crypto exchange company Binance, Elon Musk’s TwitterHe became an approved equity investor in his acquisition of .
Elon Musk Reportedly Plans to Take the Reins as CEO, Confirmed as Investor in Binance Twitter Takeover
Binance founder and CEO Changpeng Zhao said in a statement, “We are excited to be able to help Elon realize a new vision for Twitter.
“We aim to play a role in bringing social media and Web3 together to expand the use and adoption of crypto and Blockchain technology.”
After the $44 billion deal was finalized yesterday, Musk reportedly fired Twitter’s top executives, including CEO Parag Agarwal.
Bloomberg reported today that Musk plans to take on the role of chief executive officer at Twitter and reverse lifetime account suspensions on the social media platform.
Binance’s investment news came after months of ups and downs between Musk and Twitter.
In May, Binance committed $500 million to invest in Twitter, alongside Musk’s acquisition of the social media service.
“Our initial commitment remains the same and we look forward to exploring opportunities to grow the partnership in the future,” a Binance spokesperson said in a statement.
Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter. https://t.co/gM65GHUnZC
— CZ 🔶 Binance (@cz_binance) October 28, 2022
In a tweet after news of the takeover first surfaced, CZ described the $500 million commitment as “a small contribution to the cause”.
In his tweet today, he stated that they transferred 500 million dollars 2 days ago. CZ added that the priority should be to reduce spam and fraud on the platform.
*Not investment advice.
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