Binance has invested $200 million in Forbes and will become a co-owner of the company

The deal is part of Forbes' plan to go public in the first quarter of 2022.

The world's largest in terms of volumetrading cryptocurrency exchange Binance invested$200 million to media company Forbes, the publication reported. The deal is part of a plan by Forbes and SPAC company Magnum Opus to list Forbes in the first quarter of 2022. Representatives of the crypto-exchange confirmed the fact of the transaction to RBC-Crypto.

Forbes plans to go public through a merger with a SPAC company became known in April 2021. In August 2021, Forbes officially confirmed plans to go public.

Relationship between a media company and a crypto exchangedid not always turn out rosy. In November 2020, Binance in New Jersey filed a lawsuit against Forbes Media and two of its journalists, Michael del Castillo and Jason Brett. The marketplace claims that they published a slanderous article, and expects to recover compensation from them.

The article was published in October 2020.In it, Forbes actually accused Binance of creating a complex structure to evade regulatory requirements and stealthily profit from US investors. The head of the crypto-exchange, Changpeng Zhao, described all the statements and accusations as untrue “stuffing”. In early 2021, the exchange withdrew its lawsuit against Forbes.

On February 8, Binance announced the joint developmentdirection of the metaverses with one of South Korea's leading entertainment agencies, YG Entertainment. As part of a strategic partnership, the companies plan to work together on the issuance of NFT tokens. Binance will provide the infrastructure to create them, while YG will create content and gaming assets.

Last week Binance CEOChangpeng Zhao warned users of the cryptocurrency exchange about a new method of fraud. According to Zhao, the number of phishing SMS-mailings to the clients of the trading platform, which inform about the application for withdrawal of funds from the exchange, has recently increased.

</p></p>