Changpeng Zhao (CZ), CEO of Binance, reminded his followers on the X platform of Binance’s $500 million investment in Elon Musk’s Twitter acquisition.
CZ also highlighted Binance’s early and public support for Musk’s bold move, commenting, “Happy to be part of this cause,” along with a screenshot of the Investopedia headline.
When Elon Musk finalized his $44 billion acquisition of Twitter in late 2022, initial public reactions were mixed. Musk’s plan to restructure Twitter and turn it into an “all-in-one app” led the traditional press to predict that the deal would lead to chaos and the platform’s demise. Critics worried about losing advertisers, user churn, and a collapse of moderation.
However, more than a year later, the platform — now known as X — has proven resilient, refuting early skeptics. Notably, X remains the leading platform for cryptocurrency discussions, project announcements, and news updates. The platform continues to excel in its ability to share information in real time, facilitating interactions between crypto enthusiasts, analysts, and industry leaders.
As X remains an indispensable tool for interactions within the Web3 and blockchain communities, Binance’s investment not only secures its rights on the platform but also strengthens the company’s strategic position in the crypto space.
Additionally, the screenshot highlights Naval Ravikant’s analysis of the Twitter acquisition, which he describes as “the most decisive move in the past decade.” Ravikant highlights Elon Musk’s contribution to restoring freedom of speech and reshaping the conversation in a polarized media landscape.
