"How you make those decisions in a way that might go against your personal values but also upholds free speech - these are very difficult, complicated conversations to have and I don't envy the wealthiest man in the world trying to take that off. "But if I asked 100 different people, you'd get 100 different responses." ![]() "It's very easy to point and say, that shouldn't be on, that shouldn't be on," Wyatt, who was previously head of gaming at YouTube, told CNBC. Ryan Wyatt, head of blockchain group Polygon's gaming and metaverse division, said balancing freedom of expression with maintaining a safe environment online is "much easier said than done." "I am against censorship that goes far beyond the law," he said in a tweet last week. For his part, Musk says he only wants to allow speech "which matches the law." ![]() His commitment to relax policies on what Twitter users can post has fueled concerns that he may open up the platform to potentially toxic or illegal content. The world's richest man previously questioned whether Web3 was more of a "marketing buzzword" than reality. "We hope to be able to play a role in bringing social media and Web3 together and broadening the use and adoption of crypto and blockchain technology." "We're excited to be able to help Elon realize a new vision for Twitter," Zhao told CNBC Thursday. Such services could incorporate digital tokens like non-fungible tokens, or NFTs - the crypto equivalent of collectible items like rare art or trading cards - into areas like social media, web browsers or video games.Ī Binance-owned stake in Twitter could be Zhao's chance to realize Web3's decentralized ideals. It's an ill-defined term, but Web3 as a concept loosely refers to new web experiences built around blockchain, the technology that underpins many cryptocurrencies. ![]() The company is the world's largest crypto exchange, handling more than $70 billion in spot and derivative trading volumes on a daily basis, according to CoinGecko data.Ĭhangpeng Zhao, Binance's billionaire CEO and founder, is a big believer in the crypto world's vision of a new kind of internet, known as Web3. Personal Loans for 670 Credit Score or Lowerīinance's participation is curious, not least because of the business it operates. Personal Loans for 580 Credit Score or Lower Updated with Binance's comments on the formation of an internal team.ĭavid Hollerith is a senior reporter at Yahoo Finance covering the cryptocurrency and stock markets.Best Debt Consolidation Loans for Bad Credit "As the world’s leading web3 infrastructure company, we’re looking forward to bringing new solutions to solve some of the issues inherent in the Web2 ecosystem," Hillman said in a statement. Patrick Hillman, Binance's chief strategy officer suggested the company's involvement could mean less speculation and more "practical use cases" for the still buzzy, yet less active, emerging asset class. ![]() We are in the early stages now and still figuring out a plan," the spokesperson added. "For example, how can we build on-chain solutions to address some of Twitter's issues, such as the proliferation of bot accounts in recent years. Started by Twitter co-founder and former CEO Jack Dorsey, who has since left the company, it remains unclear how BlueSky will fit into Twitter’s plans under Musk.įor the period, the market capitalization for DOGE has risen by $3 billion from $7.7 billion to $10.6 billion, according to Coinmarketcap.įor its part, a spokesperson for Binance told Yahoo Finance that Binance is creating a team inside the company to focus on ways cryptocurrencies and blockchain technology could be helpful to Twitter. Tesla CEO Elon Musk took a stance against cryptocurrency exchanges in a Tuesday tweet. More recently, the company’s lesser known BlueSky initiative launched a website detailing plans to launch the AT Protocol, which aims to create a decentralized social network using blockchain technology. Elon Musk Encourages People to Ditch Crypto Exchanges Like Binance. Year to date, $18 trillion worth of crypto has changed hands on Binance, accounting for 22% of global crypto trading volume, nearly quadruple that of any other crypto exchange, according to crypto indexer, Nomics.īefore the Musk deal closed, Twitter had made efforts to further incorporate crypto onto its platform by allowing users to send cryptocurrencies through their user accounts and verify NFTs as profile pictures. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)Īlongside major angel investors such as Oracle Cofounder Larry Ellison and Twitter majority stakeholder Prince Alwaleed bin Talal of Saudi Arabia, Binance’s support had previously been disclosed as far back as May. CHINA - 5: In this photo illustration, the cryptocurrency exchange trading platform Binance logo is displayed on a smartphone screen.
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