Finance & Economics

Binance to Support Twitter’s Blockchain Efforts 

After helping Elon Musk to finance the Twitter acquisition, Binance intends to assist the media platform in developing crypto and blockchain solutions

Binance twitter


According to Reuters, crypto exchange Binance may create a team to work on crypto and blockchain solutions for Twitter. The company previously invested $500 million to enable a $44 billion deal between the social network and tech billionaire Elon Musk.

Binance’s founder and CEO Changpeng “CZ” Zhao confirmed that the money was wired earlier this week through traditional banking services using fiat currency. Zhao called the company’s investment as a “small contribution to the cause,” and expressed his support to the new owner. “I feel much more secure about my Twitter account now that Elon has sink’ed in there,” tweeted CZ.

Elon Musk has previously stated that removing spam and scam bots, including those related to crypto, would be among his top priorities for the company.

Before partnering for Twitter’s acquisition, Musk and CZ had controversies about Dogecoin withdrawal issues last year. 

We have previously reported that Elon Musk has completed the acquisition of the social network platform for $54.2 per share. The new owner immediately fired the company’s top executives and took the company private, resulting in its stock getting delisted from the public market.


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Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.