Back to the list

Binance to Invest $200M in Forbes: Report

source-logo  coindesk.com  + 18 more 10 February 2022 13:56, UTC

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.


Similar news (18)
Add similar news