binanceIt is the world’s largest cryptocurrency exchange.
“We are delighted to help Elon bring Twitter’s new vision to life. To expand, we aim to play a role in connecting social media and Web3. Decryption.
Earlier this week, CZ confirmed that Binance is sticking to its earlier promise to commit $500 million towards Musk’s bid to buy Twitter, and that the deal will help bridge social media and news to Web3. Emphasis was placed on providing opportunities.
Zhao said on Twitter late Thursday that Binance had already wired the above amount as part of the transaction.
Binance first revealed its plans to help Musk acquire Twitter in a filing with the SEC in May of this year. At the time, his CEO of Binance described the move as a “small contribution to the cause.”
Major funders who helped the Tesla and SpaceX CEOs fund the deal included Morgan Stanley, Bank of America and Barclays, each of which contributed to the deal. It has committed to debt financing of at least $2.5 billion. forbes.
Other equity investors participating in the acquisition include Sequoia Capital, Qatar Investment Authority and Fidelity Management & Research. CNBC.
Musk Completes Twitter Takeover
After months of legal and public controversy surrounding the deal, Musk completed his acquisition of Twitter for $44 late Thursday and triumphantly posted a “bird free” tweet, soon reportedly ousted several executives.
According to initial reports, the new owners quickly dropped Twitter’s executive lawsuit. Retirees include Twitter CEO Parag Agrawal, Chief Financial Officer Ned Segal, and Donald Trump, who played a key role in the decision to ban his Twitter account in January 2021. Vijaya Gadde, one of the top lawyers who served, is reportedly included.
Musk himself will take over as CEO, sources say bloomberg— though it may only be an interim role.
His next move is reportedly to reinstate Twitter users who have been handed permanent bans from the platform, including Trump.
Before closing the deal, Musk said his primary motivation for acquiring Twitter was to secure “the future of civilization.”
The goal, according to Musk, is not to split into “far-right and far-left echo chambers,” but to maintain a “common digital town square” where people of a wide range of beliefs can discuss their views without resorting to violence. is to ”
Other goals include fighting spam bots on Twitter. This problem could be solved by implementing a blockchain-based solution.
Bot spam is particularly prevalent in the cryptocurrency community, where scammers often create fake identities for influencers and other celebrities, including Musk himself, to lure investors.