According to CZ, Binance is also involved in Elon Musk's takeover of Twitter

The takeover of short messaging service Twitter by Tesla boss Elon Musk appears to be in the final stages. Despite the troubles, Binance is sticking with CEO Changpeng Zhao's financial involvement.

In April, multibillionaire Elon Musk said he wanted to buy Twitter's short messaging service, which is also important to the crypto industry. Initially, Twitter's management wanted to reject the offer, later Elon Musk wanted to withdraw from the purchase commitment. When "Dogfather" Musk finally realized that the court case about his takeover of Twitter would probably not be successful for him, he conceded again. According to media reports, the $44 billion deal now has to be finalized by Friday to avoid a reopening of the trial. This is why observers are again turning their attention to the group of co-investors Musk wants to bring in to spread the financial risk.

From the perspective of the crypto scene, the participation of the world's largest crypto exchange Binance in Musk's plan is particularly exciting. When Musk unveiled the list of co-investors in May, it also included Binance with $500 million. At the same time, CEO Changpeng Zhao, known as CZ, was already developing ideas to further develop Twitter into Web3 by integrating cryptocurrencies and blockchain technology. It's not surprising, as cryptocurrencies have already seeped into popular online casinos (also called crypto casinos https://bitcoincasinos21.com/) and other areas of the online industry and it has only improved them. Many should be happy that CZ wants to keep a stake in Binance despite the high-profile story of Musk's takeover of Twitter.

"I think so," CZ replied when asked if he and Binance were still involved in Musk's funding for Twitter. This is reported by the financial news agency Bloomberg. According to preliminary information, Musk wants to raise 7 of the $ 44 billion for Twitter through outside investors. Bloomberg notes that some American politicians are outraged that Musk is also attracting foreign money to his group of investors. In addition to Binance, Prince Al-Waleed bin Talal of Saudi Arabia and Qatar's sovereign wealth fund are under scrutiny. However, so far there is no sign that US authorities or politicians want to try to stop the deal between Twitter and Musk and his co-investors.

Conclusion: Twitter will soon be in the hands of Elon Musk - what is in store for Bitcoin and the company?

Twitter plays an important role in public communication for politicians around the world and has become an integral part of the crypto industry as a platform for discussions and announcements. In recent years, Musk has positioned himself as a supporter of Dogecoin (DOGE), while Tesla has already canceled its journey to Bitcoin (BTC). Hopes in the crypto scene now rest on the fact that Musk plans to vigorously monetize Twitter and turn it into a profit. The use of cryptocurrencies is quite possible here, and blockchain technology can also help Twitter become censorship-resistant. If Binance and CZ have secured a short connection with Musk and Twitter by investing $500 million, this has the potential for a cryptocurrency Twitter.

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