On October 28, the Binance team officially confirmed that the exchange has become the main investor in Elon Musk's deal with Twitter.

Changpeng Zhao said in an interview that he is happy to work with Elon and support the development of a new vision for the social network and Web3. As a result of the joint work, the participants want to combine Twitter with the crypto space and the blockchain.

It is worth noting that the deal to buy Twitter cost $44 billion. After that, the new owner of the social network fired CEO Parag Agarwal. Musk noted that he would take on all the duties of the CEO.

Previously, Binance has already invested in Twitter. In May 2022, $500 million was sent to develop the network. Now, Changpeng Zhao notes that it is important to achieve maximum security on the platform and eliminate fraud.