Cryptocurrency exchange Binance has pumped $200 million into Forbes, one of the most prominent media and publishing companies, CNBC reports.
The price of the native BNB token has spiked roughly 3% on the news.
Binance filed a defamation lawsuit against Forbes in November 2020 over a story that details how the cryptocurrency giant attempted to skirt regulatory oversight in the U.S. with the so-called "Tai Chi entity." It then voluntarily dropped the case last February.
Alex DovbnyaAfter remaining in control for 97 years, the Forbes family sold a 95% stake in the company to a group of Hong Kong-based investors.
Steve Forbes remains the editor-in-chief of Forbes. As reported by U.Today, he predicted that Bitcoin could become the new gold back in 2020.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Godfrey Benjamin
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin