Binance Set to Make $200 Million Investment in Forbes

Binance’s influential role could make the investment trigger more big real-world ventures from the crypto industry.

High-level Deal

Binance is on its way to becoming one of the two largest shareholders in Forbes. This follows a $200 million strategic investment deal reached between the world’s largest crypto exchange and the news tabloid.

According to a report by CNBC on February 10, Binance will replace half of the $400 million committed to Forbes by institutional investors. Besides becoming one of the two biggest owners of Forbes, Binance will get two seats on Forbes’ board of directors.

What is on CZ’s Mind?

Many people would wonder what interest prompted Binance to venture into the media industry. When CNBC posed that question to the CEO, Changpeng Zhao – fondly called CZ Binance, in a recent interview, the Binance boss said:

“Most of the media businesses have had a hard time transitioning from non-web to Web1 to Web2. And we would really like to help them to transition to Web3, using Blockchain cryptocurrencies. So that’s really the main goal for us. . . And that will help adoption. So we want to help them with the crypto side and integrate that into their business,” the Binance Chief asserted. 

For CZ Binance, it’s all about advancing the adoption of blockchain and cryptocurrencies. Binance’s strategic venture into Forbes is the most significant investment in traditional American media by a crypto-business. The global interest in crypto is growing, and the deal might be a catalyst that will propel more real-world influence from the crypto industry.

Source : bsc.news

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