Zhao reveals Binance’s $500M Twitter investment now worth over $1B amid exchange with Musk
Binance was among the investors that helped finance Musk’s $44 billion acquisition of Twitter in October 2022. The social media platform was subsequently renamed X. Zhao’s response brought to light the estimated value of Binance’s holdings linked to the original Twitter investment, which he claimed had more than doubled.
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TechWatch PH
The investment’s current estimated value came to light after Zhao responded to Musk’s mocking reactions to the massive cyberattack on Binance, the world’s largest cryptocurrency exchange.
“Elon, have a lot of respect for you, but bad time to troll. Please stop,” Zhao wrote on X on October 30, 2026.
“Our SPCX shares (from our $500m investment in your Twitter takeover) are worth more than a billion. Would appreciate if you show a little support. Thanks!”
Binance was among the investors that helped finance Musk’s $44 billion acquisition of Twitter in October 2022. The social media platform was subsequently renamed X.
Zhao’s response brought to light the estimated value of Binance’s holdings linked to the original Twitter investment, which he claimed had more than doubled.
The current valuation and ownership arrangement have not been independently verified.
The exchange between the two billionaires followed reports that hackers had stolen approximately $6.36 billion in cryptocurrency from Binance wallets.
Musk posted reactions to the incident on X, prompting Zhao to criticize him for making jokes while the exchange was dealing with a major security breach.
Binance co-CEO Yi He subsequently indicated that the company did not need to sell its SpaceX holdings to cover the losses, citing its financial resources.
Zhao also clarified that he was not suggesting the sale of the shares.
Binance confirmed the security incident and temporarily suspended withdrawals on several networks. The exchange maintained that customer funds were safe while investigations continued.
Key points
- Binance was among the investors that helped finance Musk’s $44 billion acquisition of Twitter in October 2022. The social media platform was subsequently renamed X. Zhao’s response brought to light the estimated value of Binance’s holdings linked to the original Twitter investment, which he claimed had more than doubled.