{"id":219418,"date":"2022-02-10T16:10:18","date_gmt":"2022-02-10T16:10:18","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=219418"},"modified":"2022-02-10T15:35:52","modified_gmt":"2022-02-10T15:35:52","slug":"binance-ventures-into-mainstream-media-with-a-200-million-stake-in-forbes","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-ventures-into-mainstream-media-with-a-200-million-stake-in-forbes\/","title":{"rendered":"Binance ventures into mainstream media with a $200 million stake in Forbes"},"content":{"rendered":"

Forbes magazine recently <\/span>announced<\/span><\/a> a $200 million strategic investment from <\/span>Binance<\/span><\/a>, the world's leading cryptocurrency exchange.\u00a0<\/span><\/p>\n

The investment will help the 104-year old magazine and digital publisher to go public\u2013merging with a publicly-traded special purpose acquisition company, or SPAC.<\/span><\/p>\n

Two Brinance directors at the nine-seat board table<\/strong><\/h2>\n

Binance\u2019s stake in Forbes only confirms the obvious\u2013crypto\u2019s push into the mainstream is at full throttle.<\/span><\/p>\n

Forbes recently disclosed plans to go public through a business combination with Magnum Opus, a special purpose acquisition company.<\/span><\/p>\n

With Binance\u2019s $200 million stake representing a half of $400 million in commitments from institutional investors that were previously <\/span>announced<\/span><\/a> by Forbes, the crypto giant secured its two seats at the Forbes Board of Directors table of nine.<\/span><\/p>\n

According to the announcement, Patrick Hillmann, Chief Communications Officer for Binance and Bill Chin, Head of Binance Labs, the Venture Capital Arm and Incubator of Binance, will join the board upon the successful closing of the business combination transaction, expected this quarter.<\/span><\/p>\n

\u201cForbes is committed to demystifying the complexities and providing helpful information about blockchain technologies and all emerging digital assets,\u201d said Forbes CEO Mike Federle.<\/span><\/p>\n

\u201cWith Binance\u2019s investment in Forbes, we now have the experience, network and resources of the world\u2019s leading crypto exchange and one of the world\u2019s most successful blockchain innovators. Forbes, already a resource for people interested in the emerging world of digital assets, can become a true leader in the field with their help,\u201d added Federle.<\/span><\/p>\n

One of the top two biggest owners of Forbes after its listing<\/strong><\/h2>\n

\u201cInvest in both new and old, and bridge them with crypto\u201d\u2013Binance Founder and CEO\u00a0 Changpeng \u2018CZ\u2019 Zhao, <\/span>summed <\/span><\/a>up his strategy in a short tweet.\u00a0<\/span><\/p>\n

The Forbes brand, best known for its flagship magazine, reaches over 150 million people worldwide.<\/span><\/p>\n

\u201cAs 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 Forbes\u2019 Digital initiatives, as they evolve into a next-level investment insights platform,\u201d according to CZ.<\/span><\/p><\/blockquote>\n

This time last year, Binance <\/span>dropped<\/span><\/a> a lawsuit against Forbes.\u00a0<\/span><\/p>\n

In 2020, CZ\u2019s company <\/span>sued<\/span><\/a> the publisher and two journalists over false and defamatory statements published in a story bearing the headline: \u201cLeaked \u2018Tai Chi\u2019 Document Reveals Binance\u2019s Elaborate Scheme To Evade Bitcoin Regulators.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Forbes magazine recently announced a $200 million strategic investment from Binance, the world’s leading cryptocurrency exchange.\u00a0 The investment will help the 104-year old magazine and digital publisher to go public\u2013merging with a publicly-traded special purpose acquisition company, or SPAC. Two Brinance directors at the nine-seat board table Binance\u2019s stake in Forbes only confirms the obvious\u2013crypto\u2019s […]<\/p>\n","protected":false},"author":699,"featured_media":219426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,39],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nBinance ventures into mainstream media with a $200 million stake in Forbes<\/title>\n<meta name=\"description\" content=\"Forbes magazine recently announced a $200 million strategic investment from Binance, the world's leading cryptocurrency exchange.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binance-ventures-into-mainstream-media-with-a-200-million-stake-in-forbes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance ventures into mainstream media with a $200 million stake in Forbes\" \/>\n<meta property=\"og:description\" content=\"Forbes magazine recently announced a $200 million strategic investment from Binance, the world's leading cryptocurrency exchange.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/binance-ventures-into-mainstream-media-with-a-200-million-stake-in-forbes\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-10T16:10:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-10T15:35:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/binance-forbes.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"619\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ana Grabundzija\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Grabundzija\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/binance-ventures-into-mainstream-media-with-a-200-million-stake-in-forbes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/binance-ventures-into-mainstream-media-with-a-200-million-stake-in-forbes\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#person\",\"name\":\"Ana Grabundzija\",\"url\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"caption\":\"Ana Grabundzija\"},\"jobTitle\":\"Journalist\",\"description\":\"Dr. Ana Grabundzija is a Zagreb-bred writer with an academic background in anthropology. 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