance, the world's largest cryptocurrency exchange by trading volume, said it invested $500 million as part of $500 million in Elon Musk's $44 billion deal to buy Twitter (TWTR), a small but significant move that fueled speculation the social media company could eventually be powered by blockchain technology

"We wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter,'' tweeted Binance CEO Changpeng Zhao, known as CZ.1 Binance is already said to be forming a team to brainstorm ways blockchain and crypto can benefit Twitter.2
Key Takeaways
Crypto exchange Binance has invested $500 million in Musk's Twitter takeover.With Binance as an investor, speculation about Twitter running on blockchain technology has arisen.For Binance, the deal would bridge social media and news into Web3.

Will Twitter Run on Blockchain?
Musk, who has said Twitter needs to be more decentralized and tweeted "the bird is freed" upon his deal's completion, has long toyed with the concept of linking blockchain to social media.

"The idea of blockchain free speech has been around for a long time," Musk wrote in a text message in March to former Twitter CEO Jack Dorsey. "The questions are really about how to implement it."3

Binance's Backing For Musk's Twitter
Binance first revealed plans to support Musk's acquisition in May. CZ said at the time that it would be a "small contribution to the cause," saying the deal would bridge social media and news into Web3.4

The company's contribution is tiny compared with investments from Morgan Stanley, Bank of America, and Barclays, each of which committed to at least $2.5 billion in debt financing for the deal.5 Other investors include Sequoia Capital, Qatar Investment Authority, and Fidelity Management & Research.6

The Bottom Line
For Binance CEO CZ, the investment is an opportunity to implement Web3. Earlier this year, he made it clear that the exchange's support is conditional, and that he would only support the deal if it was implemented. "If he's [Musk] off, we're off," he said in an interview.7 Considering the drama tied to Twitter's takeover, it won't be surprising if there are more in the months ahead. 
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