Crypto exchange Binance to invest $200 million in U.S. media firm Forbes


FILE PHOTO Representations of cryptocurrencies Bitcoin Ethereum DogeCoin Ripple and Litecoin are seen in front of a displayed Binance logo in this illustration taken June 28 2021. REUTERSDado Ruvic

FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin are seen in front of a displayed Binance logo in this illustration taken, June 28, 2021. REUTERS/Dado Ruvic

LONDON (Reuters) - 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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