Binance is one of 18 co-investors that are backing Musk with the Twitter purchase. It is a ” small contribution to the cause “, thanks to CZ.
The world’s largest cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange, Binance has been part of Elon Musk’s $44 billion Twitter acquisition deal.
According to a submitted document on Wednesday with the U.S. Securities and Exchange Commission (SEC), Binance committed $500 million to finance the acquisition. The capital places the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. among one of the biggest contributors to the deal to buy the social networking company; although it is not the only one.
Other companies in the cryptocurrency industry also invested capital to back Musk. The filing indicates that Sequoia Capital, Andreessen Horowitz, Qatar Holdings yFidelity were among the notable firms that pledged funds to the CEO’s acquisition plans. Tesla .
In total, 18 co-investors committed close refers to the closing price; similar to the same term used in stock trading. to USD $7.1 billion. Binance was the group’s fourth-largest contributor, with USD $500 million. after Lawrence J. Ellison Revocable Trust a trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. which invested USD$ 1 billion. Sequoia Capital capital is most commonly defined as the large sum of money you would use to invest. y VyCapital which provided US$800 million and US$700 million, respectively.
The document in question is an update of the Schedule 13D, which was filed with the top U.S. financial regulator this week. As it explains CoinDesk , u Schedule 13D is a form that must be filed with the SEC when an entity acquires more than 5% of the capital stock of a company.
Binance among co-investors
Last week, the board of directors of Twitter officially accepted entrepreneur and billionaire Elon Musk’s offer to acquire the social networking company for a reported $44 billion. The richest man in the world according to Forbes has since said that he will advocate for defending freedom of expression in Twitter .
He has also stressed that one of his priorities as owner of the platform a place to buy, sell and store cryptocurrency will be to combat spam and fraudulent cryptocurrency ads. Musk is also a fan of the cryptocurrency meme. Dogecoin (DOGE), and has made several hints that the platform could adopt it.
The founder and CEO of Binance Changpeng Zhao (“CZ”), called the company’s participation in Musk’s buyout plans a “ small contribution to the cause “ . Zhao made the comment in a tweet after the reports were released. A spokesman for the exchange added to CoinDesk that the movement of Binance it “ as a supporter of Elon Musk’s plans for Twitter and as an investor in the “.
A small contribution to the cause. https://t.co/xD9XZxOWfL
– CZ changpeng Zhao (CZ) is the founder of crypto exchange Binance. ???? Binance (@cz_binance) May 5, 2022
As you remember CoinDesk , CZ had spoken out last month when Musk made his initial offer. “ Private it, issue a token, decentralize it. “he wrote in a tweet the director of Binance at the time. He also agreed with Musk that the priority should be to attack spam and bots automated software that can carry out tasks such as cryptocurrency trades. on the platform.
Other cryptocurrency industry leaders have also shown their support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for Musk in his acquisition plans; including its founder and former CEO, Jack Dorsey, who is a big proponent of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. . While acknowledging that he doesn’t believe anyone should own or manage the social network, he said in a tweet que “ Elon is the singular solution I trust”. .
Brian Armstrong, CEO de Coinbase is an American company that operates a cryptocurrency exchange platform. also recently intervened in the say that ” Elon’s purchase of Twitter is a huge victory for free speech and will probably change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. the trajectory of the world more than most people realize. “.
The most recent news pushed the stock slightly higher. Twitter which were up more than 2% at USD $50.12 in pre-market trading, according to CoinDesk . The native cryptocurrency of Binance , BNB also saw a modest rebound of 3% and was trading at $404 at the time of writing.
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Article by Hannah Estefania Perez / DiarioBitcoin
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