The post CZ casually brags about helping Elon buy Twitter – “Happy to have contributed to the cause” appeared on BitcoinEthereumNews.com.

When you’re a heroic billionaire who helped finance the most controversial tech acquisition of the decade, you might want to remind people about it. Changpeng “CZ” Zhao, founder and former CEO of Binance, did exactly that. He posted a screenshot, showing an article about Binance throwing in $500 million to help Elon Musk buy Twitter (now X), and captioned it with a confident, “Happy to have contributed to the cause.” The response from Elon was: “Thanks!” The $44 billion journey: From shareholder to owner Elon’s road to owning Twitter was anything but smooth. It started in April 2022, when Elon became Twitter’s largest shareholder by purchasing a 9.1% stake. Shortly after, he made an unsolicited offer to buy the entire company for $44 billion, pricing the stock at $54.20 per share. The reasoning? Elon claims he wanted to transform Twitter into a haven for free speech, claiming the platform had fallen victim to excessive censorship. But things got bad fast. Elon tried to back out of the deal, citing concerns over spam accounts. Twitter’s board wasn’t having it and dragged Elon into court. After months of legal drama, Elon gave in and finalized the acquisition on October 27, 2022. The price tag? $44 billion. And let’s be clear, many thought it was an insane overpayment for a platform struggling to stay relevant. But not CZ, evidently. Chaos reigns at Twitter (or X, if you prefer) The moment Elon walked into Twitter’s headquarters carrying a sink, it was clear this wasn’t going to be business as usual. One of his first moves was to fire half the workforce, including entire departments like content moderation and advertising sales. Critics accused him of gutting the company’s infrastructure. Supporters called it necessary streamlining. Elon also rolled out major changes to the platform’s content policies.…

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Filed under: News - @ December 15, 2024 10:22 am