The head of the crypto giant confirmed this information on Wednesday, during a web summit in Lisbon.
The head of major crypto-asset exchange Binance, which says it owns about 1% of Twitter, said Wednesday that it is ready to help Elon Musk develop the Blue Bird social network in the cryptocurrency sector. “We want to provide great support in everything Twitter can do in crypto and Web 3,” Changpeng Zhao said during a press conference on the sidelines of the Web Summit, Big Block, a new era of the Internet in which cryptocurrencies will be an essential part. From the Digital Economy taking place this week in Lisbon.
“We have all the technology, the knowledge, the products…we are ready to help,” he asserted, while saying he wanted to give Elon Musk “time to take his marks” as the new owner of Twitter.
“He has a lot of people to lay off, a lot of things to change,” even joked Changpeng Zhao, known in the tech world by his initials “CZ.”
“I think he knows how to run a platform. He is a very powerful businessman. (…) He spoke very well about Dogecoin and about charging for tweets, comments and the blue sticker (given for verified accounts). I think all these are being looked at,” he said. But I didn’t ask for a detailed plan.”
A seat on the board?
CZ has also acknowledged the possibility of joining Twitter’s board of directors, if asked by Elon Musk, but she has not yet met him in person.
Several large investment and wealth funds, including the co-founder of software publisher Oracle, Larry Ellison, who wrote a check for $1 billion, or Qatar Holding Company, controlled by Qatar’s sovereign wealth fund, the Qatar Investment Authority, provided about $5.2 billion to help Elon . Musk is funding the acquisition of Twitter.
Cryptocurrency exchange Binance is part of this list of investors with a contribution of $500 million and now owns “just over 1%” of the capital, its leader said.
Cryptocurrency and blockchain technology are one of the hot topics in the 2022 edition of the web summit, which will gather around 70,000 entrepreneurs and investors in the Portuguese capital through Friday.