menuIcon
$ 83,495.9
BTC
$ 83,495.9
-1.61 %
$ 1,810.50
ETH
$ 1,810.50
-3.31 %
$ 0.6484
ADA
$ 0.6484
-4.50 %
$ 597.36
BNB
$ 597.36
-0.56 %
$ 117.85
SOL
$ 117.85
-6.25 %
Jafrin Ahmed
May 6, 2022
by Jafrin Ahmed

Binance Among Investors Who Funded Elon Musk’s Twitter Buyout

Binance Elon Musk's twitter

Table of contents

  1. Binance Commits $500 Million,
Major cryptocurrency exchange Binance and eighteen other investors have participated in Elon Musk’s $44 billion acquisition of Twitter, according to an amended 13-D schedule filed with the U.S. Securities and Exchange Commission. The deal was part of a $7.1 billion new financing that Musk had secured for his proposed takeover of Twitter.

Binance Commits $500 Million

Binance Holdings Ltd. has committed $500 million for Elon Musk’s proposed takeover of Twitter Inc. as part of its strategy to bring the social media platform to Web3.

"We are excited to be able to help Elon realise a new vision for Twitter. We hope to be able to play a role in bringing social media and Web3 together and broadening the use and adoption of crypto and blockchain technology," Changpeng Zhao, CEO of Binance, said in a statement.

Binance is currently creating an internal team dedicated to bringing blockchain to Twitter and other social platforms. Patrick Hillmann, chief communications officer for Binance recently said in an interview that the platform brought up BNB Chain to Musk and his team.

Deal Part of $7.1B New Financing Round

Binance had the fourth-largest commitment among a dozen equity investors financing Elon Musk’s takeover of Twitter. Lawrence J. Ellison Revocable Trust, Sequoia, and VyCapital have invested $1 billion, $800 million, and $700 million, respectively.

The deal was part of the $7.1 billion new financing round that Musk has secured for his proposed $44 billion takeover of Twitter.

Follow us on: News
Binance Elon Musk Binance Twitter Binance Twitter Investment Binance Twitter Web3
Binance Among Investors Who Funded Elon Musk’s Twitter Buyout
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.