If you don’t live in a cave, you should already know that “Elon Musk is buying up Twitter.” However, it should be noted that everything is not so simple. First, if Musk really negotiated the purchase of the network social for $44 billion, this deal is still pending. On the other hand, Elon Musk is not the only one buying Twitter. Indeed, Tesla’s boss needs to raise funds to fund this takeover. What’s more, at this stage, some Twitter investors still have doubts that this takeover will succeed, as evidenced by recent fluctuations in the network’s actions. social on the exchange. However, Elon Musk is very serious. son plans to buy Twitter and take the company off Wall Street. A week ago, for example, we learned that Musk sold 4.4 millions Tesla shares worth $4 billion. But beyond investing his personal fortune, Musk also relies on investors. For example, we recently found out via documents from the SEC (American Financial Police) that 19 organizations have agreed to fund the acquisition of Twitter for total in the amount of 7.1 billion dollars. These investors include venture capital firm Sequoia, Qatar sovereign wealth fund and cryptocurrency exchange Binance.
Binance Among Elon Musk Supporters for Twitter Takeover
It should be noted that while some people are concerned about how Elon Musk’s acquisition of Twitter will affect Twitter moderation, others support the operation. Those supporters include Twitter founder and former CEO Jack Dorsey. A few days ago, this one announced that he trusted Musk to run the network. social. “Basically, I don’t think anyone should own or manage Twitter. The network wants to be good public at the protocol level. However, Elon is the only solution I trust. i trust her mission to carry the light of conscience further,” he said. “Ilon’s goal is to create a platform in which maximum people are trusted and which will be broadly inclusive” is correct. This is also the goal of Parag Agrawal and that is why I chose it. Thank you both for bringing the company out of this hopeless situation,” he said. Changpeng CZ Zhao, head of Binance cryptocurrency exchange, is also in favor of buying Twitter, so son the company is involved in this operation. In April, in response to Elon Musk’s announcement of a proposal to buy the social network, Zhao suggested that Elon Musk remove Twitter from the exchange, issue a token and decentralize the platform.
Privatize it issue It has token, decentralize it. The cost of one blue tick is reduce spam/fraud. NFT, Metaverse… https://t.co/Ws3b9uXzbG — CZ ???? Binance (@cz_binance) April 14, 2022
Moreover, according to the explanations of the Binance representative cited by the Coindesk website, this participation is up to 500 millions dollars refers to the company “as a supporter of plans Elon Musk for Twitter and as an investor. “A small contribution to cause ” Zhao tweeted after the commitment was made official.
IT HAS small contribution to the cause. https://t.co/xD9XZxOWfL—CZ ???? Binance (@cz_binance) May 5, 2022
The Tesla boss is known to favor cryptocurrencies such as Dogecoin or Bitcoin. Moreover, as noted by the Coindesk website, after the formalization of the Binance obligations, the price of the Binance coin or BNB (cryptocurrency of the exchange) increased slightly compared to the dollar before stabilization.
