CZ (Zhao Changpeng), the founder of the cryptocurrency exchange Binance, and Tesla CEO Musk's interaction on the X platform (formerly Twitter) has once again become a topic of discussion. Their past occasional mutual attention and cancellation of each other's accounts have always been seen by the outside world as a symbol of their ambiguous relationship.
Today, CZ retweeted a news article about Binance's participation in Musk's acquisition of Twitter, emphasizing that Binance had invested $500 million in this transaction, and wrote: "Glad to be able to contribute to the Twitter acquisition!" Musk immediately responded "Thank you!" and re-clicked to follow CZ, a move that was also interpreted as a signal of the thawing of their relationship.
Six Reasons for CZ's Investment in Twitter
In 2022, after Musk completed the $44 billion Twitter acquisition, Binance CEO Zhao Changpeng (CZ) was interviewed by CNBC and stated that he hopes to help bring web3 elements into Twitter, and he also posted an article outlining six reasons for investing in Twitter:
- Support for freedom of speech, and calling Twitter the global Townsquare. Regardless of one's background, Twitter has given us a voice; regardless of short-term stock price fluctuations or market conditions, freedom of speech is a prerequisite for financial freedom.
- Support for entrepreneurs, Elon Musk is a powerful entrepreneur, and CZ believes that under his helm, Twitter will continue to develop and become a platform that has an impact on everyone.
- Believe that Twitter has tremendous untapped value, Twitter has not yet found a suitable business model, and Elon Musk and cryptocurrency technology can innovate a business model without selling user data.
- Binance can help Twitter with Web3.0 integration, as Binance is the largest liquidity provider.
- CZ often uses Twitter, as the saying goes, invest in the products you use (not financial advice).
- Binance wants to help solve problems, and product iteration for Twitter is CZ's wish, including eliminating bots, adding an edit button, paying for blue ticks, and paying for post comments.
CZ Has Unfollowed Musk Multiple Times
Unexpectedly, after the acquisition, Musk invited the eToro trading platform to join Twitter as a subsequent cryptocurrency trading partner, rather than Binance. In addition, CZ had previously assisted in funding Musk's acquisition of Twitter. The community pointed out that this move by Musk left CZ feeling disappointed, and the two had a rift, so CZ unfollowed Musk.
In November this year, CZ unfollowed Musk again, which seemed to further confirm the distance between the two. However, looking back on their past interactions, it may be found that what CZ truly values is not just a close business cooperation, but perhaps a simple thank-you from Musk, a recognition of their shared vision and mutual appreciation. For CZ, being able to establish a spiritual-level identity with like-minded industry leaders is far more valuable than a purely interest-based relationship.
Their recent renewed interaction may be a new beginning, and it remains to be seen whether these two representatives of the cryptocurrency and technology fields will be able to work together again in the future.
