Two powerhouses from opposite sides of the financial spectrum are joining forces to take on the digitized future of currencies together.
In a new announcement, Forbes says that leading crypto exchange Binance will invest $200 million as part of a strategic investment.
Forbes CEO Mike Federle says of the new partnership,
โForbes is committed to demystifying the complexities and providing helpful information about blockchain technologies and all emerging digital assets.
With Binanceโs investment in Forbes, we now have the experience, network and resources of the worldโs leading crypto exchange and one of the worldโs most successful blockchain innovators.
Forbesโฆ can become a true leader in the field with their help.โ
Binance CEO Changpeng Zhao highlights the importance of effective communication as cryptocurrencies expand into the mainstream.
โAs 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 Forbesโ Digital initiatives as they evolve into a next level investment insights platform.โ
The press release specifies that Binanceโs contribution will be included in an existing $400 million private investment in public equity commitment from Forbes and Magnum Opus Acquisition Limited.
Last month it was alleged that Binance had maintained weak know-your-customer compliance standards despite warnings from senior figures within the company.
A Binance spokesperson claimed that Reutersโ information was โwildly outdated and โ in several places โ flatly incorrect,โ but did not provide further details.
Binance Coin (BNB), the exchangeโs native token, is down 1.13% at time of writing and trading for $415.39.
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