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Binance’s CZ severs Twitter ties with Elon Musk

binances-cz-severs-twitter-ties-with-elon-musk
Edited by
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Binance’s CZ severs Twitter ties with Elon Musk

In a surprising move, Binance CEO Changpeng Zhao (CZ) decided to unfollow Elon Musk on Twitter.

However, despite this decision, Binance’s spokesperson confirmed that the cryptocurrency exchange’s substantial $500 million investment in Twitter, made last year, remains unaffected.

Strange move by CZ

The unexpected unfollowing of Musk by CZ caught the attention of the crypto community, leading to various theories about the reasons behind the move.

https://twitter.com/breakingwhale/status/1657695521551663104?s=46

One Twitter user, known as Lucra, suggested that the unfollowing could be related to Twitter’s recent partnership with eToro instead of Binance.

Lucra pointed out that CZ had played a role in funding Twitter’s acquisition, but Twitter opted to collaborate with eToro instead.

Last month, the eToro feature was released on the Twitter app enabling users to view market charts and engage in buying and selling activities directly through eToro. 

Additionally, with the Twitter “cashtags” feature allows users to view real-time trading data from TradingView for certain index funds and select company shares by searching for ticker symbols and inserting a dollar sign in front of them.

That said, some news outlets called to attention eToro’s collaboration might’ve been a regulatory decision.

A different perspective

Another Twitter user, going by the name DustyBC, has put forth a different perspective.

DustyBC suggested that CZ’s unfollowing of Musk may be related to Elon’s recent move to bring Twitter in-line with the World Economic Forum (WEF), an organization known to have a contrasting stance on decentralized finance unless they have control over it through central bank digital currencies (CBDCs).

According to DustyBC’s tweet, CZ, being in favor of empowering individuals, may have taken this action as he perceives Elon’s association with the WEF as an attempt to manipulate public opinion through controlled opposition.

DustyBC’s comment highlights the underlying tensions and differing ideologies within the cryptocurrency and decentralized finance communities