Binance is investing $200 million in Forbes

Crypto exchange Binance is investing $200 million in Forbes global media ahead of its black check merger later this quarter. The investment is aimed to capitalise on Forbes going digital transformation through a proprietary Technology stack and analytics among others.  Binance is aiming to capitalise on-going digital transformation through proprietary technology stack and electric analytics, among others. with this investment, Binance will become one of the top 2 biggest investors of Forbes. According to the latest statement,  the amount will replace half of the $400 million private investment in public equity. The publisher of Forbes magazine is also expected to raise approximately $600 million in gross proceeds. The founder and CEO of Binance, Changpeng Zhao has said that as web 3 and blockchain technologies move forward and the cryptography market comes of age we know that media is an essential element to build widespread consumer understanding and education. The combined firms will continue to be led by the current management team and will retain the same name as of now. Forbes will also list on the New York stock exchange under the ticker symbol "FRBS" upon the closing of the transaction. The magazine has said that it would use the investment to convert readers into long-term engaged users of the platform with membership and recurring subscriptions to premium content.