Magnum Opus Acquisition Limited (NYSE: OPA) ("Magnum Opus"), a publicly traded special purpose acquisition company, and Forbes, the iconic business information brand that convenes and curates the most influential leaders driving change, today announced a $200 million strategic investment from Binance, one of the world's largest cryptocurrency and blockchain infrastructure providers.
Binance's strategic investment will be made through the assumption of subscription agreements totaling $200 million in the $400 million private investment in public equity ("PIPE") that was previously announced, as well as Forbes' intention to go public through a business combination with Magnum Opus. The overall size of the PIPE will remain at $400 million since Binance assumes previous PIPE commitments, and Binance's participation will be on basically the same conditions as the existing PIPE investors.
The transactions with Magnum Opus and Binance are reportedly expected to assist Forbes in maximizing its brand and enterprise values, as well as using its proprietary technology stack and analytics to convert readers into long-term, engaged platform customers, including through memberships and recurring subscriptions to premium content and highly targeted product offerings.
This is a new sign of increased monopoly of the crypto market by Binance. It had been reported earlier that of the Binance ranked the largest cryptocurrency platform with a value of 21billion$ which is more than Upbit(7.44billion$), Coinflex (5.83B), and Deep Coin(5.51B); the second, third and fourth Crypto platforms put together.
It is clear that the value of Binance will only continue to increase, with BNB being its currency. It should also be noted that Binance has the largest variety of Crypto ranging from the big ones like Bitcoin, Ethereum to other common ones like Altcoin, Litecoin and to even newcomers like $darc and polygon. It is clear that Binance is both the present and future of crypto trading
Wouldn't you rather invest in the future technology (Blockchain) while using the future (Binance)?
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