Changpeng Zhao of Binance said he will continue to support Musk’s Twitter acquisition deal
The CEO of Binance, Changpeng Zhao will maintain his financial support for Musk’s Twitter acquisition plan.
Changpeng Zhao, CEO of Binance has reportedly claimed that he would continue to support Elon Musk’s $44 billion Twitter acquisition despite “growing worries from Washington about foreign investors backing the bid offer.”
CZ, the CEO of Binance has pledged $500 million to Musk’s Twitter deal. Changpeng Zhao, the CEO of the prominent cryptocurrency exchange Binance, has said that he would continue to back Musk’s Twitter acquisition proposal.
During the Kingdom’s Future Investment Initiative Conference in Riyadh, Saudi Arabia, Zhao was questioned whether he would honour his financial pledge to Musk over his Twitter bid offer. Zhao said openly, “I believe so.”
According to the Bloomberg article, Biden administration officials are presently discussing whether the United States could intervene and submit several of Musk’s projects, including Starlink and his Twitter transaction, to national security evaluations.
According to the story, some US authorities are particularly worried about the variety of foreign investors now supporting Musk’s Twitter offer. According to Gregory Lafitte, head of merger arbitrage trading at Tradition Securities and Future, Prince Alwaleed Bin Talal of Saudi Arabia, Binance’s CEO Changpeng Zhao, and Qatar’s sovereign wealth fund are presently supporting Musk’s takeover offer.
CZ had already declared his intention to invest $500 million in Musk’s Twitter transaction. CZ said on Binance’s website that the business is “eager to assist Elon in realizing his new vision for Twitter.”
Mirae Asset Group of South Korea has entered the Twitter bidding war and plans to contribute $208 million to Musk’s offer, a source familiar with the situation told Reuters.
Mirae Asset is reported to have established a number of business relationships with Tesla’s CEO, Elon Musk, including investment in SpaceX, Musk’s rocket and satellite firm.
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