Binance, led by the world’s richest crypto billionaire, is taking a $200 million stake in Forbes

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Binance, the world’s biggest cryptocurrency exchange, is making a $200 million strategic investment in Forbes.

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The funds will help Forbes execute on its plan to merge with a publicly traded special purpose acquisition company, or SPAC.

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Binance will replace half of the $400 million in commitments from institutional investors announced by Forbes in August.

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That would make Binance one of the top two biggest owners of Forbes, which will be listed on the New York Stock Exchange under the ticker FRBS.

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Crypto insiders say they expect a deluge of deals this year as companies deploy the enormous sums of money raised in recent fundraising rounds.

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Binance was founded in China in 2017 but lacks a physical headquarters. In a bow to regulators, it’s in the process of selecting a location for one.

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