CZ provides 6 reasons to support Musk's acquisition of Twitter! Biden expresses concerns over too many lies on Twitter.

Elon Musk's acquisition of Twitter has now been finalized. Binance CEO CZ, after being questioned multiple times, gave a unified response on Twitter regarding supporting Musk in this matter, indicating his optimism towards Musk and the platform's future. However, U.S. President Biden seems to be unhappy about this development, believing it will bring more misinformation to the platform.

Ever since Twitter’s new sink was in, I was asked about it in every interview. And I had many interviews last week. So, here is a summary.

Why did we do it? 6 reasons. 👇

— CZ 🔶 Binance (@cz_binance) November 4, 2022

Six Reasons CZ Supports Musk's Acquisition of Twitter

As a major shareholder in Twitter, Binance founder CZ has been asked multiple times why he supports Musk's actions since Musk took over Twitter. Here are the six reasons CZ provided:

1. Support for Freedom of Speech

CZ stated that Twitter serves as a public space for the world, where singers, athletes, movie stars, politicians, entrepreneurs, members of the crypto community, or anyone can express their thoughts. This alone is enough for us to ignore short-term stock price fluctuations and market trends when making investments. This is a long-term investment, and freedom of speech is a prerequisite for financial freedom, which is what we aim to achieve.

2. Support for Entrepreneurs

CZ believes Musk is a remarkable entrepreneur. Under Musk's leadership, he trusts that Twitter will continue to grow and become a platform that influences everyone.

3. Twitter Holds Significant Undeveloped Value

CZ believes that Twitter has not yet found the right business model. However, he is confident that Musk and the crypto industry can help him discover an innovative business model that does not involve selling user data.

4. Facilitating Web3 Integration

CZ expressed willingness to assist in Web3 integration and claimed that Binance is the largest liquidity provider.

5. Investing in Things You Use

CZ acknowledges that he frequently uses Twitter, so this investment is in a product he uses himself.

6. Helping Solve Twitter's Issues

CZ mentioned that removing malicious bots from Twitter is at the top of his wish list. He also agrees that paid verification and paid comments are the right things to do. Additionally, this includes the long-awaited article editing button.

Biden Criticizes Musk's Acquisition of Twitter

Although CZ's statements seem to suggest a bright future for Twitter, U.S. President Biden is not pleased with the acquisition.

According to a report by Bloomberg, President Biden expressed his dissatisfaction at a fundraising event in Chicago last Friday, stating that social media should take responsibility for spreading lies.

Biden's remarks may stem from concerns that after Musk's acquisition of Twitter, the platform may have too much freedom of speech, leading to the rapid spread of misinformation. In response, Biden said:

"There are no fact-checkers anymore. In this situation, how can we expect our children to understand what is urgently needed?"