Twitter Sues Binance Over Elon Musk’s Purchase Of The Social Network

Twitter Sues Binance Over Elon Musk's Purchase Of The Social Network

Twitter Sues Binance Over Elon Musk’s Purchase Of The Social Network

  • Twitter Sues Dozens of Companies, Including Binance Exchange
  • The company wants to receive data on Musk’s correspondence regarding the purchase of the social network.
  • Billionaire files counterclaim against Twitter

One of the biggest scandals of 2022 is gaining momentum. Twitter lawyers are suing Binance representatives in the case of the purchase of the social network by billionaire Elon Musk. In addition, the firm requires the exchange to provide any records relating to the discussion of the transaction.

Last Tuesday, August 2, Twitter lawyers sent out more than a dozen subpoenas to consultants and creditors of a well-known entrepreneur. The day before, similar “news” was received by Musk’s partners and some bankers.

The company is interested in data related to the failed deal to buy the social network for $44 billion. In particular, the following received a subpoena:

  • Binance;
  • Factorial Funds;
  • Bandera Partners;
  • Benefit Street;
  • Founders Fund Growth II Management.

Twitter representatives demand that partners and supporters of Elon Musk hand over documents or messages related to the case. With such maneuvers, the lawyers of the social network want to find out with whom the billionaire discussed the issue of fake Twitter accounts. In fact, even personal conversations are now part of the trial.

In light of these events, it is worth recalling the recent statements of the head of Binance. Speaking about the API problem in the mentioned social network, Changpeng Zhao expressed support for Elon Musk. Moreover, the founder of the exchange said that the billionaire overestimated Twitter when he offered his management $44 billion for the company.

However, the head of Tesla and the founder of SpaceX is also not sitting idly by. Last Friday, July 29, he filed a counterclaim against the social network. The details of this document are not yet known. Musk claims he decided to back out of buying Twitter because of the large number of fake accounts.

We previously wrote about a group of Celsius creditors who hired a lawyer to recover $180 million. About 400 people are seeking compensation from the company on their depository accounts

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