Why Binance Made a $500 Million Investment In Musk’s Twitter Takeover

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By Katherine Ross Ross Mac, host of Maconomics, gives his thoughts on what the Binance has been confirmed as one of the investors that helped Elon Musk secure his deal to buy Twitter TWTR. The deal, which just closed, is worth $44 billion. Of that, Binance contributed $500 million, according to CEO Changpeng Zhao. Zhao, who goes by CZ, confirmed the investment on Twitter. The investment was first mentioned in May following an amended 13D filing, which showed that the cryptocurrency brokerage had given Musk an equity commitment letter for $500 million. In response, CZ tweeted, “a small contribu…

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