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Category Archive : Binance

Crypto exchange Binance is buying a stake in Forbes for $200 million

The world’s largest cryptocurrency exchange, Binance, is planning a strategic investment of 200 million dollars in Forbes, a publishing company and a magazine with a tradition of 104 years, CNBC has learned.

The funds will help Forbes implement the planned listing in the first quarter by merging with a special purpose vehicle for acquisitions, or SPAC, which is listed on the market, sources familiar with the agreement told American television.

Binance, probably the most popular platform for crypto limit orders will take over from institutional investors half of the $400 million in liabilities announced by Forbes in August.

This will make Binance one of the two largest owners of Forbes, and this publishing house will be listed on the New York Stock Exchange under the symbol FRBS, which is added in the text.

The crypto company will also get two seats on Forbes’ nine-member board of directors.

The move points to a growing real-world impact on the crypto sector, which is growing in value and creating a new class of billionaires due to global interest in digital assets.

This is the first major investment by a crypto company in a traditional medium in the United States.

Forbes founded the grandfather of editor-in-chief and two-time presidential candidate Steve Forbes more than a century ago.

In 2014, the publishing house sold a 95 percent stake in Integrated Vale Media, based in Hong Kong, for 475 million dollars.

Forbes is known for its annual ranking of the richest businesspeople in the world.

The third largest cryptocurrency rose 1300% in 2021: Can it threaten Bitcoin?

By comparison, Bitcoin rose 65 percent, while Ether, the second-largest token, rose 408 percent.

This year, the old guard of cryptocurrency has lost its position in relation to tokens with higher yields.

Researchers predict that the trend could continue.

Among the three largest digital tokens, in terms of market value, Binance Coin, or simply BNB, has significantly surpassed its two major rivals – Bitcoin and Ether.

Coin, issued by the crypto exchange Binance Holdings Ltd. – jumped approximately 1,300% in 2021, according to data available to Arcane Research.

By comparison, Bitcoin, the market leader, rose “only” 65 percent, while Ether, the second-largest token, rose 408 percent.

The BNB is widely used on Binance, the world’s largest cryptocurrency exchange.

It is also the home currency of Binance Smart Chain, a blockchain platform that supports smart contracts for use in decentralized finance (DeFi) and other applications.

As the BSC gained supporters over time, it helped increase profits in the BNB token, according to Fortune.

Other alternative coins, or “altcoins”, made big gains in 2021, thanks to an “explosion” of investor interest in digital assets and the expansion of crypto ecosystems.