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Leading cryptocurrency exchange Binance backs Tesla CEO Elon Musk's purchase of Twitter. According to an SEC filing, the company committed $500 M in equity financing. Binance is one of 19 equity investors. According to the document, the raised amount is above $7 bln.
Other participants include Fidelity, Qatar Holding, Vy Capital, The Lawrence J. Ellison Revocable Trust, and others. Binance Chief Executive Officer Changpeng Zhao (CZ) tweeted about the investment saying it was a small contribution to the cause.
A small contribution to the cause. https://t.co/xD9XZxOWfL
— CZ 🔶 Binance (@cz_binance) May 5, 2022
Saudi Arabian investor Prince Alwaleed bin Talal also backed the financing. Already being a major Twitter shareholder, he made an investment of 34,948,975 shares valued at $54.20 per share. His investment was equal to $1.9 billion dollars.
Earlier, in April it was announced that the billionaire businessman will acquire Twitter for $44 bln. Musk is a supporter of the meme coin Dogecoin. Also, he previously said he owns Bitcoin, Ether and DOGE and had no plans to sell the holdings.