Binance CEO "looks closely" at Forbes

Binance may acquire a stake in American media group Forbes. This was announced by Changpeng Zhao, CEO of the crypto exchange, during a speech at the Web Summit, writes ain.ua.

According to the Financial Times, Forbes is currently seeking $400 million in additional capital as part of its plans to go public on the New York Stock Exchange.

Earlier, there were rumors in the media that Binance plans to buy a stake in the American media group Forbes for $200 million.

During a speech at the Web Summit, Changpeng Zhao said that his company is now "looking at Forbes," but added that "no big news should be expected in the near future." With these words, he confirmed the rumors about the possible financing of Forbes.

Zhao mentioned Forbes after being asked by a moderator why he is willing to invest in Elon Musk's purchase of Twitter, but does not support the media, which is a place of distribution, including verified information.

Binance, the world's largest cryptocurrency exchange, announced on October 28 that it will invest $500 million as part of Elon Musk's deal to buy the social network Twitter. Changpeng Zhao explained his decision by the fact that he supports freedom of speech. Now his company plans to invest in one of the largest business media.

In the past, Binance had issues with publishing. The company even sued Forbes for defamation in 2020 over an investigation by the magazine that alleged the crypto exchange used its complex corporate structure to deliberately evade US regulation. The exchange later dropped the lawsuit.

This deal, which is likely to happen in the future, is a major entry for the crypto firm into the mainstream media. Another company in the cryptocurrency market called Digital Currency Group also owns CoinDesk, a well-known publication specializing in cryptocurrencies. This means that crypto companies want to have more influence and plan to use the media as a tool.

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