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Changpeng Zhao: We will help integrate cryptocurrency payments into Twitter

The CEO of Binance said that he has invested $500 million in Twitter because he wants to fix the flaws that hinder the development of the project and the implementation of crypto payments.

According to Changpeng Zhao, Twitter is poorly monetized and has many technical problems such as bots. However, despite the shortcomings, the platform has tremendous value.

The Binance CEO said he had no hesitation investing in Twitter along with other companies such as Sequoia Capital Fund, Fidelity Management and Research. According to him, Twitter supports freedom of speech for the crypto community:

“We, long-term investors, believe in strong entrepreneurs and reliable platforms. We believe in freedom of speech and look at it all from the point of view of 10, 20, 50, 100 years, so a small monthly fluctuation in prices does not bother us.”

Zhao said he invested because he hopes to play a role in Twitter’s eventual transition to Web3, for example by adding crypto-based payments.

“We want to help the messenger solve such pressing issues as charging for community membership, which can be very easily implemented using cryptocurrencies as a means of payment,” explained the CEO of Binance.

In addition to investing half a billion US dollars, Binance is creating a separate division that will help the social network Twitter fight bot accounts using blockchain technology.

Source: Bits

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