After buying the publisher, Binance is in the market for other traditional businesses as a way of encouraging crypto adoption.
Binance is reportedly looking to invest in several mainstream companies as a way of fostering greater crypto adoption in traditional business circles.
The crypto exchange giant plans to invest in one or two firms across several business sectors, CEO Changpeng Zhao in an interview with the Financial Times on Wednesday. According to Zhao, the aim of this investment spree is “to bring them into crypto.”in Forbes, a publication that once sued the exchange giant for defamation. Going by Zhao’s comments, Binance will continue to pursue investments into other entities that operate in the mainstream business arena.
Binance’s core business is a crypto exchange platform that supports peer-to-peer, spot and derivatives trading for hundreds of cryptocurrency pairs.shows over $420 billion in crypto trading volume for Binance in February. According to Zhao, 90% of the company’s revenue comes from the fees levied on these trading activities.
Amid this dealmaking spree, the company is attempting to smooth regulatory wrinkles with authorities across different countries. Zhao himself
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