As Elon Musk’s Twitter takeover is completely finalized, the CEO of Binance stated that the company wired $500 million to acquire a portion of equity.

Elon Musk’s high-profile takeover of Twitter was supported by Binance, according to Changpeng “CZ” Zhao, CEO of Binance.

On October 27, Musk reportedly closed the sale, and the new owner of the social media network apparently cleaned house as he led a few Twitter officials to the door.

Binance wired $500 million to support Musk’s purchase of Twitter — CZ

Binance had previously stated that it would co-invest in Twitter with 18 other investors, including cryptocurrency investment firms Sequoia Capital Fund, Fidelity Management, and Research Company, in May 2022.

On October 28, Binance’s founder confirmed that the company had indeed put money on the table as Musk finalized his ownership of Twitter. CZ used the newly acquired platform to confirm that the funds had been wired earlier in the week.

In response to a question in the thread, CZ stated that he was not involved in facilitating the transaction and joked that he assumed the transaction was handled through traditional banking channels rather than a blockchain or cryptocurrency transaction.

Binance’s $500 million investment in Twitter ranks it fourth in terms of contribution to the takeover. The Lawrence J. Ellison Revocable Trust contributed $1 billion to Musk’s acquisition of the social media platform, making it the largest contributor.

Cointelegraph has reached out to Binance to learn more about its Twitter investment, total shareholdings, and other potential partnerships.

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