Binance Invests Heavily in Chinese Crypto Media Firm
According to a Bloomberg report, Binance has debuted an investment in China With a crypto media and data sourcing company, Mars Finance. The cryptocurrency exchange, which is one of the biggest going by its current trading market volume has not yet disclosed the amount of capital involved; the strategic firm has been reportedly valued at about $200 million, which falls in one of the wealthiest cryptocurrency media and data platforms in the world.
Binance happens not to be the only company that the Chinese media firm to receive funds from, as Ceyuan Ventures and Matrixport, the financial startup setup by Bitmain’s co-founder Wu Jihan, in the recent financing round has already indicated interest in the firm as an investor.
The exchange has attained tremendous growth even after suffering from the unfriendly atmosphere the Chinese government has created towards digital currency exchange. There has been a significant bounce back since the ban of cryptocurrency exchanges.
Going by the report from Bloomberg, this investment would be the first of the Malta-registered crypto exchange from a crypto company related to China.
Binance, on the other hand, is working towards achieving the feat of reaching and maintaining the position of being the biggest cryptocurrency exchange on a global scale while it continues to penetrate every possible sector with great potentials related to cryptocurrencies. Having begun from scratch as a crypto spot trading exchange, the company has since grown into creating its own margin and futures trading as well.
Image via Shutterstock