Binance, a cryptocurrency exchange operator, is now a confirmed equity investor in Elon Musk’s acquisition of Twitter.
Right after Elon took over Twitter, Binance founder and CEO Changpeng Zhao issued a statement saying,
“We’re excited to be able to help Elon realize a new vision for Twitter. We aim to play a role in bringing social media and web3 together in order to broaden the use and adoption of crypto and blockchain technology.”
Musk reportedly fired Twitter’s top executives, including CEO Parag Agarwal, after the $44 billion deal closed yesterday.
Bloomberg reported today that Musk intends to take over as CEO of Twitter and reverse lifetime account suspensions on the social media platform.
The announcement of Binance’s investment follows a months-long on-again, off-again relationship between Musk and Twitter. Binance committed $500 million to Twitter in May, alongside Musk’s takeover of the social media service.