At the Token2049 conference in Dubai, former Binance CEO Changpeng Zhao discussed his investment in the social media platform X, emphasizing the importance of free speech.
Changpeng Zhao's Investment in X
Changpeng Zhao participated in a panel discussion alongside macroeconomic analyst Raoul Pal, where he shared his investing philosophy. He stated: "I think freedom of money is important, but to have freedom of money, you have to have freedom of speech. Freedom of speech is kind of the bottom line. If you don't have that, nothing — no other freedom — works." In 2022, Zhao invested $500 million in Twitter’s acquisition, now known as X.
Critique of Europe’s Crypto Policies
Changpeng Zhao also criticized Europe’s policies regarding cryptocurrencies, labeling them as dead in the water compared to more pro-business jurisdictions like the UAE. He advocated for greater financial autonomy and personal liberties in this context.
Challenges and Potential of X
Despite the platform’s immense value, Zhao pointed out several issues it faces, including monetization challenges and the prevalence of spam bots. He urged Elon Musk to ban bots on X in March. Nevertheless, Zhao expressed hope that Binance could assist in integrating the platform into Web3 by facilitating crypto payments in the future.
For Changpeng Zhao, the investment in X is driven by not only financial interests but also a desire to protect and advocate for free speech as a fundamental principle.
