CZ Indicates Binance Support for Musk Twitter Takeover

by BSC News

June 20, 2022


Binance CEO Changpeng Zhao has reaffirmed his support for Elon Musk's plan to buy Twitter outright.

CZ is Determined to Help Elon Musk

Changpeng Zhao (CZ) is all in on Elon Musk’s Twitter bid. 

In an interview with Bloomberg on May 16, the Binance CEO said he would be “disappointed” if Musk decided not to go through with the deal to buy Twitter. However, Zhao said he was prepared to do everything to support the Tesla CEO if the wealthiest billionaire on the planet pursued this deal to the end.

“Elon Musk is leading. We are following. If he hadn't, I think we'd be gone.” CZ revealed in the interview.

A filing with the US Securities and Exchange Commission (SEC) in May 2022 revealed that Binance poured up to $500 million to support Elon Musk's offer to buy Twitter. More surprisingly, many other well-known cryptocurrency investment funds in the market also participated in this fund with a "huge" contribution value, including Sequoia ($800 million), Fidelity ($316 million), and a16z ($400 million USD).

The community is placing a lot of faith in the future of Twitter in the hands of Elon Musk. The entrepreneur has claimed his purpose for acquiring Twitter is solely to support free speech in the world and improving the platform. The campaign seeks to solve fake accounts and spam problems, and upgrade user utilities.

What is Binance:

Binance is the world's largest cryptocurrency exchange, founded in Shanghai, China, by Changpeng Zhao (CZ). Binance supports over 740 trading pairs on its platform. 

With a low transaction fee (0.1%) as well as fast transaction processing, Binance has become the exchange with the most significant trading volume in the cryptocurrency market. Binance exchange's technology can process 1.4 million orders per second, making it a top exchange in terms of the trading volume.

Where to find Binance:

Website | Twitter | Discord | Telegram |

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