Binance to Invest in Companies to Attract Them to Crypto Business
Binance CEO Changpeng Zhao has said in an interview with FT the crypto exchange plans to invest in companies not related to the crypto business to more widely integrate digital assets into the traditional financial system. He said:
“We want to identify and invest in one or two targets in every sector of the economy and try to bring them into the cryptocurrency industry.”
According to Reuters, Zhao has discussed the purchase of English football club Chelsea.
According to media reports, the CEO of Binance abandoned this idea because it is not a priority. However, Zhao has not made any comment on this.
Binance announced last month it has made a strategic investment of $200 million in Forbes. The funds will support the company’s plans to enter the stock market.