Binance CEO unfollows Elon Musk on Twitter, but Binance's $500 million investment in Twitter remains intact

Quick Take

  • Binance CEO Changpeng Zhao unfollowed Elon Musk on Twitter on Sunday.
  • But Binance’s $500 million investment in Twitter made last year remains intact, a Binance spokesperson told The Block.

Binance CEO Changpeng Zhao unfollowed Tesla and SpaceX boss Elon Musk on Twitter, according to a Sunday notification from Big Crypto Alert.

It is unclear why Zhao, commonly known as CZ, has chosen to unfollow Musk. A Binance spokesperson declined to comment on the move, but said Binance's $500 million investment that it made in Twitter last year remains intact.

Zhao unfollowing Musk on Twitter caught the attention of crypto enthusiasts, raising questions and sparking speculation. A Twitter user that goes by Lucra speculated Zhao unfollowed Musk because Twitter recently partnered with eToro instead of Binance, "even though it was CZ who helped fund his acquisition of Twitter." Last month, eToro announced a deal with Twitter that enables the social media giant's users to see real-time prices for a wide range of stocks, crypto and other assets, as well as offering the option to invest through eToro. 

Musk doesn't follow Zhao on Twitter, but it isn't clear if that has always been the case.

Binance's $500 million investment in Twitter remains intact


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Binance invested $500 million in Twitter last October, aiding Musk's $44 billion acquisition of the social media site.

"We're excited to be able to help Elon realize a new vision for Twitter," Zhao said at the time. "We aim to play a role in bringing social media and web3 together in order to broaden the use and adoption of crypto and blockchain technology."

Last week, Musk named Linda Yaccarino as Twitter's new CEO. He said he would transition to other roles, including product design and new technology, while the former head of advertising at NBCUniversal led the business.  

Together, they aim to transform Twitter into Musk's sought-after "everything app," dubbed X.

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About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.


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