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Binance CEO Changpeng Zhao says his US$500 million for Elon Musk’s Twitter takeover is because he supports free speech
- The chief executive of Binance, the world’s largest crypto exchange, said his support for free speech is the No 1 reason the company invested in Twitter
- It is unclear how actively involved co-investors like Binance could be in Twitter’s future, as Musk fully controls the board
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The chief executive of Binance, the world’s largest crypto exchange, said he was “extremely supportive” of freedom of speech and that was the main reason why his company decided to invest US$500 million into Elon Musk’s buyout of Twitter.
Binance’s Changpeng Zhao, known as CZ, who is an active Twitter user with over 7 million followers, said there were “very strong reasons” why he invested in the platform.
“Number one is that we want to be extremely supportive of free speech,” Zhao said at the opening event of Europe’s largest tech conference, the Web Summit, in Lisbon, adding that Twitter is “where people express their opinions”.
“It is an important free speech platform – that’s the number one reason,” he added.
Musk’s Twitter takeover saga came to an end on Thursday when the deal officially closed after months of twists and turns in and outside the courtroom, and Musk immediately fired top executives at the platform.
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