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Forbes has announced that Binance, “one of the world’s largest cryptocurrency and blockchain infrastructure providers,” is making a $200 million investment to own a part of an “iconic business information brand.” That money is part of a $400 million private investment in public equity (PIPE) arrangement set up for Forbes to go public by merging with a special purpose acquisition company, or SPAC.
A defamation lawsuit and one crypto hacker/writer weren’t enough to stop this deal
The deal makes for an interesting milestone, showing how Web3 firms have reached their “let’s buy a media outlet” moment, kind of like Time Warner and AOL, or AT&T and Time Warner, or Verizon and AOL, or… you get the point.
But this arrangement also brings…
