According to reports on October 28, crypto exchange Binance intends to create a team to work on crypto and blockchain solutions on Twitter following the acquisition of the social media company by tech billionaire Elon Musk.
The event comes just hours after Binance founder and CEO Changpeng Zhao confirmed that the company backed Musk with $500 million in funding, making the crypto exchange the fourth-largest contributor among the 19 investors who provided $7 billion to the Tesla founder.
On Twitter, CZ confirmed that the money had been transferred earlier this week and clarified that the transaction was made through traditional banking services using fiat currency, and not through cryptocurrencies or blockchain protocols.
In May 2022, the crypto exchange indicated that it would jointly invest in Twitter along with other investors. CZ classified the company’s investment as “a small contribution to the common cause.”
