Here's Why Binance's CZ Invested in Twitter After Elon Musk Acquisition

"Freedom of speech is a prerequisite for freedom of money, which we are building for," CZ said, highlighting the importance of Twitter as a platform for expressing opinions.

Billionaire Elon Musk's acquisition of Twitter has drawn mixed reactions from the crypto and global communities, sparking discussions about censorship changes, account verification and the launch of new features centered on the crypto and blockchain. However, Binance CEO Changpeng "CZ" Zhao's decision to invest $500 million in the social media site has caught the eye.

Acknowledging the buzz, CZ shared six reasons why he chose to support Twitter and what it can mean for the future of Twitter.

Since the new Twitter sink has been in place, I've been asked about it in every interview. And I had many interviews last week. So, here's a summary.

Why did we do it? 6 reasons.

The main reason CZ invested in Twitter was his belief in free speech. "Freedom of speech is a prerequisite for freedom of money, which we are building for," CZ said while emphasizing the importance of Twitter in providing a common platform where the general public and celebrities can express their opinions.

The second reason for the injection of funds has to do with Binance's support for entrepreneurs. According to CZ, "With Elon at the helm, we believe Twitter will continue to grow and become an impactful platform for everyone."

CZ cited "considerable untapped value" as the third reason for the investment, as he believed the social media platform could provide innovative business models without the need to sell user data. With this potential as a backdrop, CZ offered to help him integrate Web3 for Twitter, which was also his fourth reason.

The fifth, however, was personal to CZ. Twitter has been crucial for CZ in maintaining open communication with the crypto space, including entrepreneurs, investors, journalists, and the general public.

CZ also revealed to have a lookalike...