Zhao Changpeng: Will continue to provide financial support for Musk's acquisition of Twitter

2022-10-26 01:13:28

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ChainCatcher news, Binance CEO Zhao Changpeng stated on Tuesday at the Future Investment Initiative conference that he will fulfill his promise to provide funding support for Musk's plan to acquire Twitter for $44 billion.

Regarding the Biden administration's consideration of a national security review of Musk's investment projects, Reuters reported that the White House press secretary stated that the information about the national security review of Musk is not accurate.

Previously, Binance and Sequoia Capital were still supporting Musk's $44 billion acquisition of Twitter. A source indicated that as early as April, Sequoia Capital had committed $800 million to this deal, and the company has reserved this funding allocation to support the transaction. A spokesperson for Binance stated that Binance will continue to provide $500 million in funding for this deal.

Previously, Binance stated, "We hope to combine social media and Web3 to expand the widespread adoption of cryptocurrency and blockchain technology." (source link)

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