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Binance commits $500M to co-invest in Twitter with Elon Musk

发布时间:2022/05/06 丨 文章来源:币安交易网 丨 浏览次数:

Major cryptocurrency exchange Binance was involved in Elon Musk’s $44 billion acquisition of Twitter, according to data filed with the U.S. Securities and Exchange Commission.If you want to sign up for Binance you can get the Binance referral code.
On May 5, Musk filed a revised acquisition general statement announcing that Twitter received commitments for new financing totaling approximately $7.2 billion in connection with the merger agreement, subject to the conditions in the co-investor equity commitment letter .
According to the filing, Binance was one of 18 co-investors in the acquisition, along with major crypto industry players such as Sequoia Capital Fund and Fidelity Management & Research.
With a $500 million investment, Binance is the fourth largest contributor after the $1 billion Lawrence J. Ellison Revocable Trust. Sequoia Capital and VyCapital donated $800 million and $700 million, respectively.
After the documents became public, Binance CEO Changpeng Zhao later tweeted that the company’s investment was “a small contribution to the cause.”
Each of the listed equity investors mentioned in the document has committed to contribute immediately before the acquisition closes. "The Equity Investor retains the option to use the Equity Investor's holdings of common stock valued at $54.20 per share to satisfy the Equity Investor's equity commitment," the filing reads.
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Billionaire CEO and Tesla founder Elon Musk officially announced the acquisition of Twitter on April 25 in a $44 billion deal expected to close in 2022, subject to approval by Twitter shareholders and regulators. He has previously said that one of his top priorities for Twitter is to remove "spam and scam bots and armies of bots," including those related to encryption.
As previously reported by Cointelegraph, Musk last year pushed Binance to fix some issues on its platform, sparking a mini-tweet battle with the CEO of Binance. Musk specifically raised an issue related to some Dogecoin (DOGE) withdrawals on Binance, asking Zhao to explain the issue.
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