binance Managing Director Changpeng Zhao has shared the reason for his company’s involvement in the financing Tesla Inc TSLA chairman Elon MuskThat’s $44 billion Takeover of Twitter.

What happened: Zhao, also known as CZ, said one of the reasons he supported Musk’s purchase of Twitter was because “we want to be extremely supportive of free speech.” reported Reuters.

The cryptocurrency entrepreneur reportedly said at Web Summit – the largest tech conference in Europe – that Twitter is “the place where people speak their minds.”

“It’s an important platform for free speech — that’s the main reason,” Zhao said, according to Reuters.

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Why it matters: Binance CEO is an active Twitter user with over 7.2 million followers.

Zhao announced last week that Binance, the world’s largest spot cryptocurrency exchange, has invested $500 million to acquire Twitter.

At the time, Zhao revealed that the transaction was conducted using traditional banking methods rather than a cryptocurrency Bitcoin BTC/USD.

Regarding Binance’s ownership of Twitter, Zhao had said, “We are small potatoes.”

The CEO of Binance competitor FTX Sam Bankman Fried, Meanwhile, is reportedly looking for Cash from Twitter.

Continue reading: Musk responds to questions about Trump’s return on Twitter as Mexican president urges ‘fix damage’

Photo courtesy: web summit on Flickr