Binance commits $500m to finance Musk’s Twitter takeover

cryptocurrency exchange Binance loses operating licence in UK

Binance

Binance, the world’s largest cryptocurrency exchange, is participating in Elon Musk’s $44 billion acquisition of Twitter, according to data filed with the United States Securities and Exchange Commission.

Elon 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.

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According to the document, Binance is one of 18 co-investors in the acquisition alongside major crypto industry players like Sequoia Capital Fund and Fidelity Management and Research Company.

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