The world’s largest crypto exchange, Binance, plans to buy companies across all economic sectors. The company’s decision comes after increased regulatory pressure from different countries. At this point, Binance isn’t doing much outside of the crypto space. So, ultimately, their goal is to have income from the traditional sectors. Not only that, they want to bring the traditional sector into crypto somehow, the company’s CEO said.
Binance plans to buy companies to diversify its business
Binance’s goal is to buy companies and bring them into the crypto space. This will increase the adoption of cryptocurrencies in general and also increase their sources of income. If they are truly able to buy strong companies in all economic sectors, then within the next 10 years Binance could become one of the biggest companies we know. They already took the first step some time ago by investing $200 million in Forbes.
Binance is currently valued at around $300 billion and its CEO is the 11th richest person in the world. It will only get better from now on as Binance seems to be serious about its plans. It’s not just on paper or in the media, as we can see with the acquisition of Forbes. In the past, Binance has invested in a few finance and crypto-related businesses in one way or another, but not directly. For example, Coinmarketcap and Swipe.
Right now, Binance’s future depends on crypto regulations and investors, as 90% of its revenue comes from fees. It is therefore a good idea to diversify the flows to be less dependent on a space. They have been one of the few exchanges that come under scrutiny in most countries. And it required quick action to survive in the market.
It’s great for Binance and crypto
With Binance investing in multiple companies, they will be able to obtain cryptos to reach all sectors. This will increase adoption, which is good for markets. If they are able to push other traditional companies into cryptocurrencies with their actions, then there is nothing better than that.
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