$200 million Forbes investment from Binance

With billionaire rankings, Forbes said the deal will help him become a leader in providing information on digital assets like Bitcoin.

This investment has raised questions about potential conflicts of interest.

Binance filed a defamation lawsuit against Forbes in 2020 and later dropped the lawsuit.

In a statement announcing the investment, Binance founder Changpeng 'CZ' Zhao said he sees the media as an important element in building widespread consumer understanding and education about the crypto market and emerging 'blockchain' technologies.

The Chinese and Canadian billionaire, whose net worth is estimated at around $100 billion, later used Twitter to clarify his comments, saying his focus is on helping Forbes improve its technology.

Changpeng 'CZ' Zhao also stated that Binance is tracking investments in other traditional companies.

Founded in 1917, Forbes has been a family business for decades and has made a name for itself with its content covering the giants of the business world. However, as with any organization in the media industry, the transition from print to digital has been difficult.

In 2013, the Forbes family put the business up for sale and acquired a majority stake in Hong Kong-based Integrated Whale Media.

It will be offered to the public

Last August, Forbes said it would go public on the New York Stock Exchange through a merger with Magnum Opus, a firm set up to buy companies that want to go public.

The firms said they will invest $400 million, with a valuation of approximately $630 million to Forbes.

Binance, on the other hand, is now less than half of this amount. As CEO of Forbes, Mike Federle, said, "Forbes is committed to demystifying complexities and providing useful insights about blockchain technologies and all emerging digital assets."

Forbes today has an audience of more than 150 million people worldwide, with 45 licensed local editions spanning 76 countries.

There are many names that contributed to the online version. Articles by these names occasionally raise questions about the credibility of the brand.

Heather Morgan, a previous contributor to Forbes, was accused of participating in a scheme to launder millions of dollars stolen in a 2016 Bitcoin exchange hack. Forbes stated that their relationship ended last year.