Binance allocated $500 million for Elon Musk’s Twitter purchase
The entrepreneur gave this information in a report to the SEC
05.05.2022 - 14:20
555
1 min
0
What’s new? The Binance cryptocurrency exchange has allocated $500 million to fund the purchase of the social network Twitter, which was initiated by SpaceX and Tesla CEO Elon Musk. He revealed this information in a report to the US Securities and Exchange Commission (SEC).
Who else invested in the purchase? According to the filing, equity investors gave $7,14 billion. The Lawrence J. Ellison Revocable Trust wrote the largest check for $1 billion. In second place was Sequoia Capital, which invested $800 million. Third place went to VyCapital, which provided $700 million.
What events happened before? In late April, Twitter’s board of directors approved Musk’s proposal to buy the social network for $44 billion, at $54,20 per share. Cardano blockchain founder Charles Hoskinson had previously offered Musk help in creating a decentralized version of Twitter if his purchase offer was rejected.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024