Binance, The World’s Largest Cryptocurrency Exchange, Is Assembling A Team To Assist Twitter With Things Like Bots

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Last Updated on October 30, 2022 by Bitfinsider

A team is being formed by Binance Holdings Ltd. to investigate how blockchain technology and cryptocurrencies might benefit the social media platform. Binance Holdings Ltd. is an equity investor in Elon Musk’s acquisition for Twitter.

The largest cryptocurrency exchange in the world looks to want a say in how Twitter is handled after admitting on Friday that it had contributed to Musk’s takeover of the social media network.

A spokesperson for Binance said in a statement:  “Binance is creating an internal team to focus on ways that blockchain and crypto could be helpful to Twitter and actively brainstorming plans and strategies that could help Elon Musk realize his vision.” The effort is still in its early stages, and the plans are still being worked out.

On-chain solutions “to address some of Twitter’s issues, such as the proliferation of bot accounts in recent years,” the spokesman said, might be one of the areas of concentration. Musk has emphasized the presence of bots, or automated accounts, as a problem on numerous occasions and has even used them as justification for attempting to scuttle the sale in the past.

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