On April 30, 2018, Twitter Inc. announced that it had received $7.2 billion in equity commitments from Binance and 17 other investors as part of a new investment round to help “support the company’s next stage of growth.”
The “binance twitter” is a tweet that was posted by Binance, which announced that the exchange had received $7.2B in equity commitments from 17 other investors.
After his $44 billion purchase of Twitter, Elon Musk submitted an update to Schedule 13D under the Securities Exchange Act of 1934 on May 4.
Twitter got $7.139 billion in finance pledges from 18 co-investors, according to the filing.
The Crypto Twitter Discussion Expands
Although the specifics of these donations have not yet been disclosed, the equity commitment letters received by Elon Musk do outline the parameters of the contribution.
Some important companies in the crypto and financial world were among the 18 “Equity Investors,” including Fidelity Management, Sequoia Capital, Strauss Capital, and Binance.
The world’s largest cryptocurrency exchange contributed $500 million to Twitter, while the Lawrence J. Ellison Revocable Trust gave the greatest contribution of $1 billion.
Changpeng Zhao, the Founder and CEO of Binance, described it as “a little contribution to the cause.”
Elon’s ambitions to enhance Twitter have been in the works since he took control, and the world’s wealthiest man has already included a downvote option to the Twitter mobile app to combat spambots. For a long time, Elon has been obsessed on this issue.
We will battle the spam bots or die trying if our Twitter bid succeeds!
April 21, 2022 — Elon Musk (@elonmusk)
And now that Binance is behind Elon, his Twitter enhancement objectives might be met much more quickly.
The Binance Price is on the Right Track
Binance understands the importance of seizing opportunities, which is why the cryptocurrency exchange invested in Twitter. Binance has made it a priority to stay ahead of the curve, as seen by their most recent accomplishment.
Binance was approved to operate in France earlier yesterday, making it the first fully regulated digital asset service provider in Europe, cementing its position as an industry leader.
While the exchange is making progress in terms of development, it disappoints its supporters in terms of investment. Binance Coin (BNB), Binance’s native coin, has been performing poorly on the exchanges.
While several cryptocurrencies in the crypto market reached new all-time highs in November 2021 or February 2022, BNB has not done so in almost a year. BNB is nearly 90% away from ever exceeding the ATH of $704.6, which it last touched in May 2021. The disparity is only widening, as seen by the 18.5 percent drop this month.
BNB, which is now trading at $372, has lost almost 7.2 percent in the previous 24 hours as the overall market fell, raising investor concerns about their holdings.
Simply said, although Binance has a strong grasp on the global user population, it may be losing investor trust.
With other altcoins like as Terra, Avalanche, Solana, and others gaining traction in recent months, the prospect of Binance’s investors abandoning it for one of the others looms large.
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