Chinese Communist Party-linked companies and investment funds are listed amongst the financiers of Elon Musk’s bid to purchase Twitter, a new Securities and Exchange Commission document reveals.
The revelation comes from a May 4th amendment filed by Musk which shows over one dozen equity investors – either people or companies funding his purchase in exchange for a share of ownership – in Twitter.
“Each Equity Investor listed in the following table has committed to contribute to Parent […] cash in the amount set forth opposite such Equity Investor’s name in the following table in order to fund a portion of the Merger Consideration contemplated by the Merger Agreement,” explains the document before revealing the following investors: Equity Investors. Among the companies providing billions in investment is the Chinese Communist Party-linked cryptocurrency exchange platform Binance, whose aggregate equity commitment totals $500,000,000.
Founded by Changpeng Zhao, a Chinese-Canadian business executive, Binance retains partnerships with Chinese state-owned entities, as revealed in a 2020 press release :
Binance China Blockchain Institute, the research institute part of the world’s leading blockchain and cryptocurrency infrastructure provider Binance, today announced a strategic partnership with Zhongshang Beidou Supply Chain Management Group (Zhongshang Beidou), a state-level model enterprise for supply chain innovation […]
Read the whole story at thenationalpulse.com
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