Editors News- CZ pledged to support the offer when it was made public in April.
- Earlier this year, Musk discussed with other cryptocurrency billionaires how they may decentralize Twitter.
Binance is most likely to honor its commitment to contribute $500 million to Elon Musk’s attempt to acquire Twitter for $54.20 a share. Changpeng Zhao (CZ), the exchange’s CEO, was recently questioned about whether he still supported his fellow billionaire. He stated, “I think so,” on Tuesday while speaking at the Future Investment Initiative conference in Riyadh, Saudi Arabia.
CZ pledged to support the offer when it was made public in April, joining a small group of other financial institutions with an interest in cryptocurrencies, like Fidelity Management and Sequoia Capital. In earlier messages this year, Musk and other cryptocurrency billionaires discussed how they may decentralize Twitter.
CZ claimed that Binance offered a possibility to aid in bridging social media and news into Web3. Later, he underlined that his backing would only endure as long as Musk carried through on the agreement. The Biden administration is debating whether to conduct national security reviews of some of Musk’s projects. One of them is his acquisition of Twitter.
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Source: https://thenewscrypto.com/will-binance-ceo-stand-by-financial-backing-of-musks-twitter-bid/