Binance Listed as Co-Investor in Musk’s Twitter Takeover With $500M

Co-Investor in Musk’s Twitter

Cryptocurrency exchange Binance is among 18 co-investors backing Musk’s Twitter acquisition, with a commitment of $500 million.

A report filed with the US Securities and Exchange Commission shows that Sequoia Capital Fund and Fidelity Investments are among the group of financiers.

Binance is ranked as the fourth largest contributor behind J.Ellison Revocable Trust, which invested $1 billion, Sequoia Capital $800 million, and VyCapital at 700 million USD.

The CEO of the largest exchange by trading volumes, Changpeng Zhao, termed the investment on Twitter as a small contribution to the quest. 

The listed eighteen investors have reportedly committed to contributing the amounts before the deal’s closure.

The 13D filing by Elon Musk notes that the equity investors can settle their commitment through the shares of common stock held by such equity investors at $54.2 per share.

Source: Cointelegraph

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