Binance to Invest $500 Million in Elon Musk Twitter Buyout
Changpeng Zhao. Source: A video screenshot, Youtube/Entrepreneur ME Changpeng 'CZ' Zhao, the outspoken CEO of major exchange Binance, has announced his company is planning to allocate more than $1 billion to acquisitions and investments in 2022. Binance’s top project in this field is providing $500 million in financing for Elon Musk’s planned takeover of the social media platform Twitter. Earlier this year, a Delaware judge ruled that Musk and Twitter have until October 28 to close the deal, with Zhao’s statement indicating Binance could play a role in the potential transaction. To date, the exchange has earmarked $325 million for a total of 67 projects this year, compared with $140 million committed in 2021, Bloomberg reported . This confirms Binance’s determination to continue its expansion drive in 2022 despite the ongoing crypto market downturn. “We did look at a lot of lenders in recent months because that’s where all...