Binance invests $200 million to buy stake in Forbes

[SensitiveEyes]

This was the most plausible scenario I concluded after mulling over it. In business there are rare moments where being opportunistic is exponentially beneficial than would otherwise be the case because the party seeking investment is in a weakened state. It is during the negotiation stage their desperation for a cash injection is laid bare in sequentially rendering them unable to strike a constructive deal best suited to their business model. In those cases deals heavily favour the investor not the invested. This deal benefits Binance on several levels more than Forbes.

On the surface it is another business transaction but the deal between Binance and Forbes is deeper. There is much more for Binance to gain from the deal irrespective of the cash injection which will help Forbes and the SPAC merge. As a result of the deal Binance will increase its reach to communicate directly to audiences from a strategically placed vantage point perched on a prestigious and respected brand that Forbes provides. The importance of this strategic manoeuvre by Binance can't be underestimated.

CEO Changpeng Zhao made it known Forbes would retain editorial independence, that seriously undermines your assessment of the rationale behind the deal. If Binance will not use Forbes to mask negative press why did it invest $200 million? Those stating Binance invested in Forbes to hide negative press underplays the strategy Binance has planned.

Forbes were looking for $400 million in cash injection to help their deal with Magnum Opus Acquisition commence. Forbes intend to go public in a share sale after the merger which will give them an initial value of $630 million. The deal makes Binance second highest investor in Forbes.

They're just buying a piece of their enemy's company to make an influence in some decision-making. That $200 million is certainly worth it if the goal is to mask negative press, or to make Binance look good in the eyes of common people and lots of investors. They can even up the number if Forbes prove to be beneficial to what they want to achieve, that's for sure.

[Darker45]

Binance will be able to correct misinformation about crypto

That comment I quoted lends credence to what I read online last year or so that CZ is actually Satoshi Nakamoto. Why would CZ bother about the general backlash and negative energy on cryptos if he doesn't have an interest to protect beyond owning and running an exchange to warrant him speeding such a huge amount to run a publicity stunt for cryptos. He isn't the only one who doesn't like the negative comments on crypyos neither is he the only one who owns an exchange.

I cannot see any difference between the claim CZ is Satoshi Nakamoto and CSW is Satoshi Nakamoto.

CZ will never be Satoshi Nakamoto. Satoshi is selfless. I cannot speak of the same quality on CZ. CZ is even more of a businessman than a Bitcoin advocate. He is full of himself. Satoshi cannot be into hype, altcoins, centralized platforms, compulsory KYC, calls for crypto regulation, and so on. CZ as Satoshi is simply beyond imagination.

CEO Changpeng Zhao made it known Forbes would retain editorial independence...

Of course. Would you be expecting CZ to announce like, "from now on, you guys will only speak praises of Bitcoin, crypto, and Binance?" Man, we're not born yesterday. Words have always been cheap.

[Rikafip]

That comment I quoted lends credence to what I read online last year or so that CZ is actually Satoshi Nakamoto.

Haha really, some people actually claim that? Chances that CZ is Satoshi is even lower than of the Faketoshi being behind all this. I mean, you have to be completely clueless about Bitcoin and CZ to claim something like that.

I can only imagine what Bitcoin would look like is someone as CZ is behind it all. As a matter f fact, we don't even have to imagine, it's enough to see how centralized BSC is, and then to compare that with Bitcoin.

Probably an unpopular opinion but I'm fine with this. So much hateful opposition propaganda against Bitcoin/crypto on typical "news" sites that at the very least this should bring a little bit of balance. Fighting fire with fire.

I see this something like a "useful idiot situation". He is surely doing this to improve Binance's position but by doing that it might help crypto market too. But I still don't like how powerful Binance is becoming because the more powerful they are, the bigger influence they have and I am not so sure that its a good thing for crypto.

[The Cryptovator]

It's called China brain lol. It's like Alibaba wants to rule the eCommerce industry and many more which is related. And Binance wants to the rules cryptocurrency industry and which are related to it. They bought CMC and invested in many platforms. They are just opening more gates for them. Yes, this is positive for us. Forbes will promote cryptocurrency massively then 

[Rikafip]

They are just opening more gates for them. Yes, this is positive for us. Forbes will promote cryptocurrency massively then 

Or they will maybe be used for spreading fud against Binance competition when they feel threatened enough. Since they are spreading into absolutely everything, soon enough they will see everyone in crypt as their competition and I don't think that is good for us as users so in a way this seems to me like a double-edged sword. Dunno, maybe I became too paranoid...

[Darker45]

They are just opening more gates for them. Yes, this is positive for us. Forbes will promote cryptocurrency massively then  

Or they will maybe be used for spreading fud against Binance competition when they feel threatened enough. Since they are spreading into absolutely everything, soon enough they will see everyone in crypt as their competition and I don't think that is good for us as users so in a way this seems to me like a double-edged sword. Dunno, maybe I became too paranoid...

I somehow share your paranoia, although, in general, I couldn't care less. Bitcoin is not Binance nor BNB nor CZ nor every other thing that sprouted out of its growing popularity. Mt. Gox fell. Bitfinex and Bittrex and Poloniex and others had their golden days but they were eventually replaced by new players. Binance is beginning to fall as well. Amidst all this, Bitcoin remains strong.

But the point is CZ and many Chinese businessmen are embodiments of China. They dream no less than monopoly. And that is dangerous. Not to mention that objective marketing seems less preferred than hype creation for the man.

[SensitiveEyes]

Probably an unpopular opinion but I'm fine with this. So much hateful opposition propaganda against Bitcoin/crypto on typical "news" sites that at the very least this should bring a little bit of balance. Fighting fire with fire.

Technically the question or validity of any imbalance when reporting crypto should not form any part of the equation in this cash injection deal because Changpeng Zhao said editorial integrity would remain.

This is a well calculated move by binance to pick these guys because using Forbes reach means more exposure and impressions for the company which i expect these guys to easily recoup their investment in no time. Kudos to you binance another win for all of us in the crypto verse, hope other crypto companies will emulate them.

How are Binance going to use the reach Forbes has when they invested $200 million on the basis they would not be allowed to interfere with the output? Changpeng Zhao said editorial integrity and independence is not going to be compromised. Forbes would never allow an investor to take charge over publishing policy and editorial output.

Let them do their business, not because they have sued the company in the past meaning they will stay as enemy , remember that in business nothing is personal and nothing is permanent.
your competition today will be your partner tomorrow , so  let them Be and besides Binance is a successful business and I'm sure they knew what they are entering.
Why not just be happy and expect good return in binances investment , because We as Binance supporter will benefit from this lol.

How will you as a Binance supporter benefit from this deal? I am trying to look at this from multiple perspectives to understand your statement. You are mistaken if you believe Binance will invest in Forbes with strings attached enabling them to control publishing output, Forbes and Binance have rejected this idea.

[stepwilli]

It's called China brain lol. It's like Alibaba wants to rule the eCommerce industry and many more which is related. And Binance wants to the rules cryptocurrency industry and which are related to it. They bought CMC and invested in many platforms. They are just opening more gates for them. Yes, this is positive for us. Forbes will promote cryptocurrency massively then  

There are rumors with this before and at first I wouldn't believe it not until the time I found out that cmc is now a property of binance. They need more connections to be able to stay on top and they can easily do that because have millions and billions of cash.

This fact might be hard for some to accept and they will have false reaction to this but I guess your right that we can still benefit with this because if we think, binance are still introducing the whole crypto ecosystem to the world. Forbes did already featured crypto many times but after this event they might featured cryptos especially binance on their network more often. Thing are getting more interesting now in crypto.