It's not strange that the billionaire technology entrepreneur and Tesla's CEO Elon Musk has been on the news for different developments. Recent discoveries disclosed Elon’s third-quarter results report, which revealed that the company's Bitcoin stockpile had not plummeted and still held 218 million dollars' worth of digital currency.
Apart from this, the business mogul has also been on the move to acquire Twitter for some time now. In light of this, a fresh development has sprung up.
On Friday, Binance revealed that it has invested in Twitter's acquisition by wealthy internet entrepreneur Elon Musk as an equity investor. This reality came to light via a tweet by CZ, which revealed that Binance sent about $500 million as part of the acquisition two days ago.
Through a message sent through email, the founder of Binance, Changpeng "CZ" Zhao, expressed excitement at the opportunity to assist Elon in realising a new vision for Twitter. He added that he wants to help social media and Web3 work together to increase the utilisation and acceptance of blockchain and cryptocurrency.
After learning of the takeover in early May, CZ responded to the $500 million promise in a tweet regarding it as a tiny contribution to the cause. At the time, CZ said eliminating spam and fraud on the site should be a top concern.
A representative for Binance also said that their original pledge stays unchanged, and they look forward to considering other options to strengthen future collaborations.
What do you think about this move by CZ? Do you see any opportunities coming from it? Kindly share your thoughts with us in the comments section.
