CZ's New Book Admits Binance's Investment in X Was a Snap Decision, Says Musk Rejected FTX Because He's a Good Judge of Character

Odaily News CZ recalls the details of investing in Twitter (now X) in 2022 in his personal autobiography "Binance Life," stating: "In April 2022, news broke that Musk was going to acquire Twitter. My first reaction was: 'Great! At least Twitter's update speed will improve.' A few days later, the investment team told me: we can participate in the investment. We had a short meeting: invest or not? How much to invest? Is the valuation expensive? Honestly, I had no idea. After a 30-minute meeting, we decided to invest $500 million to support Twitter's privatization. That number was basically decided on a whim by a few people, without any detailed data analysis. The reason was simple: we want money to be more free, so we must support freedom of speech."

"I only spoke with Musk briefly. We're both busy and don't like small talk, so the conversation was short and direct. He only mentioned: he hopes to run Twitter his own way. I had no objections... For the $500 million investment, I only attended a few meetings. We are still a small shareholder in Twitter (now called X). X later merged with xAI, so we also became a small shareholder in xAI. And when xAI merged with SpaceX, we became a tiny shareholder in SpaceX. Later, I learned from the news that FTX also wanted to participate at the time. But Musk's 'scam radar' went off, and he didn't let them join. I have to say, even though Elon says he has Asperger's, his judgment of people is quite accurate."