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Binance supports Elon Musk with $500 million in Twitter acquisition

Binance supports Elon Musk with $500 million in Twitter acquisition

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Answer Binance supports Elon Musk with $500 million in Twitter acquisition

A file recently filed with the Securities and Exchange Commission revealed that Elon Musk had received support from several large institutions in his first attempt to buy Twitter.

One of these names was the world’s largest cryptocurrency exchange, Binance, whose native cryptocurrency jumped to its highest level in two weeks after the news broke.

Last month, it became known that Musk had bought a 9.2% stake in the social media giant, which was just the beginning of an exciting story.

Soon, he got involved with the idea of ​​becoming a member of the board of directors, but eventually rejected the proposal.

What followed was somewhat more significant as the billionaire said he wanted to buy Twitter and turn it private.

Read:ETH Price Analysis: Will the Ethereum Price Recover Soon?

Despite some criticism and uncertainty, reports emerged in late April claiming that Twitter had finally accepted an offer worth $44 billion.

He appears Register An update to Table 13D with the US Financial Supervisory Authority says that Musk has received support for his proposal from 18 investing companies, including some with connections to the cryptocurrency industry.

Sequoia Capital committed $800 million, Fidelity just over $316 million, and Binance $500 million.

Interestingly, BNB jumped almost 5% after the news broke and reached a two-week high of over $410, then traded back at $405.

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