Binance, led by Changpeng Zhao, is taking a $200 million stake in Forbes

bbc.reporter

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Quote from: jc12345 on February 12, 2022, 02:13:01 AM

If you analyze coin after coin and token after token it all comes back to the basic flaw of how to get the coin/token adopted by people not in the crypto sphere. This problem will persist until there is a mind shift not to immediately wanting to swap crypto to fiat from a merchant perspective. The way to engineer that mind shift is by influencing a mechanism used in the non-crypto sphere and educating people and in this way expanding the crypto sphere.

In essence Binance has built a new "bridge" - between crypto and non-crypto and the $200m makes him a validator of the messaging in the Forbes non-crypto platform. One could call it a cross-crypto-sphere-bridge.

It might also only be about the revenge of Changpeng Zhao after Forbes wrote the very negative article about Binance and about him hehehe. The date the article was published might also be the day Changpeng Zhao began planning to buy a share of Forbes hehe.

In any case, yes there will be no more fud coming from Forbes if is succesful in buying his share.

Do not attack this man

TastyChillySauce00

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I think he’s trying to buy some media just to boost his marketing and advertisement of his platform, we all know that binance is frequently being used for listing and maybe starting and launching out a new projects because of its reputation and it seems binance has made quite the fortune out of it.
buying some share of media could helps them a lot in terms of marketing and it’s one of the big media there is that he decided invested in, regardless it’s just one of his strategic investment in order to enhance influence of his platform, after all binance right now has a really wide influence among the cryptocurrency traders like us. I guess media influence is vital.

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Quote from: Dave1 on February 10, 2022, 11:19:03 PM

Maybe CZ wanted to change the perception of the public towards crypto and he can used the Forbes to market it for him.

Or he is just expanding his business because he has so much money right now that it is better to really spread out his wealth and not just put everything in one basket.

That's both IMHO. He's able to stabilize the FUD that the other media outlets would bring and for him this is going to be a counter for fact-checking if ever he wants that to happen.
And him being a CEO, he's looking in the long term vision as an entrepreneur to expand his business not just to limit his range to exchange but also into media.

Quote from: Dave1 on February 10, 2022, 11:19:03 PM

So I guess it's a win win move by CZ here.

It is, Forbes is known and established so it's certain.

Flexystar

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Good read. After gaining professional charm in the global market every business has to sustain their strategies in the later times. In short, Binance has made it to the upper side of ladder, now all they have to do is get into media publicity, stay in the news, while we read it and eat our breakfast.

They know very well, Binance is now brand. They just need to keep it garnishing from here onwards. Their assets are optimum to survive in any bumpy ride ahead so they can fine tune their clients.

Hope they keep their quality services upgrading to gain more fame through FORBEs.

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I wonder how the editorial policy of this publication will change after such a deal. But in any case, this deal will be useful not only for Binance, but also for the entire cryptocurrency market, as Forbes will cover cryptocurrency news in a positive way in the future.

cryptoaddictchie

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forbes is old and maybe trusted by lots of people and yes after buy this you can control the media Grin

and gain more people to join binance

i think binance would not stop here

Yes doing this is another form of strategy by Binance. But investment staked like $200m is to show that they are ready to do marketing and forbes will definitely be a bridge on that. For sure he did think about the investment and forbes as we all knew has impact on community. One of the oldest yet famous magazine around the globe.

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Quote from: JangoUnchained on February 11, 2022, 02:35:02 PM

I wish this guy is Elon Musk, imagine how CZ will favour crypto space more if he has Elon Musk power, to me Elon Musk don't know much about crypto like CZ and I doubt we will ever have someone like CZ in crypto space he is one of a kind.

He will soon become powerful like Elon, Zhao His net worth is $100 billion, remember when Bitcoin is crashing at the start of the pandemic this is the same man who commited to pressure the market to get up, all his projects are on top in the industry and by having a stake in Forbes he just become the most influential figure in the Cryptocurrency, I don't see any close competitor to Zhao.

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It is interesting the direction that Binance is taking right now.

CZ is a master strategist, and with the Forbes stake Binance will certainly gain footing in traditional media which is something that pretty much no crypto firm has ever accomplished before.

BNB is one of the overlooked coins. Even though its tech isn't the most mature, it is reliable and runs a extremely good ecosystem.

jc12345

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If you analyze coin after coin and token after token it all comes back to the basic flaw of how to get the coin/token adopted by people not in the crypto sphere. This problem will persist until there is a mind shift not to immediately wanting to swap crypto to fiat from a merchant perspective. The way to engineer that mind shift is by influencing a mechanism used in the non-crypto sphere and educating people and in this way expanding the crypto sphere.

In essence Binance has built a new "bridge" - between crypto and non-crypto and the $200m makes him a validator of the messaging in the Forbes non-crypto platform. One could call it a cross-crypto-sphere-bridge.

bbc.reporter

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@coin-investor. I disagree. This appears to be a if they attack you, buy them strategy hehehe. There was an article published by Forbes that clearly was trying to create a very negative image for Binance and make the exchange look worse than reality. It appears that CZ did not forget this hehe.

Do not attack this man

coin-investor

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This is like if you can't beat them join them strategy, Forbes is a big and reputable media company I read a lot of good articles on Forbes, this is part of the plan to have a good PR in the Crypto community I'm sure we'll see a lot of articles about how good Binance is and their long term plan, by having a stake on Forbes he will gain old subscribers and will gain big media mileage beating down or shutting the competition.

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Well I think is a start for binance to capture probably magazine readers before the big game but am sure one way or the other sport t-shirts will soon be carrying Binance logo almost everywhere especially football Tezoz already got man-u I think binance is taking its time to do it

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Quote from: rhomelmabini on February 11, 2022, 05:03:42 PM

It's a step by step process for them to be known in the industry and I think CZ is a real genius when it comes to marketing, this will get them big time. There's a lot competition in the market and having media as a main thing then it will be different, we are run by stories everyday and these news aren't just to be taken lightly.

He use to be unorthodox I guess when it comes to marketing, who knows a crypto exchange would take part on mainstream media?

By seeing on the current things happening and on the things that he had been doing that he's already heading there.Getting much attention but of course it does have corresponding movements which is significant

and its no surprise that Binance is really doing something which past platforms or businesses in the past hadnt able to acquire or able to be done.I do agree into that point that he does know on what he's doing

and its a bit aggressive but its actually working and wont be surprised that this one will really progress even more further.

rhomelmabini

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Quote from: rhomelmabini on February 11, 2022, 05:03:42 PM

It's a step by step process for them to be known in the industry and I think CZ is a real genius when it comes to marketing, this will get them big time. There's a lot competition in the market and having media as a main thing then it will be different, we are run by stories everyday and these news aren't just to be taken lightly.

He use to be unorthodox I guess when it comes to marketing, who knows a crypto exchange would take part on mainstream media?

Yeah in terms of marketing strategies he is really a genius one. I often read his planning in his announcements and I find that the brilliant and according to the minds of people what he plan for his project. He reads what people want and provide that all in his project.

This time his investment in Forbes is also not a small step it will make a big role in promoting the crypto related knowledge all around the world which will make crypt the mainstream.

He's likely on the customer's side and that is why his exchange was still flourishing up to this day. It's been four years but it still remain strong even though we can see some critiques that it wasn't but it's part of the business, you can take this as a criticism to do more than normal.

Binance already got Binance Academy and I think that was a success, with his move to Forbes I think it's a different one but likely you have a point there. The thing with Forbes is that if you have no account there then expect you won't read any. Not new but perhaps there could be change on how mainstream media sites likes of Forbes to be free without those subscription processes.

rhomelmabini

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It's a step by step process for them to be known in the industry and I think CZ is a real genius when it comes to marketing, this will get them big time. There's a lot competition in the market and having media as a main thing then it will be different, we are run by stories everyday and these news aren't just to be taken lightly.

He use to be unorthodox I guess when it comes to marketing, who knows a crypto exchange would take part on mainstream media?

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Media is an important aspect of every business strategy. Media would help you to get good exposure to the general public. It's all about propaganda war and whose propaganda is more believable.
I do love binance and use it regularly but it is becoming what the crypto is fighting against. But in the process of binance making people use and love it, they'll too introduce people to the huge universe of crypto and what lies behind binance.

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Quote from: bbc.reporter on February 10, 2022, 08:42:52 PM

Mainstream news media company publishes a negative article on Binance. Owner of Binance buys news media company hehehe.

I reckon Binance is taking a different marketing strategy from FTX in expanding their business to a more mainstream market. We have already witnessed FTX, crypto.com and some projects in the cryptospace partner themselves with sports teams and sports businesses to connect to a mainstream audience. It appears the crypto takeover might only be beginning.

Binance, the world’s biggest cryptocurrency exchange, is making a $200 million strategic investment in Forbes, the 104-year-old magazine and digital publisher, CNBC has learned.

The funds will help Forbes execute on its plan to merge with a publicly traded special purpose acquisition company, or SPAC, in the first quarter, according to people with knowledge of the deal.

Read in full https://www.cnbc.com/2022/02/10/forbes-spac-binance-led-by-the-worlds-richest-crypto-billionaire-is-taking-a-200-million-stake-in-forbes-.html

This is big news, Not only because a crypto exchange has made such a huge investment but also because the investment is in such an old and prestigious media house. Forbes is undoubtedly a very reputed source of information for a lot of people so if Binance makes an investment into Forbes there are big chances that this is not only to increase the public reputation of Binance but also to improve the reputation of the crypto sector as a whole. Maybe this could act as a platform now where Binance could voice his projects and ideas to the people. Also, this indicates that crypto companies that once only were considered sector-specific are now assimilating with other sectors very well.

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This is interesting news, I see this guy is strengthening his position.As they correctly said in this topic, who would have thought that after 5 years an ordinary exchange owner would become such a figure.This is a really good result.

JangoUnchained

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I wish this guy is Elon Musk, imagine how CZ will favour crypto space more if he has Elon Musk power, to me Elon Musk don't know much about crypto like CZ and I doubt we will ever have someone like CZ in crypto space he is one of a kind.

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Cz has already established a strong position in the crypto market. Many people dislike this man for various reasons but he is working towards strengthening his position. It is acceptable to buy media but if he later tries to take advantage of the market by using this media then it will create a dirty environment.

Quote from: JooBra on February 11, 2022, 02:20:34 PM

Binance is the best and this is only a one step on the road to become even more popular and well known.

Binance best is fine but binance is on the way to becoming something bigger which requires a lot of competition. As a marketing strategy, each company has a different strategy. So this is also a strategy that can be used to do a lot.

Topic: Binance, led by Changpeng Zhao, is taking a $200 million stake in Forbes (Read 224 times)