Tuesday, April 23, 2024

Elon Musk Will Either Incorporate Cryptocurrencies or Blockchain Networks with Twitter.

With Elon Musk now officially at the helm of Twitter, some crypto enthusiasts believe there is a good chance that the billionaire will incorporate either cryptocurrencies or decentralized blockchain networks with the social media platform.

Musk, in his official message of acquisition, acknowledged that Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences. He said the platform must be warm and welcoming to all, where one can choose their desired experience according to their preferences. Back in June, the Tesla CEO had discussed the integration of digital payments and cutting out crypto-related scams. Musk said it makes sense to integrate payments into Twitter so that it is easy to send money back and forth, currency as well as crypto.

Musk acquired Twitter at the original price of $54.20 a share, amounting to $44 billion. He had secured debt financing from several investment banks, and backing from high-profile investors including venture capital firms and technology CEOs. Binance, a crypto exchange, is one of the original backers and is an equity investor in Musk’s Twitter takeover. Changpeng Zhao, Binance CEO, said the platform is excited to help Elon realize a new vision for Twitter. Binance wants to play the role of bringing social media and Web3 together in an effort to broaden the use and adoption of crypto and blockchain technology.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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