Binance, which is one of the largest Crypto exchanges, has partnered with the renowned social media sensation, Khaby Lame. Binance decided to onboard this famous social media star during a dire time for the crypto industry.
Khaby is one of the most popular Tiktok sensation with about 145 million followers and fans on Tiktok. The Sengalese boy who is aged 22 and based in Italy has come a long way since the outbreak of Covid. He reached great heights in his social media career mainly because of his videos and reels going viral on Instagram. He also has 78 million followers on Instagram.
In their recent Twitter post, Binance mentioned the reasons for the onboarding of this famous Tiktok influencer. With this partnership, Binance will be busting different crypto and Web3 myths in the legendary “Khaby” style, will assist in driving the crypto education, launch exclusive Khaby Lame NFTs, and accelerate the growth of the Binance ecosystem.
For a long time now, the entire crypto ecosystem has not been doing so well. The recent insane crash destroyed many lives and was a cruel joke on the new investors. The crash’s repercussions are still shaking the cryptocurrency industry. Even while the traditional stock market has been negative, anticipating the return of the big bear, the market has remained volatile. People were looking to the promises of cryptocurrencies due to global political unrest, the ongoing conflict in Ukraine, falling stock prices, diminishing natural resources, rising poverty and unemployment. But it fell short of expectations.
The cryptocurrency industry has lost billions of dollars in recent months due to concerns about recessions and industrial slowdowns. Due to the low returns and a volatile market, many investors withdrew their funds from cryptoassets.
Binance is worried that inaccurate information around the Web3 industry could further stall the widespread adoption of these more recent technologies, which are already hampered by regulatory uncertainty in many regions of the world.
It was a fantastic match to have Khaby on board to help dispel some of the fallacies around this space because there is so much complexity surrounding Web 3 and false information in the globe. Khaby has become a symbol of the culture. We adore his charisma and sense of humour and believe that these will help to make him more relatable and relevant as we increase Web3 usage,” added James Rothwell, who is the Global Vice President of Marketing of Binance.
Let’s hope Binance gets their much needed breakthrough with this new rope-in!
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