This article comes fromThe Block, original author: Yogita Khatri

Odaily Translator | Nian Yin Si Tang

Summary:

This article comes from

, original author: Yogita Khatri

Odaily Translator | Nian Yin Si Tang

Summary:Announce- Binance will invest $200 million in Forbes.

- The deal is expected to close in March.

Cryptocurrency exchange operator Binance is buying a stake in Forbes magazine for $200 million, an investment that would make Binance one of Forbes' two biggest shareholders. It is worth mentioning that Binance sued Forbes magazine for defamation, but later voluntarily dropped the lawsuit.

Forbes ThursdayAnnounceCointelegraph reported that Binance will account for half of the $400 million private equity investment (PIPE) announced last August. At the time, Forbes announced the investment plan and its intention to go public through a special purpose acquisition company (SPAC), Magnum Opus.

“As Binance takes on the commitments of the existing PIPE, the overall size of the PIPE will remain at $400 million, and Binance’s investment will be made on essentially the same terms as existing PIPE investors,” Forbes said. The deal is expected to close in March.Before the investment agreement was reached, the two parties had a dispute over a report. Let's sort out the timeline first:At the end of October 2020, Forbes

published an article saying, a leaked document details the efforts of cryptocurrency exchange Binance to avoid scrutiny from U.S. regulators. Forbes noted that Binance "conceived an elaborate corporate structure designed to deliberately deceive regulators and secretly profit from cryptocurrency investors in the United States." Its source is a 2018 document known as the "Tai Chi Document," which has not yet been made public. Forbes understands that the document is currently circulating among law firms, accounting firms, and other institutions related to Binance, and there has been speculation that the FBI and IRS may be investigating it .Then Changpeng Zhao tweeted

The Forbes report states, “FUD (Fear, Uncertainty, and Doubt). The statements and accusations in the article are incorrect and the entire article depends on a third-party document. The document was not written by a Binance employee (current or former) Write. Anyone can make “strategy papers,” but that doesn’t mean Binance will follow them.”

In November of the same year, Binance interviewed the media "Forbes" and its two reporters Michael del Castillo and Jason Brett in New Jersey, USA.

file a lawsuit

, claiming that Forbes’ October 29, 2020 article on how Binance circumvented U.S. regulators’ scrutiny was defamatory. Binance said that the report caused Binance to suffer millions of dollars in losses and demanded compensatory and punitive damages.

However, in February 2021, Binance withdrew its defamation lawsuit against Forbes.

secondary title

How does Forbes fit into Binance's portfolio?