Binance Wants to Use Crypto and Blockchain to Help Twitter Fight Bots
Binance has doubled down on its engagement with Twitter following the Musk acquisition. After allocating $500 million to support Elon Musk’s Twitter buyout, the world’s largest crypto exchange said it wants to establish a dedicated unit to help the social media platform’s upcoming challenges. The statement from the company, as reported by Bloomberg..
Fake accounts have been a major issue for the social media giant, especially such that promote fraudulent scams, many of which involve cryptocurrencies. In fact, one of Musk’s reasoning for why he wanted to acquire Twitter was to get rid of bots. However, this could have actually ruined the deal at one point since the company failed to provide the precise number of its active users, and Musk wanted to back off.
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