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Binance May Spend Over $1 Billion This Year on Deals, CZ Says

  • Twitter, Forbes investments are highest profile transactions
  • Crypto company hasn’t invested in any distressed assets yet
Zhao Changpeng

Zhao Changpeng

Source: Benjamin Girette

Binance Holdings Ltd. founder and CEO Zhao “CZ” Changpeng said the world’s biggest digital-asset exchange may spend more than $1 billion on acquisitions and investments this year despite what is shaping up to be a prolonged crypto winter. 

Binance has committed $325 million to 67 projects so far this year, compared with $140 million for 73 projects in 2021. That doesn’t take into account a possible more than $200 million investment in the Forbes media company and $500 million in financing for Elon Musk’s on-again acquisition of Twitter Inc., which could carry into next year if it gets done at all.