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Binance plans to invest $500 million alongside Elon Musk in Twitter buyout
Binance
2022-05-05 12:01
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Binance has committed $500 million to invest in Twitter alongside Elon Musk's buyout of the social media service, the cryptocurrency exchange confirmed on Thursday.
Filings with the U.S. Securities and Exchange Commission show Binance is among a consortium of 18 other investors that includes venture capital firm Sequoia Capital and investment firm Fidelity.
"We're excited to be able to help Elon realize a new vision for Twitter," Changpeng Zhao, Binance's CEO said.
"We hope to be able to play a role in bringing social media and web3 together and broadening the use and adoption of crypto and blockchain technology."
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