Binance lent Elon Musk money to buy Twitter

The US Securities Commission has published information on the purchase of Twitter by Elon Musk. The document shows that $ 500 million was allocated to Musk by the Binance crypto exchange.

This information was confirmed by the exchange’s CEO Changpeng Zhao in his Twitter account, who modestly said: «This is our small contribution to the cause.»

A small contribution to the cause. https://t.co/xD9XZxOWfL

— CZ? Binance (@cz_binance) May 5, 2022

Mask was granted a margin loan. Margin lending is an opportunity to borrow money or securities for trading. Against your assets, such as securities, the broker lends the assets. This is called leverage. The amount of leverage depends on what assets you have.