Binance, led by Changpeng Zhao, is taking a $200 million stake in Forbes - page 2.

JooBra

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Quote from: avikz on February 11, 2022, 01:04:24 PM

I would say it's a very important investment for CZ. Forbes is one of the oldest financial magazine and its reader base is spread all over the world. So it will help CZ to strategically place Binance as the best crypto exchange.

The adoption of cryptocurrency is very low, so CZ wants to capture more and more market share in crypto space. This investment is another step towards that big goal. Way to go CZ!

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

avikz

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I would say it's a very important investment for CZ. Forbes is one of the oldest financial magazine and its reader base is spread all over the world. So it will help CZ to strategically place Binance as the best crypto exchange.

The adoption of cryptocurrency is very low, so CZ wants to capture more and more market share in crypto space. This investment is another step towards that big goal. Way to go CZ!

gantez

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Quote from: JayTrain on February 11, 2022, 08:56:45 AM

Now the cover of the magazine will be full of the title of the binance exchange on a permanent basis) this is good news for the stock exchange, apparently this is how institutional investors want to enter the market, because this magazine is most often read by quite rich and influential people.

I believe is a creative step to put binance to keep staying on the top level exchange. Forbes is trusted and binance being centralised exchange will help to give more solid confidence for investors. When Forbes publish news about binance this can encourage more traffic to binance exchange. Is good way to think by the CEO.

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That would make Binance one of the top two biggest owners of Forbes, which will be listed on the New York Stock Exchange under the ticker FRBS, the people said. The crypto company will also get two directors out of nine total board seats, they said.

Went on the link to read full story. This step won't benefit only the magazine but binance being part of the board

jrrsparkles

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I don't think they yet to implement this strategy because Binance grown very big in small time frame which is actually not possible without help of mainstream media so this isn't really new for them but probably they are buying Forbes now as the next upgrade in their strategic investment and literally it will be more effective than sponsoring a sports team or anything similar.

Jating

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Quote from: khiholangkang on February 11, 2022, 08:37:51 AM

Quote from: bbc.reporter on February 10, 2022, 07:42:52 PM

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

Why negative ? I don't think this is a negative thing

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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 has also partnered with several sports teams, and sponsored african football, if now he invests in media platforms I think they just want to spread their wings to all fields.

I think mainstream media has been criticizing CZ for whatever reason. And I would add that it is not just Binance but even before the emergence of Binance and CZ in the market, mainstream media is very negative about bitcoin and crypto in general.

Maybe this is CZ's crusade, So he start with the oldest publication in the world and work his way up maybe other social media stream in the future.

JayTrain

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Now the cover of the magazine will be full of the title of the binance exchange on a permanent basis) this is good news for the stock exchange, apparently this is how institutional investors want to enter the market, because this magazine is most often read by quite rich and influential people.

khiholangkang

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Quote from: bbc.reporter on February 10, 2022, 07:42:52 PM

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

Why negative ? I don't think this is a negative thing

Quote

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 has also partnered with several sports teams, and sponsored african football, if now he invests in media platforms I think they just want to spread their wings to all fields.

masterrex

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I believe CZ is a smart guy and very passionate about all of he is doing that's why I think that acquisition serves the best interest of Binance and to other parties and there's nothing wrong about it and those previous Forbes negative articles that pointed out Binance and to him are just part of the journalism so it's not an issue with the Binance CEO, Anyway I think the more interesting question is what will happen next?

tbct_mt2

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Quote from: QueenVera on February 11, 2022, 05:28:33 AM

CZ knows how to take good opportunity and turn them to something profitable. Back in 2017 when Poloniex and Bittrex were the top exchanges I read they refused to list new projects and got customers worried then CZ came with Binance with focus on just altcoins. Today they are the biggest exchange and have acquired many other companies like Coinmarketcap.
I think CZ has something he is building that will bring more adoption to Bitcoin. With time we will understand why he is making all this move. If they can help bring in more authenticity to the industry and bring more adoption then it is okay. At last decentralized will win so any centralized plans they are building is not my concern.

Like CZ or don't like this guy. People have to admit the fact that CZ is very smart, ambitious, energetic and adaptive to trend. He made Binance in chaotic time in 2017 when Poloniex and Bittrex have troubles with scaling up for their infrastructures and with KYC. Binance stepped in and took over the leading position. Since that year, Binance has been only leader in crypto market. Many ideas, products from them change the crypto market and are models for other exchanges to follow.

However, things become more challenging for Binance. Nowadays, many exchanges try to fight against Binance and if you want to list your tokens on their exchanges, they say no if your token is simply based on Binance Smart Chain

QueenVera

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Quote from: pakhitheboss on February 11, 2022, 12:16:28 AM

This guy has a great business mind. Back in 2017 he started with a cryptocurrency exchange and 2022 he is buying a stake in a 100 year old media outlet. In just 5 years he has grown to be one of the top influencer and businessman in the world. This is surely another great move by him.

CZ knows how to take good opportunity and turn them to something profitable. Back in 2017 when Poloniex and Bittrex were the top exchanges I read they refused to list new projects and got customers worried then CZ came with Binance with focus on just altcoins. Today they are the biggest exchange and have acquired many other companies like Coinmarketcap.
I think CZ has something he is building that will bring more adoption to Bitcoin. With time we will understand why he is making all this move. If they can help bring in more authenticity to the industry and bring more adoption then it is okay. At last decentralized will win so any centralized plans they are building is not my concern.

Coin_trader

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Quote from: pakhitheboss on February 11, 2022, 12:16:28 AM

This guy has a great business mind. Back in 2017 he started with a cryptocurrency exchange and 2022 he is buying a stake in a 100 year old media outlet. In just 5 years he has grown to be one of the top influencer and businessman in the world. This is surely another great move by him.

The implication of his move was his intention. Many people assume that he will just use mainstream media to shill more rather than focus on legality of Binance which is the main concern why FTX part ways with them. CZ is always resisting to become regulated which keeps leave them no permanent business headquarters.

I'm sure that his intention is to have advantage for Binance exposure but considering how dodgy he is against regulators, People will always gonna question his integrity.

michellee

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I am sure he wants to expand his business and not just exchange. If he really buys the news media, I am worried if he will use his media to blow up something that, of course, will benefit him as a businessman. But hopefully, he will not do that.

A smart business will search for other potential businesses that can make him get more money and try different things than his main business. He wants to be famous among the other businessman. So it is normal if he buys something that he thinks can give him more money.

pakhitheboss

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This guy has a great business mind. Back in 2017 he started with a cryptocurrency exchange and 2022 he is buying a stake in a 100 year old media outlet. In just 5 years he has grown to be one of the top influencer and businessman in the world. This is surely another great move by him.

Kemarit

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Yes, great business move from CZ, expanding his business to mainstream media. So at least he can balance the negativity now and I will say that he will continue to do things his way and probably investing on companies that is producing cards and stuff that is related to crypto mining.

And in just a matter of 5 years or less, CZ become one of the richest person in crypto market, with his Binance at the top and then acquiring coinmarketcap too.

Strongkored

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Smart businessmen know how to expand and make their initial business look more brilliant with news and the best way is to invest in long-established media so that any news that later appears about Binance will greatly affect the existence of this exchange.

Dave1

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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

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

bbc.reporter

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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

Topic: Binance, led by Changpeng Zhao, is taking a $200 million stake in Forbes - page 2. (Read 264 times)