BinanceChief Executive OfficerChangpeng Zhaohas shared the reason for his company's participation in the funding ofTesla IncTSLA CEOElon Musks $44 billiontakeover of Twitter.
What Happened:Zhao, also known as CZ, said one of the reasons why he supported Musks purchase of Twitter was because we want to be extremely supportive of free speech,reportedReuters.
The cryptocurrency entrepreneur reportedly said at Web Summit the largest technology conference in Europe that Twitter is "where people express their opinions."
"It is an important free speech platform – that's the number one reason," said Zhao, according to Reuters.
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Why It Matters:The Binance CEO is an active Twitter user with over 7.2 million followers.
Zhao revealed last week that Binance, the largest spot cryptocurrency exchange in the world, invested $500 million towards the acquisition of Twitter.
At the time, Zhao revealed the transaction was done through traditional banking methods rather than a cryptocurrency likeBitcoinBTC/USD .
On Binances ownership of Twitter, Zhao had said, We are small potatoes.
Binance rival FTX's CEOSam Bankman-Fried,meanwhile, is reportedly looking tocash out of Twitter.
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Photo courtesy:Web Summiton Flickr
