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Binance Invests $500 Million in Elon Musk Twitter Buyout

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19-10-2022

Changpeng Zhao, the CEO of crypto exchange Binance, has announced that his company will allocate $500 million to the Twitter takeover by Elon Musk.


The funding is part of the $1 billion oriented toward acquisition and investment projects in 2022. The Delaware judge gave Musk up to the 28th of October to close the deal with Binance. This proposal means that Binance will carry out some of the transactions.


Binance is certainly determined to continue with its expansion despite the crypto downturn. Zhao also stated that the technology with NFTs would stay and could be used in issuing degrees and tickets in the future. Binance has also placed $200 million in investment in the Forbes media company. According to Zhao, the company also plans to invest in gaming companies.