World's largest Bitcoin exchange invests $200 million into Forbes

The world's largest cryptocurrency exchange by trading volume has announced it has invested a huge $200 million into Forbes.

@JakConnorTT
Published Fri, Feb 11 2022 2:03 AM CST   |   Updated Wed, Mar 9 2022 3:03 AM CST

The world's largest cryptocurrency exchange when it comes to trading volume has made a very large investment into media.

According to a report from CNBC, Binance, the world's largest cryptocurrency exchange, has invested $200 million dollars into becoming one of the two biggest owners of Forbes. The strategic investment has gained Binance two new directors out of nine total board seats, and according to Forbes CEO Mike Ferdele, "With Binance's investment in Forbes, we now have the experience, network, and resources of the world's leading crypto exchange and one of the world's most successful blockchain innovators."

The move is just one of many cryptocurrency exchanges such as Binance are making towards bringing more awareness to the cryptocurrency space. Crypto.com is a better example of spending large quantities of money on marketing to raise awareness as the crypto exchange has already spent millions on sports sponsorship's, acquisitions, and even re-branding the Staples center to the Crypto.com center.

"As 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," said Binance CEO Changpeng 'CZ' Zhao.

For more information on this story, check out this link here.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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