coindesk.com
Cryptocurrency exchange Binance is making a $200 million strategic investment in digital publisher Forbes, CNBC reported on Thursday.
-
Forbes will use the funds to plan its merger with a special purpose acquisition company (SPAC), expected in the first quarter, the report said, citing people with knowledge of the deal.
-
Binance will replace half of the $400 million commitments from institutional investors, which was announced in August, effectively making it one of two biggest owners of the publication, the report added.
-
The crypto exchange, which is led by CEO Changpeng Zhao, will also get two directors out of nine total board seats, the report said.