Changpeng Zhao Thinks He Will Stick With Musk’s Twitter Takeover Bid
Binance CEO Changpeng Zhao intends to keep his financial pledge to Elon Musk’s buyout of Twitter, despite the threat of a legal battle from Washington, according to Bloomberg.
Zhao said: “I think so,” when asked if he would stick by it during a conference in Saudi Arabia on Tuesday.
Officials in the Biden administration are investigating whether to submit the Twitter transaction, as well as some of Musk’s other companies, to national security reviews.
Officials are said to be concerned about the number of foreign investors who have promised to fund.
Binance has agreed to put up $500,000 toward Musk’s $44 billion offer. The cryptocurrency exchange is one of the hundreds of investors, including Qatar’s sovereign wealth fund, venture capital company Sequoia Capital, and Fidelity.
Musk stated this month that he still wants to purchase the social media network, despite having backed out of the agreement in July and being sued by Twitter.
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