CZ Reaffirms $500 Million Support for Elon Musk

Changpeng Zhao (CZ), CEO of Binance, reminded his followers on the X platform of Binance’s $500 million investment in Elon Musk’s Twitter acquisition.

CZ also highlighted Binance’s early and public support for Musk’s bold move, commenting, “Happy to be part of this cause,” along with a screenshot of the Investopedia headline.

When Elon Musk finalized his $44 billion acquisition of Twitter in late 2022, initial public reactions were mixed. Musk’s plan to restructure Twitter and turn it into an “all-in-one app” led the traditional press to predict that the deal would lead to chaos and the platform’s demise. Critics worried about losing advertisers, user churn, and a collapse of moderation.