Binance wants to help Elon Musk buy Twitter The exchange has pledged $500 million.
The crypto giant Binance is one of the ten outside investors who wish to finance the acquisition of Twitter by Elon Muskan acquisition valued at $44 billion, according to a file published today.
Binance wants to help Elon Musk buy Twitter
The amended 13-D file, filed with the sacrosanct Securities and Exchange Commission, reveals a $500 million commitment from Binance. Venture capital firm Sequoia reportedly accounts for $800 million, Fidelity $316 million and a16z $400 million. The total commitments in this document amount to approximately $5.2 billion. Saudi billionaire Prince Al-Walid bin Talal Al Saud, an existing investor, also opted to keep 34.9 million shares, subject to certain conditions.
“We are happy to help Elon realize a new vision for Twitter”, Binance CEO Changpeng Zhao told The Block. “We hope we can play a role in bringing social media closer to web3 and democratizing crypto and blockchain technologies.”
The exchange is committed to the tune of $500 million
In April, Elon Musk agreed to pay $54.20 per share for Twitter. The transaction, which would make Twitter a private company, should be finalized this year, if all the authorizations are obtained, of course. The announcement came four days following the American multi-billionaire unveiled the financial details of this acquisition. This led the board of directors of Twitter to seriously analyze this proposal.
The Tesla CEO previously said that if this acquisition is completed, he would return open source the code of the Twitter algorithm and would try to make it a platform for free expression. While trying to fight spam and other bots. Everything would then be possible for the “new Twitter”. Will this one give pride of place to crypto and its various technologies? To be continued !
