Got publicity? Binance exchange is now literally buying Forbes’s integrity with a $200 million deal. After all, it is quite necessary for a giant like Binance Exchange to maintain good publicity. And the obvious answer to that is to pay a few hundred million achieved from questionable ICOs to buy into a troubled media company. Officially called as a “strategic investment”, it is more of an ambitious business venture for both parties. So, if you’re a fan of ranking articles on Forbes, expect a lot of rankings with Binance exchange on top!
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Top 10 Nice Things about Binance Exchange
In a recent announcement, Forbes stated that Binance exchange will be investing $200 million into the media company. According to both sides, the investment aims to provide more accurate and professional information about blockchain technology. In simple terms, Forbes will take advantage of Binance’s expertise while Binance kindly attempts to educate the masses about blockchain, Web3 and cryptocurrencies.
Both Forbes and Binance spoke about this announcement. Forbes CEO Mike Federle spoke on the latest announcement,
“Forbes is committed to demystifying the complexities and providing helpful information about blockchain technologies and all emerging digital assets.
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.
Forbes… can become a true leader in the field with their help.”
Here is a fun fact about Forbes, Heather Morgan who is recently charged with stealing $4.5 billion in Bitcoin from Bitfinex is a Forbes contributor. Ironically, she has a piece about cyber security for online exchanges giving them lots of helpful tips.
Expect More
In the grand scheme of things, every giant entity will seek to sink their claws into the media sector. In that regard, there will be two predominant approaches to control one’s publicity. First, you can start your own media company or news platform which takes time and resources. Or, you can simply do what Binance exchange did and pay a media giant to buy into their good will.
At this point, crypto giants are racing for domination and it was only a matter of time for such investment to happen. Binance has been dealing with negative publicity and a high number of active lawsuits all around the word. This is an attempt to control at least some of the narrative. Subsequently, investments of this nature will most definitely take place when other large exchange apps such as Coinbase, Kraken and Crypto.com will have no choice but to follow.
On the other hand, the crypto market at this point is basically “buy the rumor, sell the news”. Binance paying Forbes $200 million to kindly educate them about NFTs and metaverse is a testament to their attempt in order to control the market further than before. considering the circumstances, the media sector is the next target for Crypto giants.
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