Binance, the world’s largest cryptocurrency exchange, has made a strategic $200 million investment in news publisher Forbes. The move comes at a time when financial institutions are beginning to accept cryptocurrencies, but there is still a huge gap.
According to Bloomberg, more than one in ten American adults has never heard of cryptocurrencies like Bitcoin, Ethereum, etc. Those who have heard about them are sometimes suspicious of them, either because they claim they don’t understand them or because they believe they are extremely risky and volatile assets.
Binance invests $200 million in Forbes to attract media attention
Binance founder and CEO Changpeng ‘CZ’ Zhao described it as “investing in new and old and connecting them to crypto” in a tweet. Experts believe now is the time for cryptocurrencies to be accepted by the mainstream.
In this regard, the founder of Parallel Finance (a new decentralized lending platform), Yubo Ruan said:
Binance’s participation in Forbes is another shining example of the rapid growth of crypto we’ve witnessed lately. Seeing one of the oldest brands on the blockchain grow into one of the largest owners of a brand like Forbes is an incredible moment for our industry to gain even more mainstream media attention. This is another exciting step towards blockchain adoption, who knows what will happen next.
According to Binance, media is a crucial component in promoting broader understanding and educating consumers about Web 3 and blockchain technology. “We look forward to strengthening Forbes’ digital initiatives as it evolves into a next-level investment insights platform,” Binance founder and chief executive Changpeng “CZ” Zhao said in a statement.
Forbes strives to demystify complexity and provide helpful information about blockchain technologies and all emerging digital assets.
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