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.

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Quote from: ?? on ??

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.

timerland

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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.

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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?

tsaroz

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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.

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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.

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Quote from: avikz on February 11, 2022, 02:04:24 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.

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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!

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Quote from: JayTrain on February 11, 2022, 09:56:45 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.

Quote

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

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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.

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Quote from: khiholangkang on February 11, 2022, 09:37:51 AM

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.

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.

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.

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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, 08:42:52 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?

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Quote from: QueenVera on February 11, 2022, 06:28:33 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

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Quote from: pakhitheboss on February 11, 2022, 01:16:28 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.

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Quote from: pakhitheboss on February 11, 2022, 01:16:28 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.

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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.

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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.

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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.

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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.

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Quote from: ?? on ??

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 (Read 249 times)