Elon Musk was just unfollowed by the CEO of Binance, Changpeng Zhao. Are there growing tensions between the billionaires behind the scenes?
Elon Musk, CEO of Tesla and SpaceX, was recently unfollowed by Binance CEO Changpeng Zhao (CZ), despite what appeared to be a lengthy and cordial history between the two.
Crypto Twitter has some theories about what might be causing the friction between the tech billionaires, despite the fact that neither executive has explicitly left any.
Was Binance Rejected by Twitter?
This weekend’s turn of events was brought to light by the Twitter account @BigCryptoAlert, which noted that CZ’s account, which follows over 1600 people, no longer has Musk’s profile among those it follows.
Since Twitter invited eToroUS, a social investing firm for cryptocurrencies and other financial instruments, to replace Binance as the crypto exchange social network’s partner, one Twitter user by the name of Lucra theorized that CZ may be severing his ties to Elon.
In April, the collaboration made it possible for users to browse market charts for equities and cryptocurrencies on Twitter and purchase or sell them using eToro.
Although the platform doesn’t handle nearly as many crypto assets or crypto traffic as Binance, it has seen far less regulatory and jurisdictional criticism than the latter and generally supports a larger range of financial assets.
Nevertheless, Binance was one of the businesses that contributed $500 million to Musk’s purchase of Twitter last year. The computer tycoon deemed this one of his main reasons for buying the company, and the exchange was ready to assist him in organizing a blockchain-based solution to the exchange’s spam bot issue.
Others on Twitter even assumed that CZ might not like the way Musk is driving Twitter right now. Recently, Musk declared that Linda Yaccarino, a longtime executive at NBC, would succeed him as the CEO of Twitter.
Is Pepe Wallet Underway?
It has been rumored that the unfollowing may be connected to the new memecoin Pepe. Over the weekend, Musk shared a Pepe-related meme on Twitter, which was promptly followed by a brief price increase.
Meanwhile, there are reports that Twitter may soon provide its own cryptocurrency wallet. According to some users, the wallet will employ Pepe as its default currency, igniting yet another bullish wave for the cryptocurrency.
Earlier this week, Musk made a trip to France to meet with President Emmanuel Macron. The Pepe Memecoin account’s verified location is France.
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