Binance contributed $500M to the Twitter takeover

Binance confirmed its role as a co-investor in the Twitter takeover. The exchange is the fourth biggest contributor to the deal.

Keyboard with a tweet key

Binance founder Changpeng "CZ" Zhao confirmed its company's participation in Twitter takeover. The world's biggest crypto exchange commited $500 million to close the deal. In today's post Zhao disclosed that the money was wired two days ago.

"We're excited to be able to help Elon realize a new vision for Twitter. We aim to play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology," he said earlier in a statement.

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The news of Binance joining Musk as a co-investor broke out in May this year. Zhao then called it “a small contribution to the cause.” But the official confirmation from the company arrived only today, soon after the completion of the $44B Twitter takeover.

With $500M invested, Binance is the fourth largest contributor to the deal, following Lawrence J. Ellison Revocable Trust, Sequoia Capital, and VyCapital.

In the meantime, US officials have been discussing the viability of subjecting the Twitter deal, along with some other Musk's ventures, to national security reviews. The authorities are concerned about the involvement of foreign actors, such as Prince Alwaleed bin Talal of Saudi Arabia or Zhao, who is a Chinese native with a Canadian passport, currently based in Singapore.