Binance lays half a billion dollars on the table to buy Twitter with Elon Musk

They buy Twitter cash – Say that the billionaire Elon Musk single-handedly redeemed Twitter for $44 billion is not entirely true. Indeed, the whimsical CEO of Tesla received a little boost from 18 co-investors. Among them, one of the most important is none other than… the crypto-stock exchange Binance of Changpeng “CZ” Zhao!

Elon Musk was able to count on $7.1 billion in aid to acquire Twitter

After a first purchase of 9.2% of TWTR shares of Twitter in early April 2022, the engineer-billionaire Elon Musk caused a sensation by posing $44 billion on the table to redeem the whole shares of the social network to the blue bird.

A new official document published by the SEC on May 4, 2022 shows that Elon Musk has received ugly of several large investors to complete this huge purchase transaction. The commitment letters of these co-investors commit them to cover a cumulative total of nearly $7.14 billion on the cost of acquiring Twitter.

Among them are large investment funds, such as Sequoia Capital Fund and Fidelity Managementfor respective contributions of $800 and $316 million. But not only, as can be seen in the summary table below, a certain “binance” slipped into co-investors.

The list of 18 co-investors of Elon Musk for the purchase of Twitter – Source: sec.gov

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Binance invests $500 million alongside Elon Musk

So we can see that the cryptocurrency exchange platform Binance released quite a big way to help Elon Musk in his Twitter acquisition exercise.

Because although Changpeng Zhaoco-founder and CEO of Binance, declares in a tweet that it is there “A small contribution to the cause. »so it’s good half a billion dollars that the crypto-stock exchange has just bet in the social network.

Changpeng Zhao confirms that Binance helped Elon Musk buy Twitter.
Twitter account @cz_binance

Elon Musk’s biggest co-contributor, however, will remain the Lawrence J. Ellison Revocable Trust. In fact, the fund larry ellisoncompany founder Oracle and its eponymous database management software – will have offered $1 billion for this takeover of Twitter.

Let’s hope that Binance’s help for Elon Musk will helpaccelerate further adoption of Bitcoin (BTC) and cryptocurrencies by Twitter. Changpeng Zhao and his cryptocurrency exchange indeed know all too well all the problems to be solved from scam attempts on Twitter, using spambots to try to scam crypto-enthusiasts. Perhaps, moreover, the Dogecoin (DOGE) could help fight those nasty spam bots.

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