Binance Invests $200 Million in Forbes in Effort to Educate Consumers on Crypto Markets

Binance, the largest cryptocurrency exchange in the world, has decided to begin cleaning up its image and raise positive awareness about emerging blockchain technologies.

In order to do that, Binance will be making a $200 million strategic investment in US-based business media platform Forbes, as the exchange looks to “build widespread consumer understanding and education,” surrounding digital asset technologies and the broader crypto market. Binance founder Changpeng ‘CZ’ Zhao also told CNBC on Thursday that his company is looking to invest funds in other traditional companies as well, in an effort to progress the acceptance of blockchain.

Forbes welcomed the investment, saying the funds will help the media company become a leading supplier of information on virtual currencies such as bitcoin. Sources told CNBC that the money will help advance Forbes’ plan to eventually merge with a special purpose acquisition company. Binance will oust half of the $400 million in earmarked investments from institutional investors previously announced by Forbes, making the cryptocurrency exchange one of the two largest owners of the business media giant.

However, Binance’s investment is likely to raise concerns surrounding conflicts of interest, given that it could shift areas of business news coverage. Back in 2020, Forbes was sued by Binance for defamation, after the magazine published a piece regarding the exchange’s corporate structure. Binance later ended up dropping the case.


Information for this briefing was found via CNBC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Copper Juniors Could Explode After This Trade War Move | Christian Easterday – Hot Chili

Silver Is Rarer Than Gold, And the Market’s Waking Up | Shawn Khunkhun – Dolly Varden Silver

Gold Will Hit North of $4,000: Who’s Actually Producing? | Shane Williams – West Red Lake

Recommended

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Related News

Binance Reportedly Violated US Regulations By Mixing Customer Funds And Company Revenue

Binance, the world’s largest cryptocurrency exchange, mixed user funds with business revenue in 2020 and...

Tuesday, May 23, 2023, 09:41:07 AM

DOJ Tells Binance: Pay $4 Billion To End Legal Troubles

The United States Justice Department is currently engaged in negotiations with Binance to bring an...

Tuesday, November 21, 2023, 10:57:00 AM

Is Binance Really Making A “Full Exit” From Russia?

Binance has officially entered into a strategic agreement to divest its entire operation in Russia,...

Thursday, September 28, 2023, 12:17:59 PM

Binance Tightens Controls After Involvement with Sanctioned Russian Banks Revealed

Binance has ceased facilitating payments through sanctioned Russian banks after a Wall Street Journal exposé...

Monday, August 28, 2023, 03:40:00 PM

Crypto Card: Mastercard, Visa Are Working On Making Cryptocurrency Payments Happen

You may be able to literally pay for your everyday purchases with bitcoin soon. Mastercard...

Tuesday, August 30, 2022, 04:33:00 PM