According to Bloomberg’s report, Binance CEO Changpeng ZhaoHe said he plans to honor Elon Musk’s financial commitment to take over Twitter, even if the deal comes with a potential hurdle from Washington.
Binance CEO Changpeng Zhao Plans to Stand Behind Musk’s Twitter Offer
Earlier this month, a video by Elon Musk SEC It had re-announced its plans to take over Twitter after its filing was initially put on hold.
When asked if he would stand by it during a conference in Saudi Arabia today, Zhao replied, “I guess so.”
Biden administration officials are considering whether to subject the Twitter deal to national security scrutiny, along with some of Musk’s other initiatives, Bloomberg reported last week.
Authorities are reportedly concerned about the number of foreign investors committing funds.
Binance has agreed to contribute $500,000 to Musk’s $44 billion bid. crypto exchange, Qatar wealth fund, venture capital firm Sequoia and fidelityIt is among many investors, including .
Musk said this month that he still wants to buy the social media platform after backing out of the deal in July and being sued by Twitter.
Twitter recently updated its employee FAQ page to warn its employees about this issue. Employees will not be able to access or trade stocks through the Stock Reward Center.
In the report, it was stated that this change was made in anticipation of the completion of the acquisition of Twitter by an organization controlled by Elon Musk.
*Not investment advice.
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