Crypto exchange Binance to make $200m investment in US media firm Forbes

FILE PHOTO: The logo of Binance is seen on their exhibition stand at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta October 4, 2018. REUTERS/Darrin Zammit Lupi

Major cryptocurrency exchange Binance will make a $200 million investment in Forbes, the media company said on Thursday, as it prepares to go public via a special purpose acquisition company (SPAC).

The investment by Binance, the world’s biggest cryptocurrency exchange by trading volumes, will replace half of the $400 million in private placement commitments already announced by Forbes and SPAC company Magnum Opus Acquisition Limited.

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