Binance Believed To Have Caused Massive Crypto Market Liquidations

The crypto market is under a new correction today, and all the important digital assets are trading in the red. There are all kinds of speculations as to why the crypto market lost so much value these days.

Check out the following relevant tweet below:

JUST IN: $230 million has been liquidated from the #cryptocurrency market in the past 4 hours.

— Watcher.Guru (@WatcherGuru) May 5, 2022

Some Twitter users believe that Binance is behind all this.

Binance

— ELFI THE HOUSECAT (@the_elfi) May 5, 2022

Just in case you don’t know, Elon Musk has been making headlines again following the latest reports. Check out the latest connection with Binance below.

Full list of investors that have committed to invest in Twitter w/ Elon pic.twitter.com/FLkk54qPwq

— Blockworks (@Blockworks_) May 5, 2022

Someone said: ‘In my opinion, this is a brilliant move! Over the next several years, I suspect Twitter will be almost unrecognizable.’

Elon Musk’s Twitter takeover has been a widely discussed topic over the last couple of weeks. From speculations on what Musk might do with his version of Twitter to the addition of potential cryptos, Musk has been making headlines.

Musk managed to amass support from the crypto industry, the latest one is rather expensive. One of the world’s largest cryptocurrency exchanges, Binance has reportedly decided to pour $500 million into Twitter.

Musk eventually purchased the platform, and free speech haters have been having a hard time.

Musk made the shock bid less than two weeks ago, and he said Twitter had “tremendous potential” that he would unlock.

He also made sure to address various changes from relaxing its content restrictions to eradicating fake accounts.

Binance’s Changpeng Zhao addresses the importance of promoting Bitcoin. Check out the latest tweet that he shared about the subject below.

No need to sell/promote #bitcoin to people who have already made up their mind that they don’t want it.

We don’t need 100% adoption. Currently adoption is probably less than 5%.

Teach it to the others who may need it.

— CZ 🔶 Binance (@cz_binance) May 1, 2022

Stay tuned for more exciting news from the crypto space and make sure to keep your eyes on the crypto market as well.