Binance in May said it had committed US$500 million for the takeover as part of its strategy to bring social media and news sites into the world of web3.
Binance Holdings Ltd., the world’s largest cryptocurrency exchange, confirmed that it’s an equity investor in Elon Musk’s US$44 billion ($61.92 billion) acquisition of Twitter Inc.
“We aim to play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology,” Binance said in a statement, citing Changpeng “CZ” Zhao, its billionaire co-founder.
