The Chief Executive Officer of Binance, Changpeng Zhao visibly trolled the Chief Executive Officer of Tesla, Elon Musk. Zhao was dishing in on cryptocurrency.
In a tweet on Monday, Zhao said:
When you use electricity to run cars, it’s environmentally friendly. When you use electricity to run the most efficient financial networks in the world, it’s an environmental concern.
Zhao took a veiled swipte at Elon Musk. Musk had recently announced that his company would reverse plans to accept bitcoin as payment for its cars. The reason for this shift was stated to be bitcoin’s high environmental cost.
Nonetheless, SpaceX has already confirmed that it will launch the ‘DOGE-1 Mission to the Moon’ in 2022. It has confirmed to accept Dogecoin as full payment for the lunar payload.
Although Musk and Zhao seem to taking swipe at each other, studies do imply that financial transactions in conventional manner cost a lot to energy. Environmental campaign groups Greenpeace and WWF published a study recently and stated that British banks finance 805m tonnes of CO2 production a year.
Elon Musk has yet to respond to Zhao, either through a tweet or a meme.