{"id":4509,"date":"2022-05-06T12:00:06","date_gmt":"2022-05-06T05:00:06","guid":{"rendered":"https:\/\/test.wikibinance.com\/?p=1463"},"modified":"2022-08-23T13:40:01","modified_gmt":"2022-08-23T06:40:01","slug":"binance-pledges-to-invest-500-million-in-twitter-with-elon-musk","status":"publish","type":"post","link":"https:\/\/wikibinance.com\/en\/news\/binance-pledges-to-invest-500-million-in-twitter-with-elon-musk.html","title":{"rendered":"Binance pledges to invest in Twitter with Elon Musk"},"content":{"rendered":"

According to data from the U.S. Securities and Exchange Commission, Binance was involved in Elon Musk’s $44 billion acquisition of Twitter.<\/span> On May 5, Musk filed a revised joint statement on the acquisition, announcing that Twitter had received a total of about $7.2 billion in financial commitments related to the merger deal, subject to the conditions in the joint venture’s letter of commitment.<\/span> According to the document, Binance is one of 18 companies that jointly invested in the acquisition in addition to major crypto industry players such as Sequoia Capital Fund and Fidelity Research and Management.<\/span> With an investment of $500 million, Binance is the fourth largest investor, following lawrence J. Ellison Revocable Trust’s $1 billion investment. Sequoia Capital and VyCapital contributed $800 million and $700 million, respectively.<\/span> Binance CEO Changpeng Zhao announced on Twitter shortly after the document went public, saying that the company’s investment was a “small contribution to the big cause.”<\/span><\/p>\n

\"Binance
Binance pledged to invest $500 million in Twitter with Elon Musk<\/figcaption><\/figure>\n

Each of the equity investors listed in the document pledged to contribute shortly before the deal ended. “Equity investors have chosen to fulfill their commitment to the shares of common shares held by that share investor, worth $54.20 per share,” the document said.<\/span> Tesla’s billionaire founder and CEO Elon Musk officially announced the acquisition of Twitter on April 25. The value of the $44 billion transaction is expected to close in 2022, subject to approval by Twitter shareholders as well as regulators. Earlier, he said that one of the top priorities on Twitter is to eliminate “spam and rogue bots and bots” associated with cryptocurrencies.<\/span> Last year, Musk pressed Binance to address some of the issues on its platform, sparking a minor twitter war with binance CEO.<\/span> Musk raised the issue regarding dogecoin (DOGE) withdrawals stuck on Binance and asked Zhao to explain the matter.<\/span><\/p>\n

>>> Read more about Binance: Why Binance has the most competitive trading fees on the market<\/a><\/em><\/p>\n\n\n

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According to data from the U.S. Securities and Exchange Commission, Binance was involved in Elon Musk’s $44 billion acquisition of Twitter. On May 5, Musk filed a revised joint statement on the acquisition, announcing that Twitter had received a total of about $7.2 billion in financial commitments related to the merger deal, subject to the […]<\/p>\n","protected":false},"author":1,"featured_media":1542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[392],"tags":[1457],"_links":{"self":[{"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/posts\/4509"}],"collection":[{"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/comments?post=4509"}],"version-history":[{"count":3,"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/posts\/4509\/revisions"}],"predecessor-version":[{"id":5764,"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/posts\/4509\/revisions\/5764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/media\/1542"}],"wp:attachment":[{"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/media?parent=4509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/categories?post=4509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wikibinance.com\/en\/wp-json\/wp\/v2\/tags?post=4509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}