Binance To Invest $200 Million In Forbes
Binance, the world’s largest and richest crypto exchange, announced to make an attractive investment of $200 million in Forbes, a more than 104 years well-known magazine and digital publisher, CNBC reported. According to the people involved in the final deal, the funds inducted in Forbes will help out its plan to merge with a publicly […]
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Reports indicate that the world’s largest cryptocurrency exchange by trade volume, Binance, has announced the crypto company has committed to investing $200 million into the American business magazine Forbes. The digital currency company Binance confirmed the $200 million stake into Forbes on the social media platform Twitter.
Binance Pledges $200 Million to Forbes
Binance has made a $200 million investment into Forbes, the U.S.-based business magazine and digital publisher owned by the Forbes family and Integrated Whale Media Investments. A report published by CNBC, and....
Binance, the world’s largest cryptocurrency exchange, is currently grappling with challenges that have raised concerns about its credibility and market performance. Recent reports by Forbes shed light on Binance’s initial coin offering (ICO) and the subsequent distribution of its native cryptocurrency, Binance Coin (BNB). Behind The Curtain The investigation reveals allegations of undisclosed token retention, discrepancies in the ICO process, and the accumulation of a significant token reserve by Binance. Related Reading: This Ethereum Metric Is Retesting The Bear-Bull....
Binance sued Forbes for defamation Wednesday over a story last month that purported to reveal regulatory evasion tactics.
In the wake of increasing regulatory scrutiny, Binance has sought to diversify its revenue streams and increase crypto adoption further by acquiring traditional companies in “each economic sector”. Binance is looking to diversify its business interests by acquiring company’s outside the scope of cryptocurrency, according to a report from the Financial Times. “We want to identify and invest in one or two targets in every economic sector and try to bring them into crypto,” said Binance CEO Changpeng Zhao, affectionately known to his 5.3 million Twitter followers as ‘CZ’.Already holding the....
“Media is an essential element to build widespread consumer understanding and education,” Binance CEO CZ said. Binance, the world’s largest cryptocurrency exchange by trading volumes, is making a strategic investment in the 104-year old magazine Forbes to improve consumer understanding of cryptocurrencies and blockchain.Forbes and Magnum Opus Acquisition Limited, a publicly-traded special purpose acquisition company (SPAC), officially announced Thursday securing a $200 million strategic investment from Binance.Forbes previously announced plans to go public through a business combination....