Twitter Partners With eToro Instead of Binance: Regulatory Fear?

  • The fact that they didn’t partner up with Binance has raised eyebrows.
  • Binance, having invested $500 million in the Twitter takeover, was expected to be a partner.

Altcoin Daily took to their Twitter account to question why Twitter didn’t partner up with Binance recently. This question arose after Twitter partnered with eToro to enable cryptocurrency and stock trading.

Twitter is adding a new feature to its app that will enable users to access market charts for a wider range of financial instruments and conduct trading activities such as buying and selling stocks and other assets from eToro. This information was provided exclusively to CNBC by the company.

Then the question was posed as to why Twitter didn’t partner with Binance despite the cryptocurrency giant investing $500 million in Elon Musk’s Twitter takeover in 2022.

One cryptocurrency YouTuber, DustyBC, speculated that this decision may be due to regulatory troubles. A Twitter user added that it might be due to a perceived conflict of interest.

On March 27, Binance, which is recognized as the world’s largest cryptocurrency exchange, and its founder, Changpeng Zhao, were charged by the Commodities and Futures Trading Commission (CFTC) for allegedly violating commodities laws.

It is worth noting that, following the collapse of FTX in November 2022, both the SEC and CFTC have adopted a more assertive approach towards the cryptocurrency industry, using enforcement measures to establish their jurisdiction.

Since the beginning of the year, the SEC has commenced several cases against cryptocurrency enterprises and individuals operating within the United States. The community has started to assume that Twitter not collaborating with Binance is also due to the fear and uncertainty revolving around Binance.

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