Binance’s investment in Twitter came after Elon Musk’s acquisition of Twitter to support the company, with Binance’s CEO saying the company sent Elon Musk $500 million per share of stock as Twitter eventually acquired him.

Musk succeeds in Binance’s investment in Twitter … and acquisition

says Zhao Zhao, CEO of BinanceBinance’s $500 million Twitter investment also backed the acquisition of Twitter and its new chairman, Elon Musk, at the same time.

Musk closed the deal on October 27, firing some Twitter executives.

Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS

— Elon Musk (@elonmusk) October 27, 2022

Discussions about an investment in Binance began on Twitter in May 2022, along with 18 other investors, including crypto investment firms Sequoia Capital Fund and Fidelity Management and Research Company.

Binance’s founders confirmed on October 28 that the company has already put its money into Twitter, thanks to Elon Musk’s success in the Twitter deal and the acquisition of Twitter.

For Binance, CZ said it provided an opportunity to help connect social media and news on Web3. However, he has previously made it clear that his support for Twitter will remain until Musk follows through and wins the deal.

Responding to questions received, Czechoslovakia said it was not involved in facilitating the transaction and joked that the transaction was done through traditional banking methods and not through digital currencies.

Binance’s $500 million stake in Twitter made it the fourth-largest contributor to the acquisition.

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