Binance’s CEO, Changpeng Zhao has shared how Twitter will play a crucial role in onboarding the web3 crypto-related services on the social media platform.
In his interview with CNBC’s Squawk Box Show, CZ shared how Binance would like to support strong entrepreneurs like Musk and aid Twitter in embracing the growing web3 mechanisms.
With Musk’s acquisition of Twitter, speculation is running wild concerning new changes that Tesla’s chief will reportedly be integrating into the social microblogging website.
With the reins of Twitter resting in the hands of the mercurial Elon Musk, Binance’s Changpeng Zhao has shared a new statement, adding that Twitter will soon become a hub for the emerging web3 space.
In an interview with CNBC’s Squawk Box Show, Binance’s CEO, CZ, added how Twitter is set to play an essential role in onboarding the growing Web3 practises by making them accessible to the masses at large.
Twitter And Web3: What’s Happening?
It is no longer a secret that Binance’s CEO, Changpeng Zhao, was one of the few people who invested in Musk’s Twitter buyout deal. Zhao took to Twitter to publicly confirm the news, adding that the Binance team had already wired $500 million to Musk two days before the deal was finalized.
Zhao seems optimistic that the “new Twitter” under Musk’s leadership will certainly boost the adoption of cryptocurrencies and Web3 in general. In the latest interview with CNBC Squawk Box, Zhao shared how he would like to see Twitter onboarding facilities related to crypto and Web3 under its domain.
“We want to make sure that crypto has a seat at the table when it comes to free speech. There are also more tactical things like how we want to help bring Twitter into Web3. ” CZ told CNBC
He later went on to discuss how Binance wants to support strong entrepreneurs like Musk and help him bolster the adoption of cryptocurrencies in general.
“We want to help solve the immediate problem like charging for memberships that can be done very easily using cryptocurrencies.” Zhao later shared
Dogecoin As A Potential Payment Option On Twitter?
Now that Twitter is owned by “Dogefather” Musk, speculation is rife about whether Dogecoin will be integrated with the platform to be used as a potential payment option on the microblogging website. Musk is yet to confirm the news; however, it has undoubtedly helped the crypto gain additional traction in the current cryptocurrency market.
Dogecoin is up 94% in the past week, per the data shared by Coingecko. The token is up 8% at the time of writing, sitting at $0.124675 in the last 24 hours.
The token has also documented a notable surge in its trading volume. According to Coinmarketcap, Dogecoin’s current trading volume sits at a whopping $5,937,380,022. The token is the third most traded crypto on Coinbase, contributing approximately 14% to the exchange’s total trading volume.