Crypto exchange Binance has made a $500 million equity commitment to help finance Elon Musk’s takeover of Twitter.
There’s an Binance name on the list of Twitter’s new investors.
According to an amended 13-D schedule filed with the U.S. Securities and Exchange Commission on Wednesday, Binance had the fourth-largest commitment among a dozen equity investors financing Elon Musk’s takeover of Twitter.
Binance pledged $500 million per the filing, while other institutions, including the Lawrence J. Ellison Revocable Trust, Sequoia, and VyCapital, invested $1 billion, $800 million, and $700 million, respectively.
Binance CEO Changpeng Zhao called $500 million investment a “small contribution to the cause.”
The aggregate value of the newly reported commitments totals around $7.139 billion, 16.225% of what Musk paid for Twitter.