Why Did CZ Unfollow Elon Musk on Twitter?

Binance CEO Changpeng Zhao (CZ) lately unfollowed Tesla and SpaceX chief Elon Musk after what appeared like an extended and pleasant historical past between the 2 events. 

Although neither govt has left any express clues, crypto Twitter has some theories about what could also be driving stress between the tech billionaires. 

Did Twitter Shun Binance?

Twitter account @BigCryptoAlert known as consideration to the flip of occasions on Saturday, noting that CZ – whose account follows over 1600 customers – not counts Musk’s profile amongst them. 

One Twitter person named Lucra speculated that CZ could also be distancing himself from Elon ever since Twitter invited eToroUS – a social investments firm for crypto, and different monetary devices – to be the social community’s companion crypto alternate, slightly than Binance. 

As a result of Elon invited @eToroUS to be Twitter’s crypto alternate as an alternative of Binance, despite the fact that it was CZ who helped fund his acquisition of Twitter.

— Lucra (@lucrafund) Could 14, 2023

The partnership enabled customers to simply entry shares and crypto from Twitter in April, letting them view market charts for such property and purchase/ promote them via eToro. Although the platform doesn’t assist almost as many crypto property or crypto quantity as Binance, it’s been topic to far much less regulatory and jurisdictional criticism than the latter – and helps a wider vary of economic property typically. 

That stated, Binance was one of many corporations that helped Musk purchase Twitter final yr, placing $500 million in direction of the trigger. The alternate was additionally ready to assist Musk manage a blockchain-based resolution to its spam bot downside, which the tech tycoon thought of one in every of his principal motivations for buying the corporate. 

Actually, different Twitter customers speculate that CZ might now disapprove of the route wherein Musk is taking Twitter. The previous boss lately introduced that he would step down as Twitter’s CEO in favor of Linda Yaccarino – a former govt at NBC. 

Pepe Pockets Quickly?

There’s additionally hypothesis that the unfollowing could also be associated to the brand new memecoin Pepe. Musk posted a Pepe-related meme on Twitter over the weekend, which was predictably adopted by a short-lived worth pump. 

Explaining Constitutional Amendments pic.twitter.com/oYkMPBe9Zi

— Elon Musk (@elonmusk) Could 13, 2023

In the meantime, rumors are circulating that Twitter quickly plans to launch its personal crypto pockets. Some customers consider the pockets will function Pepe as its native foreign money, sparking one other wave of bullish momentum for the coin. 

“It’s a incontrovertible fact that CZ is livid about Elon Musk’s plans to launch a Twitter crypto pockets,” stated Pauly0x on Twitter on Sunday. “That’s why CZ lately unfollowed him. Pepe will likely be a local foreign money at launch. It simply is sensible. Probably the most entertaining end result is the more than likely.”

Musk additionally travelled to France on Monday to talk with President Emmanuel Macron. France occurs to be the place the verified Pepe memecoin account is positioned.

So…. @elonmusk is in France doing “enterprise” right now.

Guess who else is in France… cough cough @pepecoineth $pepe pic.twitter.com/Lk9I2rtu4N

— Un Blockchain Me (@UnBlockchainMe) Could 15, 2023