According to data submitted by the US Securities and Exchange Commission, leading crypto exchange Binance participated in Elon Musk’s $44 billion purchase of Twitter. On May 5, Musk submitted a revised generalized statement of takeover, indicating that Twitter had acquired fresh financing commitments totaling $7.2 billion in conjunction with the business combination, bound by the terms of co-investor capital contribution documents.
Stakeholders of Twitter
Binance is one of 18 stakeholders, among prominent crypto huge companies like as Sequoia Capital Funds and Fidelity Management. Binance is the fourth largest donor, at $500 million, behind the Lawrence J. Ellison Revocable Trust, which put in $1 billion. Sequoia Capital and VyCapital each contributed $800 million and $700 million.
On April 25, billionaire Tesla CEO and creator Elon Musk formally announced the purchase of Twitter, with the $44 billion deal slated to completion in 2022. He said that removing “spam and fraud chatbots and the bot army”. That includes those bots tied to cryptocurrency, which will be one of Musk main goals for Twitter.
Elon Musk message to Binance
Last year, Musk pressed Binance to fix several platform flaws, resulting in a brief Twitter spat with the Binance CEO. Musk brought up a concern with certain Dogecoin withdrawals becoming delayed on Binance, and asked Zhao to clarify the situation.