Disputes, Employee Misconduct Rattle Centerview’s Silicon Valley DreamsRead more

Art by Mike Sullivan

Crypto-Friendly Funders to Finance Musk Twitter Bid; Block Bitcoin Revenue Falls

Photo: Art by Mike Sullivan

Elon Musk is getting some help for his Twitter bid from a few crypto-friendly funders, which could add momentum to decentralize Twitter or move it to a blockchain. But with a recent report that Musk may seek to take the company public again in three years, it’s unclear if that ambition is realistic. 

A new Securities and Exchange Commission filing Thursday revealed that Binance, the biggest crypto exchange in the world, is investing $500 million to help Musk finance the Twitter acquisition. On the list of 18 investors joining Musk, Binance is the fourth largest funder. Among the other crypto-friendly backers: venture-capital firms Andreessen Horowitz and Sequoia Capital, which both have extensive crypto investing operations, and DFJ Growth IV Partners, which has backed crypto exchange Coinbase and back-end blockchain services startup Alchemy. Oracle Chairman Larry Ellison, the largest investor joining Musk with $1 billion, has also toyed with crypto, setting up a decentralized autonomous organization for his sailing league, working with Near Protocol

Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Former Apple design chief Jony Ive and OpenAI CEO Sam Altman. Photos by Getty.
Designer Jony Ive and OpenAI’s Sam Altman Discuss AI Hardware Project
Jony Ive, the renowned designer of the iPhone, and OpenAI CEO Sam Altman have been discussing building a new AI hardware device, according to two people familiar with the conversations.
From left to right: Blair Effron, Robert Pruzan and David Handler. Photos by Getty; Tidal Partners.
Exclusive Finance
Disputes, Employee Misconduct Rattle Centerview’s Silicon Valley Dreams
The San Francisco Bay Area–based bankers at Centerview Partners, the investment bank that advised Silicon Valley Bank’s owner and Credit Suisse through recent turmoil, got two doses of bad news last week.
From left, a Google TPU, Broadcom CEO Hock Tan and Google Cloud chief Thomas Kurian. Photos via Getty, Google and YouTube.
Exclusive google semiconductors
To Reduce AI Costs, Google Wants to Ditch Broadcom as Its TPU Server Chip Supplier
Google executives have extensively discussed dropping Broadcom as a supplier of artificial intelligence chips as early as 2027, according to a person with direct knowledge of the effort.
Art by Clark Miller
Exclusive startups entertainment
MasterClass Takes a Crash Course in Frugality
MasterClass had a problem with the shoot featuring its latest star instructor, Walt Disney Co. CEO Bob Iger.
Photos via Eiso Kant (left) and YouTube/VMWare Tanzu (right)
AI Agenda startups ai
How GitHub Copilot’s Co-Creator Raised $126 Million to Compete with His Former Employer
Recent interest in artificial intelligence has focused on large-language models that aim to do everything from writing Shakespearean poetry to solving math riddles.
Art by Clark Miller
The Big Read policy
Europe Has Figured Out How to Tame Big Tech. Can the U.S. Learn Its Tricks?
Late last month in Belgium, Sen. Elizabeth Warren (D-Mass.) had a pressing question for Paul Tang, a Dutch politician and member of the European Parliament.