Binance invests $200 million in Forbes just two years after suing it for defamation
Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images Forbes has announced that Binance, “one of the world’s largest cryptocurrency and blockchain infrastructure providers,” is making a $200 million investment to own a part of an “iconic business information brand.” That money is part of a $400 million private investment in public equity (PIPE) arrangement set up for Forbes to go public by merging with a special purpose acquisition company, or SPAC. A defamation lawsuit and one crypto hacker/writer weren’t enough to stop this deal The deal makes for an interesting milestone, showing how Web3 firms have reached their “let’s buy a media outlet” moment, kind of like Time Warner and AOL, or AT&T and Time Warner, or Verizon and AOL, or... you get the point. But this arrangement also brings... Continue reading…
Forbes has announced that Binance, “one of the world’s largest cryptocurrency and blockchain infrastructure providers,” is making a $200 million investment to own a part of an “iconic business information brand.” That money is part of a $400 million private investment in public equity (PIPE) arrangement set up for Forbes to go public by merging with a special purpose acquisition company, or SPAC.
The deal makes for an interesting milestone, showing how Web3 firms have reached their “let’s buy a media outlet” moment, kind of like Time Warner and AOL, or AT&T and Time Warner, or Verizon and AOL, or... you get the point.
But this arrangement also brings...
