Key facts:
The exchange will have to pay at the time of purchase or “just before”.
Last February, Binance became the largest shareholder in Forbes.
Elon Musk is not alone in his quest to carry out the acquisition of Twitter. And among those who accompany him is the largest bitcoin and cryptocurrency exchange in the world: Binance.
The exchange committed to a contribution of 500 million dollars for the purchase of the social network by the businessman. That sum of money is part of a fund of some 7,139 million that had the commitments of more than a dozen participants, as shown papers filed by Musk with the United States Securities and Exchange Commission (SEC).
The amount is divided into some 5,240 million committed by various investors and the possibility of retaining almost 35 million shares by the Saudi prince Alwaleed Bin Talal Bin Abdulaziz Alsaud. That number of shares equates to just under $1.9 billion that they would complete the lifting of some 7,139 million.
The total amount of the fund is equal to approximately to a sixth of the total of 44,000 million dollars offered by Musk to take over Twitter.
Binance founder and CEO Changpeng Zhao commented through that same social network that the amount committed by the exchange is just “a small contribution to the cause.”
Before this investment, in February the Zhao exchange had already become the largest shareholder of the specialized media Forbes. With a capital investment of about 400 million dollars, Binance took 50% of the public sale of the magazine. The same one that a couple of years earlier had sued for defamation, as we reviewed in CriptoNoticias.