Binance has committed $500m to co-invest in Twitter

Binance has participated in Elon Musk's $44 billion acquisition of Twitter. according to data filed with the United States Securities and exchange commission. 

Binance has committed $500m to co-invest in Twitter

On may 5 Musk filed an amended general statement of the acquisition, announcing that Twitter received an aggregate of about $7.2 billion in new financing commitments in connection with the merger agreement, subject to the conditions in co-investor equity commitment letters. 

Binance is one of 18 co-investors in the acquisition of giant crypto industry players. like Sequoia Capital Fund and Fidelity Management and Research Company. 

Binance is the fourth biggest contributor which invested $1 billion, Sequoia Capital and Wcapital donated $800 million and 700 million respectively. 

Binance CEO Changpeng Zhao said on Twitter after the filing became public, describing the company investment as a "small contribution to the cause."

The listed equity investor mentioned in the document has committed to contribute immediately before the closing of the acquisition  "Equity investors have retained an option to satisfy such Equity investor's commitment with shares of common stock held by such equity investor valued at $54.20 per share"

Elon Musk officially declared the acquisition of Twitter on April 25, with the $44 billion worth of transaction expected close in 2022. He previously said that one of his top priorities for Twitter would be to remove "spam and scam bots and the bot armies" related to crypto. 

Furthermore, Alon Musk was pushing Binance to address some issues on its platform causing a small Twitter battle with the Binance CEO Musk specifically brought up a problem related to some Dogecoin (DOGE) withdrawals stuck in Binance 

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