Banking and Finance
Binance invests $200m in Forbes
Crypto and blockchain giant Binance has made a $200 million investment in Forbes, the business media brand it sued for defamation in 2020.
However, amid concerns about conflict of interests at the publication, he later took to Twitter to insist that “Forbes editorial independence is and will always be sacrosanct”.
Read also: Ghana records high investment inflows in Q1 despite Covid
The multi-billionaire added that the investment is to “help them build Web3 infrastructure in the coming years”.
Last year, Binance dropped a lawsuit against Forbes and two of its journalists over a story about the crypto firm’s corporate structure.
In September, having faced regulatory scrutiny in a host of countries, Binance vowed to centralise its business structure to address concerns about a lack of systemic transparency.
Zhao tweeted yesterday: “Like many fast-growing, innovative companies, Binance is used to media scrutiny. That’s a necessary reality when you are the leader of a disruptive industry.”
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