In 48 hours, Twitter will belong to Elon Musk… and Binance

Elon Musk is preparing to acquire Twitter on Friday. The conclusion of a saga with twists and turns that began several months ago and which kept the tech and financial industry in suspense, while doing damage on both sides. At the same time, we learn that the leader of crypto exchanges Binance will join Musk in this historic investment.

Elon Musk and the blue bird: tweet and end

After many twists and turns, renunciations, exchanges of names of birds (blue), threats of reciprocal lawsuits, the novel of the takeover of Twitter by the whimsical billionaire Elon Musk should find its final chapter in the next 48 hours.

In any case, this is the meaning of the information reported by Bloomberg. On the occasion of a videoconference with bankers, Elon Musk would indeed have indicated that he was ready to complete the transaction on Friday, on the condition of the granting of a loan in the amount of 13 billions of dollars to complete the operation.

It will be recalled that Elon Musk already owns about 10% of Twitter since the beginning of the summer. The businessman was initially committed to a buyout at a price of $54.20 per share, before recanting, notably accusing the network of having deliberately hidden the proportion of proliferating bots on the social network, which is 230 strong. million users.

After various exchanges of courtesies and later legal mediation, Elon Musk is finally preparing to pay the expected price of $44 billion for full ownership of a network. of which he wishes to make the “American We Chat” and to make him reach the billion users.

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Binance Party

The WeChat micro-blogging network comes with a system allowing micro-payments between users, a function that Elon Musk covets. However, things being decidedly well done, we recalled yesterday on the JDC that Twitter was currently working on a prototype of an integrated wallet, allowing crypto deposits and withdrawals in app.

The combination of this information will thus make the second information of the day unsurprising, namely that Binance plans to join forces with Elon Musk to acquire Twitter. The thing is not completely new, it was already mentioned at the beginning of October. However, it is through the voice of the boss of Binance himself that the information is confirmed today.

Chanpeng Zhao indeed explained a few hours ago, during a conference organized in Saudi Arabia, that he would join the dozens of investors standing alongside the Californian billionaire in this mega-acquisition. Binance will thus contribute $500,000 to the war effort. A sum that might seem ridiculous but which is heavy with symbolism, even though everything indicates that the social network of the future will be crypto, or it will not be.

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