Binance is Creating a Team on How Crypto Could be Helpful to Twitter

October 29, 2022

MCP News Free

Binance is Creating a Team on How Crypto Could be Helpful to Twitter

CZ’s Binance, the world’s largest cryptocurrency exchange is creating a team that will help Elon Musk Twitter use crypto and blockchain to battle Twitter bots as per a recent statement by a Binance spokesperson.

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Binance to Help Elon Musk Improve Twitter Services

Being one of the equity co-investors in Elon Musk’s $44 billion acquisition of Twitter, a Binance spokesperson has revealed that the company will assist the microblogging platform Twitter with strategies and plans to run the social media platform.

“Binance is creating an internal team to focus on ways that blockchain and crypto could be helpful to Twitter and actively brainstorming plans and strategies that could help Elon Musk realize his vision,” the Binance spokesman said.

The Binance team will look into how building an on-chain solution can help Twitter in addressing different issues including the proliferation of bot accounts, an issue that once led to Elon Musk pulling out of his Twitter acquisition.

“For example, how can we build on-chain solutions to address some of Twitter’s issues, such as the proliferation of bot accounts in recent years. We are in the early stages now and still figuring out a plan,” the spokesperson added.

Musk’s long-time bid for Twitter came to an end on Thursday after settling the case outside the courtroom and following his acquisition, he immediately fired the top executives at the company.

the bird is freed
— Elon Musk (@elonmusk) October 28, 2022

Under the former CEO Jack Dorse, a Bitcoin bullish, Twitter has been exploring different ways to integrate blockchain technology into the platform.

The process of integrating blockchain technology into Twitter may take a different speed now that Musk has taken over the platform.

Musk had once suggested the use of Dogecoin to pay for Twitter blue services, his company, Telsa despite selling off 75% of its Bitcoin holding is still one of the largest corporate Bitcoin holders in the crypto space.

Musk is also expected to restore all the accounts previously suspended by Twitter including that of former US President, Donald Trump.

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