Binance To Fight Twitter Bots, Set To Create A Team
- The largest cryptocurrency exchange in the world, Binance, announced its plans to build a dedicated division to assist social media platform Twitter with its upcoming challenges following acquisition by Elon Musk.
- The team will also focus on fighting against bots on the platform which was a major reason why Musk went back from the deal with Twitter a few months ago.
- Several on-chain solutions could be introduced to combat the issues on Twitter according to a spokesperson from Binance.
After pledging half a billion dollars to partially fund Elon Musk’s acquisition of Twitter, the largest cryptocurrency exchange in the world, Binance, has recently announced its plans to build a dedicated division to assist the social media platform with its upcoming challenges.
According to a recent story by Bloomberg, the exchange informed that it prioritizes fighting against bots and wants to help Twitter in the same. It is crucial to note that Elon Musk, the CEO and founder of Tesla and SpaceX, went back on his words after he said he would acquire Twitter, stating that the executives remained unclear regarding the number of bots operating on the social networking platform.
“Binance is creating an internal team to focus on ways that blockchain and crypto could be helpful to Twitter and actively brainstorming plans and strategies that could help Elon Musk realize his vision,”
a spokesperson told Bloomberg in statement.
Furthermore, the Binance spokesperson also confirmed that the effort was in its early stages and plans are still being worked out regarding the issue. This confirms the fact that the leading crypto exchange will have a say in the working of the social networking platform which further confirms that things might shake at the firm which has now gone private.
The spokesperson from Binance also added that “to address some of Twitter’s issues, such as the proliferation of bot accounts in recent years,” several on-chain solutions could be introduced. This means that blockchain might play a crucial role on the working of Twitter under Musk’s rule.
Interestingly, Tesla still holds close to $218 million in crypto which did not change value as per Q3 earnings reports. However, the automobile firm recently confirmed selling a substancial amount of Bitcon (BTC).
Furthermore, as reported by Bitnation earlier, Twitter has debuted a new service called NFT Tweet Tiles which is being tested on a few accounts and will soon be made available to many more users. While this service has nothing to do with Binance, it will allow people to buy and sell blockchain-based non-fungible tokens directly using the posts they put out on the platform.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
