Elon Musk‘s $44 billion USD bid to buy Twitter has now attracted the eye and cash from cryptocurrency corporations and platforms. In accordance with new stories, crypto large Binance has determined to take a position $500 million USD into Musk’s imaginative and prescient of a decentralized Web3 web, which aligns with the corporate’s CEO Changpeng Zhao’s personal aspirations.
The fairness fund will kind a part of a $7 billion USD financing pledge from a variety of corporations together with Oracle, which all search to appreciate Web3 and combine blockchain into extra mainstream use. “We’re excited to have the ability to assist Elon notice a brand new imaginative and prescient for Twitter,” Zhao instructed CNBC. “We hope to have the ability to play a task in bringing social media and Web3 collectively and broadening the use and adoption of crypto and blockchain know-how.”
Except for Binance and Oracle, Constancy and Sequoia Capital are each additionally reportedly on board, with the previous planning to take a position $316 million USD whereas the latter has allotted a staggering $8o0 million USD. Nevertheless, although Musk himself has been a giant proponent of blockchain and cryptocurrencies, it’s nonetheless unclear at this level which course he’ll take Twitter on.
Crypto-friendly corporations investing in Twitter:
– Constancy $316 million
– Binance $500 million
– Sequoia Capital $800 million— Blockworks (@Blockworks_) May 5, 2022
In different associated information, Musk has changed his Twitter profile picture to a collage of Bored Ape Yacht Club NFTs.
