Did you know that Binance actually contributed to Elon Musk's bid to takeover Twitter?

over 2 years ago (Edited)

The Takeover

Elon Musk took to the headlines last month when he decided to buy Twitter for $44 billion, so many people believed he could have used the money for something else like solving world hunger, some said he did it to show off because he won’t put his focus there rather handover to someone who will be handling it for him. In a tweet, Elon Musk said bought Twitter for the sake of free speech.

Elon Musk also tweeted that he would also take his time to remove suspicious accounts that are bots and also fight spam. However, reports are now saying that he didn’t but the popular social media alone, that he also received equity commitments from other sources even one of the largest crypto exchanges Binance also contributed to the deal to be made.

The Pledge

Along with Binance, different companies pledge their support for Elon Musk with the different amounts in order for him to take over Twitter the amount pledge are $800 million from Sequoia Capital, which is a venture capital firm in America, and $500 million from Binance one of the largest crypto exchange platform, $400 million from a16z, which is also a venture capital firm that deals on investments especially on entrepreneurs, and $316 from fidelity. These equity commitments will be filed with the Securities and Exchange Commission (SEC) as they should be because when an individual or entity acquires above 5% of an equity share, it must be filed with SEC.

Confirmation of the Pledge

Binance CEO Changpeng Zhao however confirmed the pledge when he responded to a tweet on Twitter saying: A small contribution to the cause, which now means that he’s in support of whatever Elon Musk believes he’s doing.