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


Zhao Changpeng, founder and chief executive officer of Binance, speaks during an interview in Singapore, on Nov. 19, 2021.

Wei Leng Tay | Bloomberg | Getty Images

Binance, the world’s biggest cryptocurrency exchange, is making a $200 million strategic investment in Forbes, the 104-year old magazine and digital publisher, CNBC has learned.

The funds will help Forbes execute on its plan to merge with a publicly-traded special purpose acquisition company, or SPAC, in the first quarter, according to people with knowledge of the deal.

Investors have grown skeptical of SPAC deals generally, and media deals in particular, in recent months amid the broader stock market retrenchment. Binance will…


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