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The world’s largest cryptocurrency exchange, Binance, has taken a big interest in Forbes. In an announcement, it was revealed that the leading exchange will invest $200 million as part of a strategic investment.
Forbes CEO Mike Federle commented:
“Forbes is committed to demystifying the complexities and providing helpful information about blockchain technologies and all emerging digital assets.
With Binance’s investment in Forbes, we now have the experience, network and resources of the world’s leading crypto exchange and one of the world’s most successful blockchain innovators.
Forbes can become a true leader in the field with their help.”
Binance CEO Changpeng “CZ” Zhao said:
“As Web 3 and blockchain technologies move forward and the crypto market comes of age, we know that media is an essential element to build widespread consumer understanding and education.
We look forward to bolstering Forbes’ Digital initiatives as they evolve into a next level investment insights platform.”
Binance’s investment will be included in an existing $400 million private investment in public equity commitment from Forbes and Magnum Opus Acquisition Limited.
As part of the deal, Binance’s chief communications officer Patrick Hillmann and head of Binance Labs Bill Chin will join the Forbes board of directors.
Binance is also the owner of the most popular crypto website, CoinMarketCap.
Following the news, Chanpeng “CZ” Zhao took to Twitter to stress that Forbes editorial independence will not be altered with.