According to a report from the Financial Times where it interviews the CEO of the world’s largest cryptocurrency exchange Binance, Changpeng “CZ” Zhao, said the firm is working hard to diversify its interests.
‘CZ’ said the exchange is interested in expanding outside the scope of cryptocurrency and bring in companies from traditional markets to increase crypto adoption.
“We want to identify and invest in one or two targets in every economic sector and try to bring them into crypto.”
By having the traditional companies embrace crypto, the CEO said, slow movers will experience pressure and hence this will increase the market overall competitiveness.
In February, Binance announced a $200 million investment in publishing giant Forbes, which made the firm the largest owner of the company.
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Source: Igaming
