Crypto exchange Binance to take $200m stake in Forbes

13 Feb 2022 373 views

Binance, one of the world’s biggest cryptocurrency firms, will take a $200m (£147.6m) stake in Forbes in the latest twist for the 105-year-old media brand.

Forbes, known for its ranking of billionaires, said the deal would help make it a leader supplying information about digital assets, like Bitcoin.

But news of the investment sparked questions among media watchers about potential conflicts of interest.

Binance sued Forbes in 2020 for defamation, later dropping the case. Analysts also noted that crypto assets have proven particularly vulnerable to manipulation by celebrities and media hype, prompting warnings from regulators around the world.

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