Binance joins funding for Elon Musk's takeover of Twitter

[Kelvinid]

That is something it looks great for Binance but I'm not going to say the community will get benefit from this.
At this time, I see huge manipulation that will happen in the crypto market and inside Binance. Now, I was thinking about the participation of EM in this know exchanger. Perhaps, there is no evidence that could prove it, however, this news, somewhat shows something unexpected strong connection between the two that we never know before.

I don't see good news when Elon Musk takeover twitter social media and not impact directly for bitcoin can reach to higher price again and always correcting almost on this week.

Of course, we don't expect this will help to make recover Bitcoin as the intent of Elon Musk in acquiring Twitter is not about Bitcoin. If ever he promotes crypto, He'll do it first with Dogecoin as his favorite.

[bbc.reporter]

I read this yesterday and I still don't know what to make of it. I doubt this is just about supporting free speech or whatever. Knowing CZ from his previous actions, he won't do this without any business motive in mind. Will we see Binance plastered all over Twitter ads? Will it become the exclusive crypto exchange? Or maybe Twitters users can use their account to create account in Binance?

I very much agree. Free speech will be part of their agenda to improve the platform but it will also certainly be about more visible advertisements that would favor Binance more than their competitors. However, it will be nothing undisguised similar to what you have mentioned. I reckon it will be the same twitter experience, only with more Binance and Tesla ads hehehe.

[Dave1]

I read this yesterday and I still don't know what to make of it. I doubt this is just about supporting free speech or whatever. Knowing CZ from his previous actions, he won't do this without any business motive in mind. Will we see Binance plastered all over Twitter ads? Will it become the exclusive crypto exchange? Or maybe Twitters users can use their account to create account in Binance?

I very much agree. Free speech will be part of their agenda to improve the platform but it will also certainly be about more visible advertisements that would favor Binance more than their competitors. However, it will be nothing undisguised similar to what you have mentioned. I reckon it will be the same twitter experience, only with more Binance and Tesla ads hehehe.

If that is the case, then not sure if Twitter will still be the go to media platform as far as getting the news very quick with this ads coming from Binance, specially for non-crypto members of Twitter. Going to be annoying as hell and perhaps they will go and move to other social media platforms without this big banners and ads.

[Blowon]

I'm not surprised that happened, even if the richest person in the world like him teamed up with the owner of Binance to take over Twitter it really really benefits them. I don't know if CZ and Elon Musk have known each other for a long time or they are just normal business partners, but if that's true, maybe in the future Elon Musk will be a supporter of BNB to grow like dogecoin but CZ will still be the owner. This is very beneficial for BNB holders.

[StarKay]

It appears that with Binance's investments outside of the cryptospace, it has only one direction to go and this is going up only hehehe.

It is good to be optimistic about the prospect of Binance but you should be very careful with your assertion that BNB has only one direction to go which according to you is upwards.

The rapid rise of BNB in a few years means that their will be correction at some point and also the Crypto environment is always at the mercy of government regulations so you should not let Binance investment in Twitter make you feel comfortable to invest your life savings in BNB.

[aprilnot]

maybe in the future twitter will be the first mainstream social media to actually adopt crypto. CZ and elon musk a very interesting combination for twitter development. I think in the near future there will be a good innovation or breakthrough for twitter. I hope one of them solves the annoying spammers and bots problem. it would be great if it came true.

[Eternad]

maybe in the future twitter will be the first mainstream social media to actually adopt crypto. CZ and elon musk a very interesting combination for twitter development. I think in the near future there will be a good innovation or breakthrough for twitter. I hope one of them solves the annoying spammers and bots problem. it would be great if it came true.

This is the main goal of this news after all. CZ and Musk is known for there enthusiasm to crypto and Musk openly declare about utilizing crypto use to the platform if he will owns it. CZ so this an opportunity to connect Binance to all twitter user. Imagine how many user on twitter that’s still not involved on crypto can now easily encourage to enter due to the fact that it will be widely use in the platform soon.

[dwminer1]

The threat I see resulting from the cooperation between CZ and Elon is a great opportunity to control the market. They are both one of the most influential people in the crypto world, and each of their tweets can change the value of a given crypto by several dozen%. We all know what Musk did with Doge. It can both, have a positive impact on a given project and be an effective weapon in the fight against possible competition.

[d3nz]

I'm not surprised that happened, even if the richest person in the world like him teamed up with the owner of Binance to take over Twitter it really really benefits them. I don't know if CZ and Elon Musk have known each other for a long time or they are just normal business partners, but if that's true, maybe in the future Elon Musk will be a supporter of BNB to grow like dogecoin but CZ will still be the owner. This is very beneficial for BNB holders.

They know that Twitter has a big impact on the market, and one post of Elon and CZ will surely have an impact and most the traders rely on them. As I check, Elon musk has lots of plans for twitter not just for the crypto but for its company revenue and I think that CZ knows that Elon will surely acquire Twitter and back him up, CZ will surely have a portion of the share of Twitter since they co-invested on it.

[danherbias07]

Let's not exaggerate this. It's just a share and it's just $500m out of $44B. Not enough to be in control of Twitter.
He may give some tips about how to boost it up but that doesn't mean EM will just listen to them. It's just business as usual and maybe a bit of strategy to be in the headlines again and looking at how many reactions it received, it's successful.
$500m invested that will make more money in the future + free trend. That's worth it. These businessmen are wise at doing things that will benefit them long term.

[southerngentuk]

I also read this news, but I also saw some articles sharing about a $500m futures liquidation on Binance recently, which is also one of the things that makes me laugh. But look at the fact that influencers are increasingly active and interested in the media to have a good relationship with each other. Personally, I feel that this is perhaps a preparation for an era when information will be more transparent and controlled, but I myself have always felt that Web3 needs more time to build and shape its potential sustainable development.

[Farma]

Everything that Binance touches, in terms of purchases, subsequently begins to work strangely. Remember CoinMarketCap, as soon as Binance bought it, it started showing false data and the service turned into a manipulative device working primarily for Binance interests. It's the same with Twitter. I think the purchases of such services will be used in further manipulation, because it is access to a multimillion-dollar audience.

well, I just hope that the development of twitter can be better than before. if this is true, i just see that CZ is starting to expand their business again. I don't know if this is a good thing for Binance, but if Twitter's management got any worse after this, wouldn't that make Elon Musk and CZ's names worse? moreover as you think, if twitter can provide data manipulation, and everyone knows, then sooner or later, people will leave twitter. we'd better see how this development unfolds in a few months or years.

[uelque]

CZ probably took the chance to at least have some control in twitter. We can probably see twitter to be involve much more in crypto space knowing that one of the biggest cryto exchange CEO is in it. Though we don't really know what is in their head or what are their plans but there is one thing I am certain of, and that is growth rate of crypto investors all around the globe would further increase. And I really can't wait what would happen next. This is going to be good for all of us crypto investors and enthusiasts.

[Xal0lex]

Everything that Binance touches, in terms of purchases, subsequently begins to work strangely. Remember CoinMarketCap, as soon as Binance bought it, it started showing false data and the service turned into a manipulative device working primarily for Binance interests. It's the same with Twitter. I think the purchases of such services will be used in further manipulation, because it is access to a multimillion-dollar audience.

well, I just hope that the development of twitter can be better than before. if this is true, i just see that CZ is starting to expand their business again. I don't know if this is a good thing for Binance, but if Twitter's management got any worse after this, wouldn't that make Elon Musk and CZ's names worse? moreover as you think, if twitter can provide data manipulation, and everyone knows, then sooner or later, people will leave twitter. we'd better see how this development unfolds in a few months or years.

I'm not sure they will leave Twitter. People tend to get used to it and are willing to put up with changes to their favorite service. Did we see users leave CoinMarketCap when CZ's manipulation of the service became apparent? No. The service is still popular. But popularity does not always mean quality. The same will happen with Twitter. How do I see CZ manipulating it? They can set up content filtering so that mentions of Binance and everything related to it will somehow always be at the top, like YouTube trends, or something like that.

[Tomcolor]

Sorry for delete

[Dessy88]

I read this yesterday and I still don't know what to make of it. I doubt this is just about supporting free speech or whatever. Knowing CZ from his previous actions, he won't do this without any business motive in mind. Will we see Binance plastered all over Twitter ads? Will it become the exclusive crypto exchange? Or maybe Twitters users can use their account to create account in Binance?

Twitter users using their accounts to create Binance profile is not safe, most hacks that happens aren't direct to the platform but social media, taking over peoples account on Twitter is more easier than hacking binance accounts direct, CZ can't that be stupid enough to think its a good idea.

This was easy in the past but now the development work of binance exchange has increased and they are accepting kyc users. Where there is no possibility of direct hacking, I think should not hold token in exchange because hacker groups are usually smarter so they can make you nervous.

[Jody.Drummer]

On May 5th when Binance was found to have contributed to the Twitter purchase I found on Forbes indeed Binance was number 5 after BAMCO.Inc. Binance made a loan to Elon of $500,000,000. It didn't stop there, there was a significant increase in Coin BNB right after that moment. We can see on that date the Market was very responsive to the news published by Forbes at 7:10, then followed by market movements after that. The part I marked at 7:15 was ideal enough to prove that the market really does respond very quickly.

News from Forbes


Response from Market


Am I just linking inexplicably? 

[Rengga Jati]

Read in full https://www.theblockcrypto.com/linked/145221/binance-joins-funding-for-elon-musks-takeover-of-twitter

If this is confirmed, it is actually not strange and make sense enough.
We have seen how Binance acquisition and invest in many other big companies and platform previously.

I read this yesterday and I still don't know what to make of it. I doubt this is just about supporting free speech or whatever. Knowing CZ from his previous actions, he won't do this without any business motive in mind.

Indeed, nothing is only for fun or popularity.
It is about a business that can create money again 
moreover, if Binance also invest much, there will be a certain business strategy that is being built, let's know later again.

[coin-investor]

I read this yesterday and I still don't know what to make of it. I doubt this is just about supporting free speech or whatever. Knowing CZ from his previous actions, he won't do this without any business motive in mind. Will we see Binance plastered all over Twitter ads? Will it become the exclusive crypto exchange? Or maybe Twitters users can use their account to create account in Binance?

Both of them have business motives and they hide it through their claim of free speech, these are two business-minded people who want to cover a lot of territories, many of us may not like them but these two are the front liners in a quest for massive adoption and we can't have it any better.

This is a big leap in the Crypto community Twitter for me is ranked number two when it comes to business promotion and the number one platform in the Cryptocurrency media platform, there will be a big impact in the coming months and years.

[coupable]

I read this yesterday and I still don't know what to make of it. I doubt this is just about supporting free speech or whatever. Knowing CZ from his previous actions, he won't do this without any business motive in mind. Will we see Binance plastered all over Twitter ads? Will it become the exclusive crypto exchange? Or maybe Twitters users can use their account to create account in Binance?

All these possibilities in your questions seem to me very reasonable. The platform cannot make a contribution of this size just to contribute to ensuring freedom of expression. The two companies are supposed to announce partnership agreements or joint work.
The best that can be obtained in the framework of this cooperation is for users to be able to enter the world of crypto from the Twitter account to avoid all complications and add another layer of protection.