Musk Project “Twitter Store 56 Trillion”… “Big Crypto Players” participated

Producer Tesla Elon Musk speaks during a press conference on SpaceX on September 9 © Reuters = News1 © News1 Reporter Hyungki Park

Tesla CEO Elon Musk spoke with the US Securities and Exchange Commission (SEC) on the 5th (local time) that it received $ 44 billion (approximately 56 trillion won) in acquisitions on Twitter, the largest. global cryptocurrency exchange of Binance. It was found on Musk’s investor list, which had an impact on earnings.

According to Musk, which has found interest in cryptocurrencies, assisted by Binance in the process of raising money to acquire Twitter, Binance’s idea of ​​expanding the Web 3.0 ecosystem should increase. movement.

Binance’s expansion into the Web 3.0 ecosystem is in line with Twitter’s acquisition of Musk previously reported to investors.

Musk has in the past raised the need to improve the environment for investors referring to Twitter as an “environment where profits are very low and developers can not use its full potential. . “

Sam Bankman Pride, CEO of cryptocurrency exchange FTX, acknowledged that Musk’s bid to acquire Twitter could “still help increase Twitter sales.”

He referred to Twitter’s distribution, saying, “We need to find ways to benefit from tweets or UI” and “content creators should be backed up with non-tokens.” -fungible (NFTs) or Dogecoin. “

“If Twitter were on the blockchain, it would be easier to add NFTs and cryptocurrency payments to Twitter,” he added.

Binance CEO Changpeng Zhao attended the Second Decentralized Economy (Deconomy 2019) held at the Jangchung Gymnasium in Jung-gu, Seoul on Thursday morning and gave a presentation. The conference, which brings together many experts on blockchain and cryptocurrency, will be held at Jangchung Gymnasium in Jung-gu, Seoul until May / News 1 © News1 Reporter Lee Seung-bae

At the Melcon World Conference, the international conference on economics and finance was held on the 4th, there were also hopes that Musk’s decision to hold Twitter could “support the spread of Web 3.0. “.

In fact, “it’s a small contribution to what Musk is trying to do,” said Binance CEO Changpeng Zhao, CEO of Binance after Twitter. I hope you can, he said.

Finally, the expansion of the Web 3.0 ecosystem was interpreted as having a direct impact on Binance’s large investment in Musk, which has been dubbed an innovation.

In addition, Binance is laying the groundwork for future generations of Web 3.0, such as the recent appointment of Microsoft Vice President Rohit Wad as Chief Operating Officer (CTO).

Meanwhile, Binance is a cryptocurrency exchange developed by Changpeng Zhao, a Canadian citizen from Jiangsu Province, China.

Changpeng Zhao acquired Binance in 2017 in the Cayman Islands, known as the se haven.

Since then, the Binance platform has passed through Japan and Malta to circumvent cryptocurrency regulation, and more recently, it has established itself in Singapore. However, it is not based in a particular country or region.

However, as international governments begin to study the legalization of virtual assets, particularly in the United States, competition for Binance headquarters needs to intensify.

Meanwhile, Bloomberg estimates that Changpengjiao, which owns 90% of Binance, is worth $ 96 billion (approximately 122 trillion won). Bloomberg ranked Changping Zhao is the 11th richest man in the world, calling him “the richest man in Asia”.

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