Binance to Invest $200 Million in News Publisher Forbes

The Binance cryptocurrency trading app on a smartphone in an arranged picture in London on June 28.. Photo: Bloomberg

(Bloomberg) — Binance Holdings Ltd., parent of the world’s largest cryptocurrency exchange, is making a strategic investment of $200 million into the more than 100 year-old news publisher Forbes.

Patrick Hillmann, Binance’s chief communications officer, and Bill Chin, head of Binance Labs, its venture capital arm, will join the Forbes board when the transaction closes.

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