There are speculations that Binance CEO Changepeng Zhao, also known as CZ, was unhappy with Twitter's recent partnership with eToro. CZ and Binance invested around $500 million to help Twitter move to the Web3 industry, but the relationship between CZ and Elon Musk may have turned sour after several developments.

Twitter's partnership with eToro may have caused Binance to miss out on an opportunity to expand its market base. Additionally, a Twitter user suggested that CZ is not pleased with Musk's plans to launch a crypto wallet. Musk's recent use of Pepe memes in a tweet has also caused a stir in the crypto market, with Pepe coin's trading volume remaining high.

The relationship between Twitter and Binance highlights the competition between Web2 tech companies and Web3 protocols in the blockchain industry.