Binance invests $200M in Forbes to boost consumer knowledge on Bitcoin

Binance, the world’s largest cryptocurrency speech by trading volumes, is making a strategical concern successful the 104-year aged mag Forbes to amended user knowing of cryptocurrencies and blockchain.

Forbes and Magnum Opus Acquisition Limited, a publicly-traded peculiar intent acquisition institution (SPAC), officially announced Thursday securing a $200 cardinal strategical concern from Binance.

Forbes antecedently announced plans to spell nationalist done a concern operation with Magnum Opus successful August 2021, with the woody expected to adjacent successful Q1 of 2022.

Binance’s strategical concern volition beryllium done Binance’s presumption of subscription agreements representing $200 cardinal of commitments successful the $400 cardinal backstage concern successful nationalist equity (PIPE) that was announced on with Forbes’ volition to spell public.

“With Binance assuming existing PIPE commitments, the wide size of the PIPE volition stay astatine $400 million, and Binance’s concern volition beryllium according to substantially the aforesaid presumption arsenic the existing PIPE investors,” the announcement reads.

According to Forbes CEO Mike Federle, the concern from Binance volition assistance the steadfast get “experience, web and resources of the world’s starring crypto speech and 1 of the world’s astir palmy blockchain innovators.”

Related: Meet the apical 5 busiest crypto funders of 2021, according to PwC

“Forbes is committed to demystifying the complexities and providing adjuvant accusation astir blockchain technologies and each emerging integer assets,” helium noted.

This nonfiction is processing and volition beryllium updated.