Binance Is Now A Confirmed Equity Investor In Musk’s Twitter Buyout Deal 

Ethereum World News
Ethereum World News October 28, 2022
Updated 2022/10/28 at 6:00 PM
2 Min Read
  • Binance confirms its participation in Musk’s Twitter takeover deal
  • Binance wired $500 million to Musk two days ago, as promised by its CEO, Changpeng Zhao.

Crypto exchange Binance has finally confirmed the news of being a legitimate equity investor in Elon Musk’s Twitter takeover deal.

Binance Confirms Its Participation In Musk’s Twitter Acquisition

Binance confirmed on Friday that the exchange was part of Musk’s $44 billion Twitter takeover deal. The exchange had wired $500 million to Musk two days ago as per the commitment made by its CEO, Changpeng Zhao.

“We’re excited to be able to help Elon realise a new vision for Twitter. We aim to play a role in bringing social media and Web3 together to broaden the use and adoption of crypto and blockchain technology. Binance’s CEO, Changpeng Zhao, added

Zhao has long supported Musk’s vision of operating Twitter. He recently tweeted how he has already started to feel more secure about his Twitter account now that Musk owns the microblogging site.

Per a statement uploaded in May, Binance had committed a $500 million investment to Musk’s Twitter deal. The exchange has long been a proponent of global crypto adoption and believes that Twitter can play a crucial role in making crypto accessible across the board.

According to Bloomberg, Musk is now a legitimate owner of Twitter and reportedly closed his months-long Twitter acquisition deal on Thursday. Per the report, Musk is also planning to reverse lifetime bans on the social media platform and is also looking forward to introducing new elemental changes to transform Twitter into a global social hub.

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