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February 11, 2022 by No Comments

Forbes was founded in 1917. Binance was founded in 2017 by Changpeng Zhao, known to his 5 million Twitter followers as C.Z., who landed on the cover of Forbes magazine within a year of starting the company. (Last year, Binance dropped a defamation lawsuit it had filed against Forbes over an article about the exchange’s structure.)

Zhao spoke to DealBook about the investment in Forbes. The interview has been edited and condensed.

How did this begin?

We have a separate M.&A. team and I don’t really get very involved there because looking at deals takes a lot of time. So they go and find deals everywhere, and then one day — maybe two or three months ago — one of the guys says, “Hey, you know, do we want to invest in a media company?”

Why do it?

We don’t want to run a news company. But the angle was, “How do we help traditional businesses come into crypto faster so we can speed up the adoption of crypto?” By investing in traditional businesses and helping them to integrate with crypto, it’s an interesting play for us.

How so?




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