Binance CEO Changpeng Zhao said he is ready to support Elon Musk’s initiative to buy Twitter.
Speaking to Bloomberg, CZ said that Elon Musk is a great leader and they follow him.
The Bloomberg host asked why CZ was so committed to the Twitter deal. Because Elon Musk said that due to the excess of bots and fake users, he could stop buying Twitter at the agreed price.
CZ stated that they are ready to provide or withdraw the necessary funds if Musk refuses the deal.
CZ was also asked about the latest state of the crypto market. Emphasizing that he is not surprised by the current state of the crypto markets, CZ said that volatility is always a part of the market and therefore everything is normal. In 2018, the crypto industry lost 90% of its capitalization.
The DeFi industry was also among the biggest losers of 2022. Billions of dollars were liquidated following the decline in liquidity in the lending market.
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