Accordingly, this series of tweets was made by Changpeng Zhao in the context of a slight drop in Bitcoin’s price after Elon Musk posted a cryptic tweet on his Twitter account. With the hashtag #Bitcoin and a broken heart emoji, along with an image of a couple arguing leading to a breakup, it seems Elon Musk wanted to imply that the love for Bitcoin has ended. Immediately after this tweet was broadcast, Bitcoin’s price plummeted from $39,475 to $35,578, before recovering to $36,729, according to data from Binance.
Witnessing the cryptocurrency market being continuously ‘sabotaged’ by random tweets from Elon Musk, the CEO of Binance immediately posted two cryptic tweets.
In the first tweet, Changpeng Zhao remarked: “With great power comes great responsibility, (it is) great. Great power but with random ‘humor’, both inappropriate and not funny.” In the second tweet, the Binance CEO was even more emphatic when he asserted, “tweets that harm other people’s money are not funny at all. That is irresponsibility.” Just a few hours prior, CZ (Changpeng Zhao’s nickname) had posted a brief tweet that read, “Don’t be manipulated.”
According to CZ, influential figures in the community like Elon Musk should act more responsibly, rather than spreading bad news that causes financial harm to investors.
Although Changpeng Zhao did not directly mention Elon Musk, most netizens below understood that these were criticisms aimed at Elon Musk – who has continuously posted a series of articles criticizing Bitcoin in recent weeks. Even another prominent figure in the cryptocurrency community, Justin Sun – the creator of the two famous cryptocurrency projects TRON (TRX) and BitTorrent (BTT) immediately…tagged Elon Musk’s account under CZ’s tweet.
It should also be noted that this is not the first time the Chinese billionaire has publicly criticized Elon Musk. Just a few days ago, CZ mocked Tesla’s stance on Bitcoin, while implicitly suggesting that Elon Musk is ‘hypocritical’.
“When you use electricity to run a car, it’s environmentally friendly. When you use electricity to operate the most efficient financial networks in the world, it raises concerns about environmental harm,” Zhao tweeted.
According to Forbes, Changpeng Zhao currently holds a net worth of approximately $1.9 billion, primarily from Binance.
This is seen as an argument to point out Tesla’s ‘double standards’, after the company announced it would not accept Bitcoin payments due to concerns that the mining process of this cryptocurrency harms the environment, causing the cryptocurrency market to plummet. Just afterward, Elon Musk hinted on Twitter that Tesla might sell the Bitcoin, which further drove the price of Bitcoin ‘even lower’.
Of course, CZ is not the only one who feels ‘irritated’ by Elon Musk’s tweets. Recently, data from the social media sentiment tracking company Awario showed that user reactions on Twitter towards Elon Musk’s posts have reached an all-time high of negativity. However, the number of followers for this tech billionaire on Twitter still increased by more than 3 million in May 2021, bringing Elon Musk’s total followers to 56 million.
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