2 years ago
Tesla and Spacex CEO Elon Musk has secured $7.139 cardinal successful caller financing commitments to money his acquisition of Twitter, including from respective pro-crypto companies. Cryptocurrency speech Binance, for example, has committed to put $500 cardinal successful the societal media level alongside Musk.
Crypto-Friendly Companies Join Elon Musk to Buy Twitter
Tesla CEO Elon Musk has secured backing from 18 companies to acquisition Twitter Inc., his filing with the U.S. Securities and Exchange Commission (SEC) connected Thursday shows.
The SEC filing explains that Musk received equity committedness letters from these investors connected May 4 “providing for an aggregate of astir $7.139 cardinal successful caller financing commitments” successful transportation with his projected acquisition of Twitter.
Some pro-crypto companies are connected the database of investors, including Sequoia Capital Fund which committed $800 million, crypto speech Binance which committed $500 million, AH Capital Management (aka Andreessen Horowitz, a16z) which committed $400 million, and Fidelity which committed implicit $300 million.
List of investors committed to investing successful Twitter alongside Elon Musk. Source: SEC filingBinance independently announced Thursday that it “plans to put $500 cardinal alongside Elon Musk successful Twitter buyout.” CEO Changpeng Zhao (CZ) commented:
We’re excited to beryllium capable to assistance Elon recognize a caller imaginativeness for Twitter … We anticipation to beryllium capable to play a relation successful bringing societal media and web3 unneurotic and broadening the usage and adoption of crypto and blockchain technology.
Sequoia Capital is simply a crypto-friendly VC firm. The institution launched a cryptocurrency-focused money of arsenic overmuch arsenic $600 cardinal successful February and has partnered with immoderate cardinal players successful the crypto space, including FTX CEO Sam Bankman-Fried and erstwhile Twitter CEO Jack Dorsey.
Fidelity Investments has agelong been pro-bitcoin, calling the cryptocurrency “a superior signifier of money.” In April, the fiscal services elephantine launched crypto and metaverse exchange-traded funds (ETFs) and announced that it volition commencement allowing bitcoin investments successful 401(k) status accounts.
The largest backing committedness came from Larry Ellison, co-founder of Oracle Corp. and a Tesla committee member. He agreed to put $1 billion.
Saudi Prince Alwaleed bin Talal besides agreed to stay an capitalist of Twitter aft Musk’s takeover. He initially refused to see the Tesla executive’s connection to bargain the societal media platform, stating that his connection did not travel adjacent to Twitter’s intrinsic value.
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What bash you deliberation astir pro-crypto companies investing successful Twitter alongside Elon Musk? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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