Binance, Sequioa Capital and Andreesen Horowitz Chip In to Help Elon Musk Finance Twitter Takeover

With CEO Changpeng ‘CZ’ Zhao calling it a “small contribution to the cause”, cryptocurrency exchange Binance has chipped in $500 million to help Elon Musk finance his $44 billion Twitter takeover.

In a filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday, the world’s largest crypto exchange by volume was in the list of involved equity investors.

A small contribution to the cause. https://t.co/xD9XZxOWfL

— CZ Binance (@cz_binance) May 5, 2022

https://platform.twitter.com/widgets.js

Around $7.1 billion has been committed by 19 groups, which include a $800 million contribution by venture capital firm Sequoia Capital, Andreesen Horowitz putting aside $400 million and Fidelity Investments reserving $316 million to take the social media platform private again.

1/First some news, we are joining Elon Musk’s bid for Twitter and investing $400MM into the company.

— benahorowitz.eth (@bhorowitz) May 5, 2022

https://platform.twitter.com/widgets.js

Musk, CEO of Tesla and SpaceX, is buying Twitter to turn it into the platform it was once intended for, a place where free speech flows. The billionaire is a notorious supporter of cryptocurrencies, especially Dogecoin.

Early April, upon breaking of the news that Musk made his offer, the Binance CEO said on Twitter:

Privatize it, issue a token, decentralize it.

Cost per blue tick accounts to reduce spam/scam. NFTs, metaverse… https://t.co/Ws3b9uXzbG

— CZ Binance (@cz_binance) April 14, 2022