Binance CEO could join the Twitter board if Musk asks

Changpeng Zhao, CEO of the world’s largest crypto exchange Binance, says he’d be willing to join Twitter’s board of directors if invited by its new owner Elon Musk. Zhao says Musk has “lots of things to change,” including firing Twitter employees.

While speaking at Web Summit 2022 in Lisbon, Portugal, Changpeng “CZ” Zhao said that “Elon’s still deciding about the board; if he asks me to do it, I probably will.”

When asked about incorporating crypto into Twitter’s platform, Zhao mentioned allowing for payments, saying that integration would be easy.  

Further, Zhao noted that Binance is a minority investor in Twitter, and he realizes Musk is busy and he will wait for a more detailed plan on how Twitter can more fully leverage blockchain and crypto.

For now, the Binance CEO expects Musk has other concerns, saying: “Musk has a lot of people to fire, lots of things to change.”

Regarding joining the Twitter board, Zhao said, “I’d probably do it as a favor. Not something I’m dying to do.”

Recently, Binance poured $500 million into Elon Musk’s $44 billion bid for the social media platform, which closed last week. The crypto exchange was among dozens of outside investors, including venture capital firm Sequoia, Fidelity, and Qatar’s sovereign wealth fund.

Following the deal closing, Zhao said Binance plans “to play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology.” While a Binance spokesperson added that the company would create a team to aid Twitter’s use of blockchain technology.

In June, Elon Musk said it “makes sense” to integrate digital payments into Twitter, speaking at an all-hands meeting for the social network company. According to a transcript of the meeting released by Vox, the billionaire expounded on how payments, including crypto, are a “critical area” for Twitter and highlighted the ongoing issue of crypto scams on the social media platform.

Image Source: https://www.binance.com/en/blog/from-cz/a-letter-from-our-ceo-reflecting-on-progress-and-the-road-ahead-421499824684902301