Cryptocurrencies
Binance Backs Musk Bid With Eye on Bringing Twitter to Web3
- Crypto exchange commits $500 million in Musk’s new financing
- Zhao aims to broaden adoption of crypto and blockchain tech
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Binance Holdings Ltd. has committed $500 million for Elon Musk’s proposed takeover of Twitter Inc. as part of its strategy to bring social media and news sites into the world of web3.
“We’re excited to be able to help Elon realize a new vision for Twitter,” Changpeng Zhao, chief executive officer of Binance, said in a statement. “We hope to be able to play a role in bringing social media and web3 together and broadening the use and adoption of crypto and blockchain technology.”