Binance to consider investments in non-crypto companies to bring them into the crypto industry

Binance CEO Changpeng Zhao, in an interview with FT, outlined plans for the bitcoin exchange to invest in companies not tied to the crypto business to broaden the adoption of digital assets in the traditional financial system.

“We want to identify and invest in one or two targets in each sector of the economy and try to bring them into the cryptocurrency industry,” he said.

Reuters also reported that Zhao had discussed purchasing Chelsea, the English football club that had been put up for sale by Roman Abramovich.

According to media reports, the CEO of Binance declined the idea as not a priority. Zhao himself did not comment on the information.

Earlier in February, Binance announced strategic investments of $200 million in the Forbes media group. The funds will support Forbes’ plans to go public.

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