Binance makes investment in Chinese crypto media firm
September 26, 2019
Binance makes investment in Chinese crypto media firm
September 26, 2019

Crypto exchange giant Binance has made an investment on Chinese crypto media firm, Mars Finance.

According to Bloomberg report on Sept 17th, the investment amount was not disclosed but the media firm stands at a value of $200 million.

Mars Finance is backed by “Ceyuan Ventures and Matrixport, a financial services startup founded by the co-founder of bitcoin mining firm Bitmain, Jihan Wu.”

“We have large respect for data, news and research firms which support the positive growth of the blockchain industry. We will continue to pursue strategic investment opportunities in our mission to bring crypto further mainstream, increase adoption and accessibility, and help the industry grow sustainably.”

Binance CEO Changpeng Zhao

Wang Feng founded the media firm in 2018. The firm “raised two funding rounds from investors including IDG Capital and the venture subsidiaries of OKCoin and Huobi.”

Binance investment on Chinese media firm comes after news of the crypto exchange prepares to onboard customers for live trading for its US platform.

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Binance US said that registration and deposits will be started after Sept 18th. A number of Binance products will be rolled across the US after the registration and deposit is done.


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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain and decentralized apps.
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