Binance co-founder and former CEO Changpeng “CZ” Zhao took the stage at Token2049 in Dubai, United Arab Emirates (UAE), where he told the audience that his investment on the social media X platform aimed to protect freedom of speech.
Binance’s former executive joined a fireside panel with macroeconomic analyst Raoul Pal to discuss the justification behind his 2022 investment in x and artificial intelligence. Zhao said:
“I think freedom of money is important, but having the freedom of money, you need to have the freedom of speech. Freedom of speech is kind of bottom line. Without you, nothing – no other freedom – works.”
“So, when we invested on Twitter then, it was based on that philosophy,” Zhao continued.
The former binance CEO also Europe’s crypto policies have been criticized.
Related: CZ aims to teach 1 billion children by Giggle Academy – Token2049
CZ sees the potential in X, but issues continue
In October 2022, Zhau announced that the crypto exchange Binance invested $ 500 million to the businessman Elon Musk’s getting Twitternow known as X.
The crypto exchange is one of the 19 co-investing in the deal, which also includes companies such as Sequoia Capital Fund and Fidelity Management.
At the time of investment, the former CEO of Binance said that while the “platform had a huge amount, in itself,” this Faced with many issuesIncludes problems with monetization, spam bots, development issues, and scam accounts that target users with the aim of stealing funds.
https://www.youtube.com/watch?v=4ZLSHSUQVOU
Zhao Elon Musk encouraged to ban the bots in X In March, a problem that continues the platform, especially affecting the cryptocurrency community on the platform to promote fake tokens, scam users, or spam the site with promotional content.
Despite these issues, Zhao has expressed hope that Binance will help the social media site to include in the web3 by facilitating crypto payments in the near future.
Magazine: ‘China’s Microstrategy’ Meitu sells all Bitcoin and Ethereum: Asia Express
