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Binance might Invest $1 Billion this Year

The Cryptocurrency Industry Could Be Killed by India's Taxes as per Binance CEO

In an interview this week, Binance CEO Zhao “CZ” Changpeng claimed the company might invest or acquire businesses for more than $1 billion this year. So far this year, the business has invested $325 million in 67 different initiatives.

The CEO of Binance has said that his business is planning to finance Elon Musk’s acquisition of Twitter to the tune of $500 million and invest $200 million in the Forbes media organization.

Zhao has shifted his investing strategy this year away from troubled cryptocurrency and toward decentralized finance and nonfungible tokens. We haven’t finished talking about other ways to invest in Binance yet.

Binance has its own internal problems, but it plans to invest in additional assets by the end of 2022. Binance lost $100 million due to a cyber assault on the BNB Chain this morning. Zhao has posted on social media that the situation is under control and that consumers’ money is secure.

Binance is Investing Heavily in NFTs

According to Zhao, Binance has also been investing heavily in the infrastructure around NFTs, fan tokens, and more conventional payment processors. Without going into detail, Zhao noted that Binance has been profitable this year even though the values of major cryptocurrencies have dropped by more than 50%.

He said that Binance has a staff of around 30 people working on mergers and acquisitions and a $7 billion fund that has been investing in deals.

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