Currently, Elon Musk's acquisition of Twitter has confirmed cryptocurrency exchange operator Binance as an equity stakeholder.
In a statement, Binance founder and CEO Changpeng Zhao stated, "We hope to play a role in bringing social media and web3 together in order to promote the use and adoption of crypto and blockchain technology. We're delighted to be able to assist Elon realize a new vision for Twitter."
Musk reportedly fired Twitter's senior executives, including CEO Parag Agarwal, after the $44 billion acquisition closed yesterday. According to a recent Bloomberg article, Musk intends to take over as CEO of Twitter and lift the platform's lifetime account termination policy.
Following a months-long on-again, off-again battle between Musk and Twitter, news of Binance's investment has surfaced. Binance had promised $500 million in May to invest in Twitter in conjunction with Musk's acquisition of the social media platform. According to a spokesman for Binance:
"Our initial commitment remains the same and we look forward to exploring opportunities to grow the partnership in the future."
