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Binance Invests $500 Million in Twitter After Elon Musk’s Purchase

CZ Binance Invests in Twitter After Elon Musk Purchases

Earlier today, Binance, the biggest cryptocurrency exchange in the world, invested $500 million in Twitter. Sequoia Capital followed this investment by investing more than $800 million. According to a tweet by Changpeng Zhao, this investment is a small contribution to the cause started by Elon Musk. By that, we assume that he, as well as everyone investing in Twitter, is supporting the freedom of speech promoted by Musk.

Regulatory Approval of Binance Exchange in France

Just earlier this week, Binance officially announced that it has become the first-ever regulated digital asset service provider (DASP) in France. This is huge for Binance and the crypto market as a whole, especially during the times that the world has gone through these past years. Understanding how big this is, it would not come as a surprise if BNB skyrockets these upcoming weeks.

Elon Musk and CZ Binance on Twitter

The relationship between Elon Musk and CZ Binance has always been uncertain. These two were often involved in debates, going back and forth with each other. Although sometimes they supported each other, there were several times when they disagreed. For instance, Dogecoin users were having issues depositing and withdrawing DOGE from Binance, and Musk called CZ out publicly on Twitter. The issue was later fixed, however. Such debates between the two have left people, especially the crypto community, wondering about the type of relations that these two have.

Twitter, Crypto, and NFTs

After the purchase of Twitter from Elon Musk, the Twitter community has been urging him to implement blockchain technology. Although Bitcoin tips are available, people want to be able to use other blockchains as well, including the famous Dogecoin. Moreover, they want Elon Musk to provide everyone with the right to use their non-fungible tokens (NFTs) as profile pictures. As of right now, only users with Twitter Blue can use their NFTs as PFPs. And lastly, users want Musk to save them from bots, literally. Currently, Twitter is flooded with bots who are tirelessly working to scam people. Each hour, these bots tag thousands of people in fraudulent tweets, hoping that they will fall prey to it.

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