Several crypto-focused accounts have tweeted today that Changpeng Zhao, chief executive and co-founder of the Binance exchange, has unfollowed Elon Musk's Twitter account.
Now, the community wonders what could have made CZ stop following one of the most influential people in the tech and crypto spheres.
One possible reason voiced
Crypto account @WhaleChart with nearly 400,000 followers stated that this news "causes shock waves" in the crypto community.
Twitter user @Pauly0x, the founder of Not Larva Labs, claimed that CZ does not like the idea of Elon Musk launching a cryptocurrency wallet for Twitter.
@Pauly0x seems to be a fan of the meme coin PEPE, which emerged on the market in April and has quickly become popular with investors and traders, surpassing leading meme coins SHIB and DOGE by trading volume at one point. The aforementioned Twitter account believes that once Musk launches a crypto wallet for Twitter, PEPE will be its native currency. He then also cited the phrase that the Twitter boss has tweeted several times within a few past years: "the most entertaining outcome is the most likely."
It’s a fact that @cz_binance is furious about @elonmusk’s plans to launch a Twitter crypto wallet.— PAULY (@Pauly0x) May 14, 2023
That’s why CZ recently unfollowed him.$pepe will be a native currency at launch.
It just makes sense.
The most entertaining outcome is the most likely.
Elon Musk turns attention to Pepe memes
Judging by the tweet, he believes CZ does not like Twitter entering the crypto space, with the potential launch of a wallet and introduction of crypto payments, which the community (especially, the Dogecoin community) expects within an indefinite period of time.
As for Musk and PEPE, on Saturday, the owner of Twitter, who is also known as a lover of memes, posted for the first time a meme with Pepe the Frog, the inspirational meme of the PEPE coin. That coincided with PEPE surging in price by nearly 60%.
Twitter's crypto wallet
In October last year, Twitter announced that it began to develop its own cryptocurrency wallet, or rather, a wallet prototype. Prior to that, Twitter introduced tipping in BTC and ETC for content creators.
However, after Elon Musk closed the acquisition deal with Twitter in late October, in early November, Twitter announced that it is putting the wallet development on hold.
Twitter has recently introduced a Subscription feature that allows subscribers to pay for additional materials released by content creators. According to Musk, Twitter will keep none of that money during the first year and, after that, the company will keep 10% of subscribers' payments.