Changpeng Zhao spoke about Twitter and digital currency integration on an “Ask Me Anything” hosted on Tuesday.
The Binance CEO opined that the social network now led by Elon Musk should explore onboarding several cryptocurrencies, not just Dogecoin and BNB.
Anticipation and speculation flooded crypto Twitter timelines after Musk teased the meme coin community via a Halloween post.
Binance CEO Changpeng Zhao shared insight on how Twitter might approach fielding support for digital currencies under the leadership of billionaire entrepreneur Elon Musk who recently acquired the social network for $44 billion.
Notably, Binance confirmed its position as an equity investor in the deal. Zhao verified that the leading crypto exchange invested $500 million to back Elon’s Twitter buyout.
Speaking on an AMA via Twitter Spaces on Tuesday, CZ opined that the social network should consider supporting a wide range of cryptocurrencies. Twitter currently supports Bitcoin (BTC) tips via the Lightning Network. Tips in Ether (ETH) are also supported at press time.
Zhao remarked that the social network shouldn’t just onboard Dogecoin and BNB. “Twitter should support multiple cryptocurrencies” CZ mentioned during the space. Since Elon Musk dissolved the company’s board and plans to lead as CEO for now, it’s unclear what say equity investors like Zhao’s Binance might have in decisions.
However, CZ publicly said that Binance will support Elon Musk and help transition the social network into web3.
Binance AMA On Twitter’s Web3 Future Amid Dogecoin Surge
Sentiment on crypto Twitter suggests that Dogecoin integration might come on the heels of Musk’s acquisitions. The new CEO has previously expressed appreciation for the leading meme coin, saluting the token as “the people’s crypto” in a 2021 tweet.
The speculations were supposedly further stirred up after Elon Musk, Twitter’s latest Complaint Hotline Operator, tweeted a photo of a Shiba Inu dog dressed in a branded Twitter shirt. Iterations of the Shiba Inu are used by popular crypto meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
Shortly after Musk tweeted, DOGE price pumped more gains for hodlers. The meme coin was up over 120% in the past week alone, per data pulled from TradingView.