Binance cooperates to buy Twitter with $500 million

Buying Twitter has captured the attention not only of Elon Musk, but also of those who teamed up with the American entrepreneur to achieve it. That is the case of Binance, the world’s largest cryptocurrency exchange.

In a joint transaction, Binance would commit to pay 500 million dollars so that Elon Musk can finalize the purchase of Twitter. The amount of money belongs to a fund with an approximate value of 7,139 million that has the backing of more than a dozen investors, according to documents filed by the tycoon with the U.S. Securities and Exchange Commission (SEC).

Apparently, each of the investors would contribute an amount of 5.24 billion, while the Saudi Prince Alwaleed Bin Talal Bin Abdulazis Alsaud, would have the retention of almost 35 million shares. An amount that equals, approximately, 1.9 billion dollars to complete the figure needed for the purchase.

“A small contribution to the cause”, this is what Binance founder and CEO Changpeng Zhao said on Twitter about the amount contributed.

Just a few months ago, Binance became the largest shareholder of the specialized publication Forbes, with a capital investment estimated at about 400 million dollars. A move it made to the Exchange, with 50% of the magazine’s public sale.

Some other investors for the purchase of Twitter are Fidelity, Sequoia Capital or Brookfield, according to SEC documents.

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