One of the world’s largest crypto exchanges Binance has participated in Elon Musk’s $44 billion takeover of Twitter with its $500M co-investment, as per the data filed with the U.S. SEC.
On May 5, Musk filed an amended general statement of the acquisition announcing that Twitter received an aggregate of around $7.2 billion in new financing commitments related to the merger agreement, subject to the conditions in co-investor equity commitment letters.
As per the document, Binance is one of the 18 co-investors in the acquisition alongside major crypto industry players including Sequoia Capital Fund and Fidelity Management and Research Company.
Each listed equity investor mentioned in the document has pledged to contribute to or immediately prior to the closing of the acquisition. Binance founder Changpeng “CZ” Zhao referred to the commitment as “a small contribution to the cause” in a tweet
Having invested $500 million, Binance is the fourth biggest contributor following Lawrence J. Ellison Revocable Trust which invested a mighty $1 billion. Meanwhile, Sequoia Capital and Vy Capital donated $800 million and $700 million respectively.
The billionaire CEO and founder of Tesla, Musk announced the acquisition of Twitter on April 25, with the $44 billion worth transaction expected to close in 2022. With this acquisition, he intends to remove spam, scam bots, and the bot armies, including those related to crypto.
On the other hand, Binance is actively working to expand its reach with its participation in various ventures and startups. Recently, Binance CEO CZ pledged a €100 million investment in France commitment to make the country the “heart of the European crypto community”.
