Crypto exchange Binance plans to buy a bank

Crypto exchange Binance plans to buy a bank

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by dapp_writer005

4 years ago

Bloomberg reports that the Binance crypto exchange has become an active participant in the global market and may invest in the acquisition of the bank soon. Prior to this, the head of Binance, Changpeng Zhao, announced plans to allocate approximately $ 1 billion in the near future for a possible purchase.

The specialist stated that his organization is actively studying this investment and that in the future, it plans to become a bridge between crypto assets and traditional finance. Based on this, it can be argued that the CEO of Binance is positive about this acquisition and looks forward to the positive development of the company after.

At the moment, the crypto exchange is already working with many banks. Naturally, banks have their own advantages from this, but Binance can begin to control all processes without the participation of intermediaries. Bloomberg informs that the crypto exchange has already invested more than $300 million in 67 projects.

The latest news is that the company has invested $500 million in Twitter. Changpeng Zhao was able to help Elon Musk to complete a troubled deal to buy the social network. On October 28, the Binance team officially confirmed that the exchange has become the main investor in Elon Musk's deal with Twitter.

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